Formulate a new accelerated growth strategy From The future of medium-sized banks
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Development status and trend of medium-sized banks in China
In China, medium-sized banks are not an independent concept, but they can be compared to banking institutions with assets of 500 billion to 300 billion yuan. Compared with smaller banks, most of them have a network layout that operates across or covers the whole province, a more comprehensive business layout and a more comprehensive customer base, and some leading medium-sized banks have actively deployed various professional subsidiaries in the past decade, including financial leasing companies, consumer finance companies, financial technology subsidiaries, financial management subsidiaries, etc.
The epidemic has brought great challenges to medium-sized banks. Compared with large banks, medium-sized banks have also actively promoted the digital transformation in the past five to ten years, and have widely realized the online and mobile business of retail banks, but there is still a big gap in the integration of online and offline, customer service experience and the level of dealing with high concurrent businesses.
Most medium-sized banks have completed or are in the process of relevant transformation at the retail banking end, while for the corporate banking end, the transformation in the above aspects has been started among the leading medium-sized banks. How to effectively allocate the customer flow of online channels and offline outlets, meet the needs of customer business handling on the basis of ensuring the needs of epidemic prevention, and improve the operating efficiency of outlets is the key direction of the current transformation of medium-sized banks.
In addition, in 2021, a series of relevant policies regulating Internet deposit and loan business, joint loan and loan assistance business have also brought great challenges to the business model of medium-sized banks. Medium sized banks began to return to their natural mission of focusing on local areas and supporting the development of the real economy and people’s livelihood. However, facing the business impact brought by the expansion of inclusive financial business of large banks, medium-sized banks will focus on improving the customer expansion and customer management capabilities of small and medium-sized enterprises.
Professional subsidiaries are also the product of differentiated competition and development of medium-sized banks in the past 5 to 10 years. However, with the increase of market competitors and the homogenization of products, the competition track is becoming more and more congested, which also poses greater challenges to the resource allocation of medium-sized banks. How to more effectively evaluate and support the development of subsidiaries, carry out effective fund allocation, customer sharing, and build an ecological cooperation network are the core issues to achieve the overall value improvement at the bank group level.
Digital transformation of domestic medium-sized banks
In recent years, domestic regulators have successively issued various normative policies, coupled with regional restrictions on industry development, population and its ability to create wealth, the slowdown in the development of regional pillar industries, and the increasing horizontal competition, these challenges have accelerated the upgrading of traditional businesses of medium-sized banks and made up for the shortcomings of digital capabilities. In the future, the bank will focus on improving the customer expansion and management capabilities of small and medium-sized enterprises, and the application of digital means, the construction of ecological scenes, and the construction of front, middle and back office integrated support system are also indispensable.
Most of the medium-sized banks need to improve customer stickiness and loyalty from the perspective of customer experience, and create an ecosystem to access more customer resources. At the same time, from the perspective of internal agile innovation, they need to change their digital culture and realize the deep digital transformation from outside to inside.
The front desk will build an “ecological strategy”, build a local service ecosystem, promote the integration of resources across departments and industries, realize the efficient utilization of government, enterprise and bank resources, and meet the local living service needs of residents. For example, by fully combining the civil service scene channels such as property services, honest housekeeping, living payment, tuition payment fund supervision, we can increase customer contact and shape the awareness of theme ecological services by providing basic financial services. At the same time, it provides mobile marketing tools for account managers to improve the efficiency of customer expansion and acquisition.
Zhongtai empowers “customer experience”, strengthens customer management and operation capabilities, and focuses on relying on data and financial technology to enhance refined and accurate customer management and value management capabilities. Customer hierarchical and cluster management, intelligent risk control and marketing, and intelligent process optimization are still the key topics of this strategic cycle.
The backstage supporting “agile system”, taking “strengthening the head office” as the idea to build an agile organizational form and digital driven system supporting, through process optimization to achieve intensive and efficient operation, break through system barriers, realize digital information connection, support the bank wide operation management and business decision-making, and fully release the “front-line combat” ability of branch outlets; In terms of management mechanism, a digital innovation business management closed loop of “design – Implementation – monitoring – Evaluation” is created, so as to jointly support the digital collaborative development of front, middle and back offices.
Development trend of domestic medium-sized banks
Under the complex economic environment and the requirements of the times, opportunities and challenges coexist, and medium-sized banks will make different strategic choices from large and small banks.
Depending on their own business and ability base, it is necessary for medium-sized banks to make trade-offs in order to shape their own distinctive differences. On the one hand, the focus of the strategy in the next five years should be more on how to use local advantages to better obtain customers and establish high viscosity customer relations, and customer acquisition and cross selling are the focus of their ability training; On the other hand, we need to more actively participate in various local ecosystems, quickly improve the business scale and professionalism through internal and external cooperation, value chain professional division of labor, cross-border cooperation, etc., and focus on the operation and value creation of self operated channels and customers.
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