Research On Retail Business Transformation Strategy Of WJ Sub-branch Of C Rural Commercial Bank

In June 2020,C Rural Commercial Bank officially returned to the family of municipal state-owned enterprises with the completion of the equity structure adjustment.It means that this local rural commercial bank,which was once one of the top five and even of the top three of the industry in the country at its peak,has embarked its new journey.With in-depth exploration,research and judgment upon the national conditions and economic prospect of China by the state,local governments and China banking regulators,a number of policies have been introduced to support the development of private enterprises and small and micro entities.As integral components of the financial industry,state-owned banks,joint-stock banks,city merchant banks and agricultural merchant banks have all followed the pace and sounded the clarion call to transform into a large retail model,tilting their business focus to the retail sector.The transformation of retail business has become the core development direction and an indispensable test for almost every bank.The trend about future growth of the banking industry has switched from the market competition based on its own products to the demand-oriented competition based on customer demand,life,consumption and business scenarios.At the same time,banks are responding to the various changes and challenges of the new retail era by developing products that are more personalized and more in line with the scenarios of today’s new retail industry.Therefore,at this important time of transformation,the study of retail business transformation strategies is of great significance to the future high-quality development of C Rural Commercial Bank.This paper takes WJ Sub-branch of C Rural Commercial Bank as its research object.It combines the knowledge and theories of economics,finance,management,marketing,literature research,peer comparison analysis,experience summary and other methods.By collecting,identifying and sorting out the literature data,a SWOT analysis of WJ Branch of C Rural Commercial Bank is designed,experiences in the transformation of interbank retail business are learnt and sorted out by using cases in the same level banks(peer data comparison)and interbank banks(peer data comparison).In addition,according to the current customer structure and product characteristics of C Rural Commercial Bank,a set of retail business transformation strategy is concluded which is relatively suitable for the development needs of C Rural Commercial Bank.The research content of this paper is mainly divided into six aspects as follows.Firstly,sorting out the background and significance of this paper.Secondly,studying the research results of domestic and foreign researchers related to bank retail business and the viewpoints of literature to form a method of scientific understanding on facts,so as to put forward the research ideas,methods and theoretical basis of this paper.Thirdly,by analyzing the current development and mode of retail business in WJ Sub-branch of C Rural Commercial Bank,the paper points out that there are existing some problems in WJ Sub-branch of C Rural Commercial Bank,such as unreasonable allocation of marketing service personnel,inadequate customer relationship management,rigid performance appraisal mechanism,insufficient scientific and technological innovation ability,and single risk control means.Fourthly,using SWOT analysis to determine the necessity of retail business transformation.Fifthly,five retail business transformation strategies are put forward,including further delayering of the network transformation,product research and development,training retail talents,strengthening customer maintenance and technology empowerment.In order to ensure the smooth implementation of the strategy,this paper puts forward five safeguard measures: hierarchical management,organizational guidance,perfect risk assessment,resource matching and post supervision.Finally,through the research on the retail business transformation of WJ Branch of C Rural Commercial Bank,combined with the characteristics of products and customers of rural commercial bank system,this paper summarizes the five transformation strategies and five safeguard measures put forward in this paper,and infers the expected results.The conclusion of this paper is of reference value for rural commercial banks throughout the country to implement retail business transformation research.