Research On The Development Strategy Of Z Bank's Retail Business

With China's economy entering a new normal,people's consumption level is increasing day by day.As a financial service that people are widely involved every day,bank retail business has gradually become the driving force for the development of commercial banks and an important source of profits for commercial banks.At the same time,with the rapid development and wide application of internet technology,"Internet + Finance" has provided a wealth of practice modes for the internet-enabled bank retail business.Therefore,commercial banks need to actively study the relevant strategies of retail business development,so as to fully expand the profit channel,and also better cope with the competition pressure from all aspects.As a provincial city commercial bank,Bank Z has not only realized the whole province coverage of business outlets in recent years,but also achieved the rapid development of retail business.Based on the analysis of the relevant data of retail business in Bank Z for the past few years,combined with the advanced experience of the same industry and relevant research results at home and abroad,this paper analyzes the current development status and existing problems of retail business of Bank Z from three aspects: assets business,liabilities business and intermediary business.By comparing with the development status of other banks,this paper analyses the problems in retail assets business of Bank Z,which,specifically reflected in insufficient risk control ability,serious homogeneity of products in the retail liability business,and separation of management channels in the retail intermediary business,and further result in the lack of market competitiveness of Bank Z.Guided by financial innovation theory,marketing theory and customer value theory,this paper puts forward the development strategy of Bank Z retail business,that is,based on the concept of "big retail bank",to encourage banks to cooperate with other banks so as to improve risk control ability,at the same time,to strengthen product innovation and take the product differentiation route,so as to enhance competitiveness.In terms of business management,we should also move closer to the centralized operation mode and build a retail business organization and management system with "consistent objectives,clear responsibilities and coordination".On this basis,we put forward the safeguard measures to promote the steady development of bank retail business.The measures could include,first,to establish scientific risk management and control system;second,to optimize the business process;third,to improve the service quality of networks;fourth,to reinforce personnel training and practice;fifth,to set up a fair performance appraisal system.This may provide countermeasures for the development of retail business of Bank Z,at the same time,it can provide some reference for the development of retail business of commercial banks in other cities.