Research On The Improvement Strategy For Elderly-related Financial Service From The Service Innovation Perspectivein The ICBC J Branch

Our country’s population aging has rapidly become a more and more crucial issue due to factors such as a large population base,an increased average life expectancy,and decreased birth rate.This has led to the development of the silver-haired economy and the elderly-related industries,introducing new opportunities for commercial banks to promote the service and maintenance of aged customers.In the context of an aging population,providing high-quality financial services for the elderly with an improved experience is of vital significance to the survival and development of the banking industry.In February 2021,ICBC launched the "ICBC Love Accompanying" comprehensive financial service brand targeted the aged customers.Focusing on the financial service needs of elderly customers,ICBC has launched various initiatives in products,services,campaigns,assurance,and so forth,to effectively build a long-lasting service brand image that is integrated,24/7,convenient and approachable.As a key provincial capital city branch under their jurisdiction,Branch J proactively responds to the call of the head office and the provincial branch to help the elderly and provides more comprehensive,caring,direct and convenient services for the elderly.This thesis adopts the four-dimensional model of service innovation to establish an evaluation index system,and introduces the fuzzy comprehensive evaluation method to evaluate the development of the ICBC J Branch’s elderly-related financial services,based on the review of domestic and foreign literature in relevant domains.Based on the evaluation feedback,optimizations are required in the following dimensions-"new technology","new user interface",and "new service concept".Low-scoring indices including "development of intelligent investment management"," innovated payment methods "," active identification of customer needs","provision of customized services","reduction in financial risks",and " development of financial scenarios",which indicates improvements in need.In-depth interviews were conducted with the management personnel of elderly-related financial services of the ICBC J branch,sub-branch employees and clients to analyze the reasons for the existing problems of senior-related financial services.Targeted service improvement measures are proposed for aged customers,including strengthening investment portfolio management,optimizing payment methods,improving the identification of needs,refining customized services,reducing financial risks,and enriching financial service scenarios,etc.There are some guarantee Measures in five different aspects,including organizations,technologies,resources,risk prevention and external relationships,to ensure the countermeasures could go on smoothly.The research findings of this thesis contribute to the improvement of elderly-related financial services from inspirational and practical perspectives,enhancing the theories of elderly-related financial services,and providing innovative thinking for other banks to improve their elderly-related financial services.At the same time,this thesis only has studied the author’s workplace as the evaluated sample,so it is inevitable that the diagnosis of service problems and improvement actions have certain limitations.More comprehensive and in-depth research still needs to be carried out in the future across more sample banks to obtain more improved research findings.