种适合私人银行的以客户为中心的商业模式 Client Centric Business Models for Chinese Banks

This week, I’ve been having a dialogue about the future business models of Chinese banks with a group of top executives from one of China’s largest banks. The discussions have been fruitful in every aspect.

One of the greatest challenges in Chinese banks are the silos between the different businesses – I could only smile and encourage them to start awareness sessions, awards and bonuses for employees who successfully engage across the silos.

Some take aways from our discussions regarding the future business models of banks in China:

  • if the bricks-and-mortar-based banks haven’t already begun a deep, revolutionary process to digitalize, they’ll never be the digital bank leaders they would like to be – it is just too late
  • product-based business models can be created, but how is this alone a strategy in the ever-increasingly commoditized banking – especially retail. Everyone agreed that this is a necessary but not sufficient factor toward developing a successful business model
  • the advisory-based model is the preferred business model of the future by far, but also requires the deepest and longest change management process of the three models, making it one of the most expensive and difficult. Just how does one really transform a sales force into an advisor team in a firm of more than 150’000 employees?

Like an armchair coach during the World Cup, many consultants and academics provide easy advise to some pretty complex problems. The real challenge is for the players on the field in these firms to be empowered to change and then let them execute the change they know is needed.

Here is the English-Mandarin version of the document we used as a discussion base.

Client Centric Business Models for PB – E-Mandarin

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