Zeng Gang, director of Shanghai Financial and Development Laboratory: The retail business will drive the banking industry to develop in depth

Source | Zero One Finance

Author | Chen Lishan

2022 is a critical year for the implementation of the "Fourteenth Five -Year Plan" plan in my country. Focusing on the macro environment that is normalized around the epidemic, the banking industry is experiencing a new round of digital transformation and in -depth change. In digital transformation, retail financial business is still the focus of strategic.

On September 22, 2022, the "Lujiazui" Exchange Conference 6 -The 4th China Retail Financial Development Summit Report Report and List Conference "was held online. Research Report Research Report Research Report (2022) "," Bank Scene Ecology and Numeral Smart Operation Report (2022) "and 2022 China Retail Financial List.

This conference was hosted by Tianfu New District Financial and Development Research Institute, Chengdu Financial Industry Federation, Zero Yizhi Think Tank, China Retail Financial Think Tank, "Lujiazui" magazine, the Central University of Finance and Economics Banking Research Center, the Ministry of Public Policy of the University of Science and Technology of Hong Kong, The Digital Financial Laboratory of Hong Kong University of Science and Technology provides academic guidance. At the meeting, Zeng Gang, Dean of Tianfu New District Financial and Development Research Institute and director of Shanghai Financial and Development Laboratory as an academic guest.

At the beginning, Zeng Gang pointed out that from the perspective of national level, due to the economic growth model and the transformation of economic momentum, retail finance has become the main direction of future financial development.

For a period of time, China's economic structure has undergone tremendous changes. The economic growth model that is dominated by investment has gradually converted to consumption. Since 2014, China's consumption has far surpassed investment in GDP contributions. Although the epidemic has affected the current consumption, this trend will not change in the medium and long term. Financial serving the real economy, and consumer economic activities have also led to financial activities. The center of economic activities has shifted from corporate activities to personal behavior, and the main needs of financial activities have gradually transformed from the government to retail. This is not based on objective will, but the development trend.

From the perspective of banking, it was just that the bank's digital transformation of retail banks had just believed that it was necessary to adapt to changes in economic structure and emphasized the significance of digitalization.

In the early years, the development of retail business did not require digitalization. There was no obvious digital trace in the successful experience of retail finance, but the success of a cartoon model could no longer be copied. The core of retail finance is digitalization. Customers on the retail side have been highly digitized, customer behavior is highly online, and the payment terminal has also entered third -party payment. During the creation of the ecological environment and scenario of banks, the business means to leave digitalization cannot be realized.

But digitalization needs to meet the needs of customers, not digitalization for digitalization. The core of the digitalization of retail banks is customer -centric, and customer satisfaction has reached, so digitalization is success. Digitalization is not as advanced, and the same standards should be measured by the same standard. It is meaningless to digitize the digitalization beyond its own understanding, organizational ability, or input ability.

In the long run, the retail business will still be the leading banking industry, and even the digitalization of banking business, and drive the continuous development of the entire banking industry. Based on this, Zeng Gang made a look at the following three aspects.

First, the retail business model itself needs to innovate further. The operating methods, risks and traditional methods contained in digital scenarios are different. Therefore, banks not only need to make efforts in scene construction, but also need to make a complete set of corresponding adjustments in the middle and backstage management concepts. If the development of the middle and back end cannot keep up with the business end, the efforts of the front end are also limited.

Second, in the construction of digital scenarios, banks' dominance weakened and needed to participate in cooperation with other institutions. How to control the cooperation process requires the bank's own judgment and attempt. In addition, this process also needs to accommodate the existing regulatory system. The regulatory logic needs to be adjusted accordingly, and this process is gradual and inevitable.

Third, digital transformation is just a pioneer, which will inevitably penetrate into other business areas, including the public and financial markets. The experience and logic in the construction of the retail scene can be summarized. After the methods are abstracted, the method can be applied to the industrial end to help the digital transformation of the industry. But at present, the connection of this piece is not enough, and it deserves more discussions.

End.

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