Ping An Bank awarded Business Model of the Year for 2019 at The Asian Banker International Excellence in Retail Financial Services Awards 2019
- Ping An Bank took the lead to implement “comprehensive finance model”
- The bank achieved rapid growth in customer scale under “comprehensive finance model”
- The bank extend sales capacity through “members gain members” operating model
Dubai, March 21st, 2019 - Ping An Bank was awarded the Business Model of the Year for 2019 at The Asian Banker International Excellence in Retail Financial Awards 2019. The awards ceremony was held in conjunction withThe Excellence in Retail Financial Services Convention 2019at Conrad Dubai, U.A.E on March 21st2019.
Standing from left: John Holder, Chief Technologist, Realities Centre London; Representative from Ping An Bank; Richard Hartung, International Resource Director, The Asian Banker
Ping An Bank took the lead to implement a “comprehensive finance model”
Comprehensive finance model is to realise "one customer, one account, multiple products and one-stop service" for clients, there is no other similar business model in market. Relying on Ping An Group, Ping An Bank provided customers with a comprehensive financial services including insurance, securities, funds and trusts, as well as life services such as health care, automobile services and urban services.
The bank achieved rapid growth in customer scale under “comprehensive finance model”
Under the strategy of comprehensive finance, by the end of the third quarter in 2018, the number of clients in Ping An Group reached 182 million, in excess of 18.7% compared with last year. Also, the operating income of Ping An Bank's retail business reached 32% which accounted for 51% of the whole bank's operating income, and the net profit has increased by 11%.
The bank extend sales capacity through “members gain members” operating model
The MGM operating model transfers life insurance agents to key clients. the bank motivates the key customers to refer customers through various marketing promotion, then the bank will take over customer sales and management. Through MGM operating model, with both online and offline business channels, Ping An Bank implemented the comprehensive finance model and assist the transformation of the group customers.
The International Excellence in Retail Financial Services programme is one of the most rigorous, prestigious and transparent awards programme for consumer financial services in the world. Covering all of the Asia Pacific, the Middle East and West Africa, the programme was instituted in 2001 to recognise the pursuit of excellence amongst retail financial institutions.The programmeevaluates more than 300 banks and non-bank retail financial services players in more than 42 countries, via a rigorous audit-based approach.
About The Asian Banker International
The Asian Banker is the region’s most authoritative provider of strategic business intelligence to the financial services community. The Singapore-based company has offices in Singapore, Malaysia, Manila, Hong Kong, Beijing, and Dubai, as well as representatives in London, New York, and San Francisco. It has a business model that revolves around three core business lines: publications, research services and forums. The company’s website iswww.theasianbanker.com
You may visit the Excellence in Retail Financial Services Awards gallery at https://www.facebook.com/pg/TheAsianBanker/photos/?tab=album&album_id=10157080239284804
For further information on the collaterals for winning banks, please contact:
Mr. Alfred Labicassi
The Asian Banker