What do you know about retail banking? I have summarized the relevant information, hoping to help you.
Retail bank is a type of bank, which serves the general public, small and medium-sized enterprises and small individual families. Retail banking service customers usually communicate through bank branches, ATMs and online banking.
Banks that mainly serve consumers and small businesses are usually called retail banks.
Retail banking refers to the comprehensive financial services provided by commercial banks to individuals, families and small and medium-sized enterprises by using modern business concepts and relying on high-tech means, including deposit and withdrawal, loans, settlement, remittance, investment and wealth management. Retail banking is not the abbreviation of a certain business, but the floorboard of many businesses. The business scope is extensive, including both traditional banking business and new business; It can be asset business, liability business, intermediary business, online banking business and so on.
Retail banking business content
The business content and scope are quite extensive, involving various fields of commercial banks' liability business, asset business and intermediary business (off-balance-sheet business).
In terms of debt business, there are mainly: personal checking accounts-demand deposits, time deposits, savings deposits, credit card deposits, financial bonds, and large negotiable certificates of deposit;
From the perspective of asset business, there are mainly: consumer credit (including auto loans, housing loans, durable consumer goods loans, etc. ), credit card financing or overdraft, etc.
From the perspective of intermediary business (more), it mainly includes: personal remittance settlement, personal trust, personal lease, personal safe deposit box, personal bill collection, agency payment, personal financial consulting business, personal foreign exchange trading and exchange business, etc.
Characteristics and characteristics of retail banks
Compared with wholesale banking, retail banking is characterized by:
Customers are mainly individual customers.
Transactions are decentralized.
Small transaction amount
Features presented:
The cost of retail banks is higher than that of wholesale banks.
The liquidity of retail bank customers is stronger than that of wholesale banks.
The loan risk of retail banks is extremely low.
The Development of Retail Banking Market in China
Mixed sales of financial products have become popular in banks.
The first stage: market cultivation stage (starting from 1996)
At this stage, the bank's savings card marketing started, and the domestic retail banking market started. Until 200 1 online banking marketing comes to an end, its characteristics are "three orders".
"Single marketing product": First, savings card marketing, including all-in-one card, peony debit card, Great Wall debit card, dragon debit card and so on. Then, from 1999, with the rise of network technology revolution, the traditional financial industry began to combine with Internet technology, and online banking gradually became the theme of bank marketing, which was regarded by small and medium-sized banks as an effective way to make up for the shortage of outlets, gain a firm foothold quickly and narrow the gap with state-owned commercial banks.
"Single promotion method": the form of bank marketing is mainly "outdoor publicity", and shopping malls, residential quarters and colleges and universities become the main places for publicity. Especially on weekends, bank employees in suits and ties can often be seen wearing ribbons in the above areas.
"Single function of account manager": The function of individual account manager is mainly embodied in mastering the basic functions of savings card and online banking, and explaining it clearly to customers. The performance appraisal of account managers focuses on the number of cards opened and the number of online banking accounts opened.
The second stage: mixed sales began to appear (200 1 ~ 2002)
This round of changes is fundamentally reflected in two aspects:
With the rapid development of securities market, insurance market, personal consumption credit market and fund industry, various financial products are put on the counter of bank retail at the same time, and the retail banking business begins to show complexity, which undoubtedly poses a problem for the operators of traditional banks.
★ The intensification of competition in the same industry has exposed the defects of banks' inherent lack of marketing ability.
Although there is no clear policy signal, mixed sales of wealth management products have become popular among banks. Through the platform of personal financial retail, there are various personal financial products such as stock trading, national debt investment, insurance agency, fund agency, trust plan issuance, housing mortgage, automobile mortgage, etc. Each business category represents an innovative financial industry.
Breakthrough formula of retail bank
As early as 200 1, when China joined the World Trade Organization, the domestic banking industry had already formed a basic understanding, that is, with the acceleration of foreign banks' entry into China, the competition between Chinese and foreign banks in the future will first be launched in the fields of retail banking and private financing.
In the increasingly fierce competition in the same industry, some problems that plague the development of personal business have also begun to appear. It can be said that the rapid development and increasing complexity of China's financial industry are reflected in the retail banking market, which will affect the future banking reform. How to solve this complexity step by step by ourselves, make use of the rapid development of the financial industry, and quickly improve the operating level of the retail banking industry has become a top priority for the banking industry.
Dilemma: Four Bottlenecks
1, cramped competition area
At present, the competition of banks is mainly concentrated in the product field, and the innovation of financial products tends to accelerate. Under different financial brands, the services provided by banks to customers are basically the same. For example, fund consignment, entrusted wealth management, personal mortgage, personal foreign exchange trading, no matter what kind of products, other banks have followed suit within six months after the launch of one bank, making it difficult for any bank to gain an advantage or a lasting leading position in product innovation.
2. Weak market base
From 200 1, "financial management" has become the marketing theme of domestic retail banks, and "financial supermarket", "financial planner" and "financial center" are becoming the terms with the highest frequency in financial media. However, since 2003, the noise of financial management has gradually subsided, because customers' understanding of financial management is extremely limited, the financial products that banks can provide are not rich enough, and the professional level of individual account managers is limited. The conclusion is that in a new and primary market, it is impossible to directly copy the advanced experience of mature markets, and the market foundation needs to be established day by day.
3. Low marketing ability
Compared with the faster-growing retail banking market, banks' service awareness and marketing ability are still insufficient. First of all, banks generally lack the training of marketing skills and professional financial management for account managers, which leads banks to market funds and develop the "bank-securities link" business when the stock market is in a downturn, ignoring customers' investment psychology and not recommending financial products in combination with customers' investment tendencies; Secondly, the awareness of officials and businessmen is strong, and most banks' understanding of marketing still stays on the completion of assessment indicators, instead of positioning themselves as commercial service enterprises and raising marketing to the height of a long-term development strategy of an enterprise; Thirdly, even the best account manager, personally speaking, can't face and adapt to the rapid changes of the whole financial industry independently, so there is an urgent need for a technical support platform behind it, and banks generally lack sufficient thinking and preparation.
4, the contradiction of assessment indicators
The specific performance is the contradiction between the savings deposit index and the financial product consignment index.
Strategies to get rid of the four dilemmas
(1) Breakthrough: 1 formula, 4 variables.
Facing the ever-changing market, retail banking is an increasingly complex system engineering. Here, we outline the marketing strategy of the retail banking market in the emerging stage through a simple formula combined with the latest practice and ideas of the current banking industry.
Marketing formula of retail bank: account manager business-financial products or services-marketing channel business-customers.
Retail banking can be simply described as: account managers provide financial products or services to individual customers through certain marketing channels. It involves four variables: account manager, wealth management products, marketing channels and customers. Let's start with these four variables and plan the marketing work of the branch.
(2) Variable 1: Account Manager
First of all, each branch should establish a professional team of individual account managers, and make it clear that this team should be responsible for the three major objectives of business scale growth, marketing target completion and intermediary business income. At the same time, it is necessary to establish a continuous vocational training mechanism, including the training of enterprise marketing skills. In the long run, it is necessary to train different product managers for different fields of financial mixed industry.
(3) Variable 2: Financial products or services
First of all, the recommendation of financial products should reflect professionalism. It is not enough to rely solely on the efforts of the account manager. There are two technical supports behind it: one is the product manager (mentioned above), and the other is the introduction of relevant professional institutions, such as insurance, securities, funds and futures companies. They can work with the product manager and deliver more professional consulting information through the account manager.
Second, in an immature and unstable market like China, we should always pay attention to the latest changes in the market and the stage and relevance of product marketing. For example, 1 year, fund marketing may only have three months' market, and bank stocks only have two months' market (the opportunity for the stock market to skyrocket). The stock market downturn may benefit the bond market. In addition, we should always pay attention to the impact of national industrial control policies on housing mortgage and automobile mortgage business, as well as the impact of exchange rate and interest rate fluctuations in the international market on retail banking related businesses.
Third, personal financial services can go beyond the scope of financial management and extend to all aspects of customers' lives, thus narrowing the distance between banks and customers. In this regard, the following will be analyzed with customers.
(4) Variable 3: Marketing channels
The most important thing is to clarify the marketing channels of retail banks. The most easily overlooked but also the most important channel is the business hall of bank outlets. There are hundreds and thousands of people in the business hall of any outlet every day, and all of them are customers who open accounts in banks, which should be the first goal of wealth management product marketing. Domestic banks often ignore the environmental construction of business outlets. In fact, the humanized design of the environment, the unified corporate logo and the lobby manager with relatively high professional quality are all places that need to be improved urgently.
The second focus of bank marketing channels is the bank website and the special issue of personal finance. At present, the gap between domestic bank website design and foreign counterparts mainly lies in that it is not humanized enough, or it is not easy to use, giving people a feeling of information accumulation and the update is not timely enough. The content of the financial management special issue is fashionable and casual, and it is not closely related to banking business. Therefore, whether it is a website or a special issue, there is a lot of room for improvement.
The third marketing channel also represents the future marketing development direction, which is telemarketing. Much like Dell's marketing model, all individual account managers are concentrated, except that Dell can provide personalized products, and banks are most likely to provide standardized wealth management products.
The personalized wealth management products of banks are provided by the wealth management center, the fourth marketing channel, and the service targets are limited to a few ——VIP customers.
First of all, no matter what industry, customer relationship management is the core content of commercial marketing, but for banks, it lacks corresponding attention and effective management of a large number of high-quality individual customer resources.
Secondly, the customer market lacks segmentation, what kind of customers should be maintained, what kind of products should be provided by what level of account managers, and there is still no standardized operation mode.
Third, banks with conditions can try to expand financial services to other fields besides wealth management, such as organizing different forms of clubs around some themes within customers, such as "health clubs", "fashion clubs" and "golf clubs", and connecting customers more closely through club activities. This service concept can be simply summarized as "your life, my work".
Through the formula of 1 and four variables, this paper makes an in-depth analysis of the current retail banking business, trying to build an overall framework for the development of retail banking business. It can be found that the competition in the bank retail market is actually carried out on a larger level. Whether it is the construction of account managers, the combing of marketing channels, or more professional financial management level and customer relationship management, the characteristics of personal business of banks can be formed in the process of upgrading. Banks can gradually solve related problems according to their own business characteristics and capabilities. In the process of delineating and solving problems, the bank's marketing strategy will stand out.
The above work plans are basically formulated around the traditional definition of marketing, while modern marketing has injected more human factors and tapped the * * * essence of goods and people, such as Nokia's ConnectingPeople and BenQ's JoyLife. Therefore, we also try to put forward the slogan "YourLife, OurLifeWork" as the concept of long-term customer service for banks.
What is the final result or product of implementing marketing strategy? This is a brand of retail bank. The solution of all problems and the development of work are actually adding color to this brand. Establishing brand is the core competitiveness of retail banks.
2. What are retail banks and wholesale banks?
Retail banking mainly includes consumer credit, including housing loans and credit cards, while wholesale business mainly refers to loan business.
Definition of bank retail market According to different bank customers, banking business can be divided into wholesale business and retail business. Wholesale banking refers to banking services provided by banks to corporate customers, while retail banking refers to banking services provided by banks to individual customers. In some foreign definitions, retail business also includes services provided by banks to small transactions of private enterprises, but this definition is rarely used because the standards of small transactions are difficult to define. From the practice of banks, some businesses can be provided to companies and individuals at the same time, such as deposits and remittances. In order to distinguish the two more strictly, from the market point of view, it is divided into wholesale market and retail market (also known as enterprise market and personal market). Whether in the wholesale market or the retail market, banks have two distinct businesses: on the one hand, banks must absorb deposits (debt business); On the other hand, banks must attract borrowers and customers who use banking services (asset business).
3. What are retail banking and wholesale banking?
Retail banking mainly includes consumer credit, including housing loans and credit cards. Wholesale business mainly refers to loan business. The definition of bank retail market can be divided into wholesale business and retail business according to different bank customers. Wholesale banking refers to banking services provided by banks to corporate customers, while retail banking refers to banking services provided by banks to individual customers.
In some foreign definitions, retail business also includes services provided by banks to small transactions of private enterprises, but this definition is rarely used because the standards of small transactions are difficult to define.
From the practice of banks, some businesses can be provided to companies and individuals at the same time, such as deposits and remittances. In order to distinguish the two more strictly, from the market point of view, it is divided into wholesale market and retail market (also known as enterprise market and personal market). Whether in the wholesale market or the retail market, banks have two distinct businesses: on the one hand, banks must absorb deposits (debt business); On the other hand, banks must attract borrowers and customers who use banking services (asset business).
Four. Retail banks and wholesale banks
Banking divides banking business into retail banking business and wholesale banking business. The main customers are large enterprises with large business volume. Wholesale banking refers to the lending business between banks and customers, which is different from traditional retail banking. The object of wholesale business is large industrial and commercial enterprises and institutions, and the single business volume is large. Wholesale business mainly includes: (1) absorbing deposits from institutions such as agriculture, construction, industrial and commercial enterprises, banks, insurance companies and finance companies, and providing large loans, trade financing and syndicated loans;
(2) Risk management services for foreign exchange transactions in the money market with interest rates, currency options, futures and other credit instruments;
(3) Providing consulting and financing services for enterprises, including providing consulting for stock and bond issuance and new product development, assisting in fund-raising and formulating stable financing.
(4) Providing consultants for the company's project financing, mergers and acquisitions, capital restructuring and privatization, as well as bond and stock underwriting and credit;
(five) to assist customers to enter the international capital market to raise funds, accept large transactions of various financial products and derivatives such as currencies, stocks, bonds and futures entrusted by enterprises and institutions, and carry out financial engineering and risk management;
(six) enterprises and enterprises that accept the stock and bond markets;
(seven) underwriting national debt and municipal bonds;
(eight) to carry out self-investment business, operate diversified securities portfolios, and use domestic and foreign money markets as tools for investment and transaction financing. Private enterprises in Baiyin are small in scale and small in single business volume. To sum up, there are mainly the following aspects: (1) absorbing small deposits and providing car payment to consumers and small private enterprises such as farms and pastures;
(2) Providing investment consultation for private clients;
(3) Issuing credit cards and handling personal settlement, cash management and other businesses;
(4) Divide large-value securities into small-value securities for individual investors to buy and sell.
(5) Retail brokerage service: entrusted by private customers, providing trading instructions and custody services (commonly known as providing credit services for shareholders). Wholesale loans and retail loans are different according to different loan objects. Wholesale loans are targeted at large industrial and commercial enterprises, consumers, individuals and small private enterprises. Wholesale loans can be short-term, medium-term or long-term. For wholesale loans with large amount and long term, they face greater interest rate risk than retail loans, so more floating interest rates are adopted. Retail loans can also be short-term, medium-term or long-term. Because most retail loans are short-term and long-term, compared with mortgage loans and fixed interest rates, some unsecured personal consumption loans with floating interest rates have been developed in recent years.