Chinese banks refine retail banking strategies to better capture target market
Proceedings report from The Asian Banker's China International Banking Convention 2013, on channel innovation and the changing payment landscape in China and Asia Pacific. June 03, 2013 | Research*The following is an extract of an important ten-page proceedings report on The Asian Banker’s China International Banking Convention 2013. The entire report is available here. Innovative culture with new strategies in channels and distribution Customers are at the heart of a complex system of financial services providers, including banks, insurance companies, retailers, technology providers, and social networks. New technologies are constantly driving change in financial services’ customer experience, such as IT security, social platforms, cloud computing, and data analytics. There is an increase in banks which are shifting to more direct channels while at the same maintaining access to branches, offering opportunities for stronger cross channel integration that is also aimed at maximising customer convenience. The changing payment landscape in China and Asia Pacific The payment landscape is changing rapidly throughout Asia due to NFC and other important technologies. According to Li Lin, General Manager, Strategy Development, Shanghai Pudong Bank, mobile technology has significantly changed over time, with access to mobile banking available in China at all times. Mobile information technology development has greatly enhanced the ability of China’s financial services industry to satisfy their clients and create new profit models. Liquidity risk advancements in an evolving environment Having weathered the global financial crisis, the Chinese banking industry is now in the process of implementing a new risk management infrastructure. Chinese banks are facing some new challenges, such as a higher exposure to international funding costs relative to most banks in Asia. Some of main questions asked during this session include: Please login to read the complete article. If you already have an account, you can login now or subscribe/register.
Categories: Channels, Customer Centricity, Mobile Banking, Regulation, Retail Banking, Risk and Regulation, SME Banking, Technology & Operations, Trade Finance, Transaction BankingChannels,Customer Centricity,Mobile banking,riskregulation,retail,Risk and Regulation,SME Banking,technology,Trade Finance,Transaction Banking, Channels,Customer Centricity,Mobile Banking,Regulation,Retail Banking,Risk and Regulation,SME Banking,Technology & Operations,Trade Finance,Transaction Banking, Keywords:CBRC, China Minsheng Bank, China Bohai Bank, Baoshang Bank, Shanghai Pudong Bank, Wincor Nixdorf, First Data, Tata Group, Accenture, Wolters Kluwer CBRC, China Minsheng Bank, China Bohai Bank, Baoshang Bank, Shanghai Pudong Bank, Wincor Nixdorf, First Data, Tata Group, Accenture, Wolters Kluwer
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