1. Improve the organizational management mechanism. From the perspective of business innovation system, at present, the organizational system of commercial banks in China is a first-class legal person with intensive management and professional management, and the independent authority of branches is small. Under this organizational system, even if the grass-roots branches have innovative motives, there are no specialized R&D institutions and talents. Therefore, it is necessary to establish a complete and unified business innovation organization, which is responsible for the research, development, organization and leadership of business innovation, and clarify the status, functions and roles of branches in business innovation activities, so as to form a business innovation management mechanism from market demand-feasibility demonstration-product research and development-pilot launch-tracking feedback-perfect promotion, with their own responsibilities, organic connection and orderly operation.
2. Improve the information transmission mechanism. We should improve the top-down and bottom-up multi-channel information transmission mechanism as soon as possible. Branches of domestic commercial banks should improve their ability to respond to market demand information and market dynamics of innovative products, constantly put forward innovative opinions and suggestions, and actively reflect them. It is necessary to strengthen market research, track the new trends of financial services and financial products at home and abroad, clarify strategic objectives, actively promote business innovation, and guide operating institutions to market innovative products.
3. Establish product research and development mechanism. From a strategic perspective, establish and improve the forward-looking business innovation product catalogue that conforms to the actual situation of China commercial banks and domestic financial markets, handle the relationship between short-term, medium-term and long-term benefits according to the urgency of innovation demand, and organize research and development of business innovation products in a planned way. In the process of product research and development, we should pay attention to the actual situation of commercial banks' business processes, meet the needs of customers and risk control, and do not blindly seek innovation and blindly develop products that are not suitable for the domestic market and increase the risks of banks.
4. Establish a risk cost mechanism. At present, some commercial banks do not have a correct understanding of the risk cost of financial innovation. Because of fear of risks, innovation lacks motivation. To carry out business innovation, we must establish the concept of risk cost, encourage bold attempts and tolerate failure. Guide employees to take a positive view of business innovation, be enterprising and dare to take innovation risks.
5. Establish an assessment and incentive mechanism. Clarify the requirements of business innovation, development and management; Clarify the powers and responsibilities between departments; Clarify the reward and punishment measures for business innovation, establish and improve the incentive mechanism for financial innovation from a strategic perspective, and maximize the internal motivation of innovation. While increasing material incentives, we should pay attention to spiritual incentives to form a strong atmosphere of respecting talents, so that employees' personal values can be realized to the greatest extent, and they can gain a sense of accomplishment and satisfaction in the work process. The assessment and incentive mechanism should not only strengthen the spirit of innovation, but also cultivate the awareness of risk prevention. While paying attention to the number of innovative products, we should also pay attention to the benefits generated by innovative products.
Second, adhere to the combination of "takenism" and independent research. According to the current market situation, commercial banks can imitate the products of foreign developed countries, such as debt management, accounts receivable sales, automatic transfer services, floating interest rate bills, money market mutual funds, foreign exchange swaps, money market deposit accounts, currency swaps, interest rate swaps, loan securitization, etc., and actively carry out characteristic innovations. At present, it is not appropriate to imitate and promote financial derivatives in developed countries on a large scale. At the same time, according to the development and changes of market demand and technological progress, we can transform China's basic and traditional businesses and study and develop new financial services suitable for China's actual financial operation.
Third, provide legal protection for the business innovation of commercial banks. By protecting the intellectual property rights of business innovation of commercial banks, we will give preferential policies to financial innovative products that are conducive to economic development and expand financial consumption, such as allowing commercial banks to apply for patent rights for business innovative products and giving commercial banks a certain protection period. Some innovative products should also be protected by law.
Fourth, provide a suitable regulatory environment for business innovation of commercial banks. First of all, financial supervision should encourage, protect and standardize innovation in essence. From the current stipulation that "what can be done can be done" to the stipulation that "what cannot be done can be done". Secondly, at present, the commercial banks in China are monopolized and excessively competitive. Monopoly will inhibit the internal impulse of innovation, while unfair competition will destroy the external order of innovation. Regulators should manage all commercial banks according to market principles, eliminate all kinds of policy discrimination, and let commercial banks operate independently and seek development under the same policy conditions.
Verb (abbreviation of verb) Take effective risk prevention measures. Business innovation is a "double-edged sword", which not only promotes the rapid development of commercial banks, but also easily leads to risks. When designing financial innovative products, financial institutions should first consciously minimize their risks, establish strict systems and implement risk prevention measures. It is necessary to establish an effective early warning mechanism for innovative business risks, consciously use the market to test various innovative businesses, monitor their risks, improve innovative products in time, and establish an effective risk prevention system and strict follow-up supervision mechanism. At present, some financial innovations that do not have the development conditions, speculation and virtuality in China should be carefully studied, strictly controlled and prudently developed.
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