One hand high profile stance "creation network", side car to explore the Mainland from merely focusing on retail financial services network and manpower expansion of extensive practice, to a greater emphasis on "spade husbandry" model, stationed in the China mainland market pins initial stability, foreign business idea further "fermentation". Citi financial strategic transformation of retail banks do foreign "leader" early ambitions.
The first foreign line of local legal entities for three years. In the first half of this year, Citibank (China), 10th branch opened the Mainland, 29 retail offices; HSBC Bank (China) is about to be created and 100th dots; Standard Chartered executives have also recently told reporters, this year about plans for expansion of the old network: 30%.
In fact, behind the rapid expansion of the foreign line, facing the embarrassment of falling market share. According to the 2008 market share of foreign investment in China fell 22% per cent. 2009 foreign new Yuan loans fell sharply, only $ 1.8 billion.
Early network expansion, hiring of staff, as well as competing for the high-end customer management strategies, such as the benefits of economies of scale seems to be gradually decreasing, remains concerned about the expansion of the network at the same time some foreign line, began to focus on deepening the connotation of retail financial services to local residents, Citi executives in China is clear in the near future, become foreign-owned retail financial strategic transformation of "leader".
Ou Zhaolun, Chairman of Citibank China said in an interview in late March, in key cities in the Mainland will continue to develop the network in the future, this is one of the long-term strategy and, in addition, "will also bring more wealth of offshore financial products, in different lines of business such as retail banking, corporate banking in depth."
The so-called retail finance "further development", Citibank Vice President and head of retail financial Shi Annan plan is more specific. He said, including continued to introduce new financial products, financial innovation, refined customer classification, consolidation, and the development of electronic networks, as well as training local people and many other aspects.
Current Citibank retail banking customers in China are divided into an intelligent finance, VIP customers, as well as private banking clients have three broad categories. "Each customer has different characteristics and financial needs, add value from savings, investments, wealth, wealth and enterprise development, wealth inheritance, is different. "Shi Annan said that, on the basis of the existing retail customers, demand for each type of customer segment, according to each customer's needs and risk appetite, to provide product, rather than a simple sale of financial products.
Financial innovation, provide rich financial products, is another major focus of retail finance. At present, Shi Annan for product deployment, class include transaction, savings, investments, loans, insurance classes, classes such as different varieties. "We cooperate with the Fund management companies, insurance companies, introduced a wide range of products. We recently launched insurance product aimed at inheritance of wealth, inheritance of wealth to meet specific customer needs. In terms of loan products, mortgage-mortgage loan, deposit mortgage loan is a new loan product. ”
In the past 2 decades, foreign financial products and services has caused considerable controversy in the market. "Financial products can be replicated, a bank after a new product is launched, may occur within six months follow up. However, the Bank's customer service is difficult to copy, by bank employees to customers. "Shi Annan said.
"No certificate, no posts". Citibank, required before every financial adviser posts after 6-8 weeks of training, and by including foreign exchange management, account planning, and other internal examinations, a holder. In addition to providing products according to customer demand and appetite for risk, Citi also asked after-sale tracking, monitoring center also has a dedicated team and trading management, and accountability mechanisms.
Shi Annan this year has also served as head of Citi customer complaints and processing center, with the exception of reference data, "this year I will randomly call customer, asking them about financial adviser, service and products". In addition, the Bank also via email, mail, forums, and other ways to communicate with customers. Measure customer satisfaction with more quantifiable indicators, for example, customer hotline needed to connect time, time required to resolve issues, online feedback speed, etc.
Enhance the scientific and technological content of the service, is also a major attraction. After launch high-tech intelligence network in Shanghai, Shi Annan said, video services, comprehensive wireless intelligent network environment, marked by the touch screen is the standard Citi new networks in the future. In addition, the function will enhance Palm bank payments, transactions.
How to sum up 2010 year to deepen retail financial services strategy? Shi Annan said that strategy is not to need to adjust every year, after the execution is the key. He concluded: "first of all, channel network, including entity Bank network development, networks, electronic channel development. Second, deepen customer orientation, financial services and financial innovation. Next, we still have plans to close retail financial services with small business customers. Innovation, training, and customer-oriented, these are not going to change, and the need to strengthen year after year the policy. ”
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