One of the characteristics of retail is that it can deposit a large number of demand deposits. Relatively speaking, this kind of debt is insensitive to price. Therefore, in the era of interest rate marketization, banks can maintain good cost pricing and retail has good profit space. However, the high retail operation cost is the same difficulty in the industry.
In this regard, China Merchants Bank uses technology to build a platform and transfer more transactions to the platform, which can greatly reduce the unit cost of retail business. Therefore, in recent years, the retail customers and business of China Merchants Bank have grown rapidly, but the number of outlets and tellers has not increased much. China Merchants Bank's 20 14 interim report shows that its retail cost-income ratio is as low as 37%, far below the industry-recognized standard of 50%.
The real impact of internet finance on traditional commercial banks is that today's internet companies are more capable of gathering users, discovering user needs and serving users accurately than traditional commercial banks. This ability is the natural advantage of the Internet, big data and cloud computing. Because traditional commercial banks generally do not have this ability, they gradually lose their inherent advantages in financial services.
China Merchants Bank has long been aware of this shortcoming of traditional commercial banks. Driven by data, we established our own data warehouse system as early as 1999, and explored in the fields of data mining and data analysis.
Baidu encyclopedia-China merchants bank