Research On The Development Status And Countermeasures Of Personal Finance In Commercial Banks

With the advancement of economic globalization,new opportunities have been brought to the financial market.The world’s major banks have given full play to their unique advantages to seize the share of the retail market,and the competition of personal finance services has become increasingly fierce.In western countries,personal finance services have a wide range of products,a variety of products,and relatively controllable risks.Investors pursue absolute returns,which bring considerable market profits for the sustainable development of retail business of commercial banks.Banks increasingly attach importance to the proportion of personal finance services in the banking business structure.The big commercial Banks in our country,also to seize the opportunities brought by the economic development,but the retail business started late compared with western developed countries,personal finance products on the structures and sales strategy development is slow,each big commercial bank market share for preemption,pouring into the core technology and human resources,rushed to launch in preference to other institutions of financial products,The purpose is to gain profit growth from product operation and development.At the same time,residents’ ability to acquire wealth is becoming more and more remarkable,and they have a certain concept of asset allocation.They realize that their surplus wealth can be increased by allocating wealth management products with controllable risks and stable returns,especially the demand of private bank customers for asset allocation services of financial institutions is gradually increasing.To sum up,if commercial banks want to be in an invincible position in the financial field,they must see their own shortcomings in internal risk management,team building and product research and development,look for targeted breakthroughs,constantly improve the comprehensive service level,speed up brand product innovation,upgrade the existing customers’ financial management level,dig deep into potential customer groups,realize the steady appreciation of investors’ wealth,make a wider customer group feel the beauty of financial management,and expand the service groups of personal financial management business,so as to expand.Under this background,this paper studies the challenges and existing problems faced by the development of personal finance business of domestic commercial banks at present.Firstly,the theoretical research foundation of this paper is obtained by systematically sorting out the relevant theoretical literature of domestic and foreign experts and scholars on the development of personal finance of commercial banks.Then,from the perspective of theory and practice,it tries to combine the theoretical knowledge of domestic and foreign research literature on personal finance with the practical experience of working in banks.Through model construction and data citation,it sorts out and analyzes the actual situation of the development of personal finance business in international and domestic financial markets at present,and puts forward the challenges and existing problems faced by domestic commercial banks in the situation of stricter regulatory policies.Finally,put forward effective development and promotion strategies,which is of great significance to the steady development of personal finance in domestic financial industry.