The inclusive finance （retail banking) business further clarifies the development goals and paths, builds platforms, channels and scenarios, and it continuously innovates products and focuses on online and offline combined marketing. All of these result in a rapid development of various indicators, the significantly increased profit contribution and the continuous improvements of market competitiveness.
First, it focuses on the direction of inclusive finance business transformation, identifies the dual-purpose development (to increase savings and incomes) as well as the dual-development path (the branch focuses on the development of inclusive finance and integrates resources with other divisions.) and adheres to multi-product, multi-tool and multi-channel innovation.
Second, it highlights the platform development idea with the core of mobile banking, details the development promotion of online and offline combined community V2.0 version, linkage of HQ, branch and sub-branch, linkage of each divisions, builds characteristic scenes through the tri-units linkage and enhances customer acquisition ability to lead the business development.
Third, it adheres to the customer focused development concept, strengthens the development of customer experience, cross-sale, platform construction, product portfolio and technology advancement, improves the business system around cross-sale, enriches product line and creates characteristic products around the subdivision of customer groups. It also strengthens the establishment of talent team around innovation-driven, strengthens business coordination around the key tasks, enhances the ability of solving problems, promotes the transformation and development of the “platform-based, internet-based and big data-based” of the retail banking business.
Until now, its business of inclusive finance line mainly includes 8 business lines, such as savings deposit, inclusive finance loan, bank card business, intermediate agent business, mobile banking platform, cloud finance platform, WeChat banking platform and E-banking business.
2.1 Savings Deposit
The savings deposit is a deposit business designed for personal savings of monetary assets and interest earning, and it protects customer funds through the deposit insurance system. It has a wide range of deposit products and maturities. On the basis of traditional deposit products, such as current deposit, deposit and withdraw in lump sum, deposit in installments while withdraw in lump sum, deposit in lump sum and withdraw the interest periodically, personal notice deposit, time-demand optional deposit etc, it also launched featured savings deposit products, such as safe certificate of deposit, personal certificate of deposit etc. It's flexible for customers to choose or combine those products, resulting in achieving safety, liquidity and profitability of funds.
2.2 Inclusive Finance Loan
The inclusive finance loan aims to provide appropriate and effective financial services to all sectors and groups of society in needs of funds, and the key customer groups are micro enterprises, urban and rural residents. In recent years, in combination with the strategic orientation of big data-based, internet-based and platform-based, the inclusive finance line has been continuously innovating the loan products, improving loan processing efficiency and customer experience. At present, its main featured products are Panda Easy Loan, Home Loan, Micro Enterprise loan etc.
2.3 Bank Card Business
The bank card business is divided into debit card business and credit card business. TFB debit card service carries out the all-free policy of personal cardholder business and exempts all the service charges including charges for global ATM cross-bank withdrawals (the first 15 transactions per month), online banking and mobile banking inter-bank transfers, bank card opening, account managements and the SMS text etc, which is well known by customers. TFB credit cards have basic functions of consuming, withdrawing and depositing, as well as the characteristic rights of travel and first transaction reward gift etc. In addition, special installment credit cards can also help customers' daily consumption and provide them with comprehensive financial solutions.
2.4 Agency Business
TFB agency business income mainly contains three categories including fund, insurance and precious metals. The agency fund business mainly includes the fund account opening, fund subscription, fund application for purchase, fund redemption, fund conversion etc. The agency insurance business mainly includes property insurance, credit insurance, guarantee insurance, life insurance, annuity insurance and health insurance etc, which are sold through the cash counter and mobile banking. The agency precious metal business includes the agency sales of physical precious metal products through various online and offline channels,such as bank outlets, Tianfu mobile banking and Tianfu online shopping mall etc.
2.5 Tianfu Mobile Banking
Tianfu mobile banking is a mobile internet comprehensive service platform created with the development concept of platform-based, internet-based and big data-based by the Bank .It covers four service segments including financial service, e-commerce, entertainment and office administration. It uses advanced technology ability, and takes the lead in introducing facial recognition and other security measures to ensure the customer’s fund security. It also provides the customers with excellent experience as the starting point for its goal, and adheres to provide customers with information, funds, products, payment and other comprehensive financial services.
2.6 Tianfu-Cloud Financial Platform
Tianfu-cloud finance is an open platform for its cooperation, it integrates its financial abilities of accounts, products and payment etc and other service abilities of its partners. It also provides its corporate customers with one-stop, standardized, high capacity services. Based on the platform, the corporate customers can provide online real-time trading services through its accounts and payment and settlement with the customers’ authorization while providing their own products and services,
2.7 WeChat Banking
WeChat banking is a platform providing customers with convenient e-banking services and it is also a channel for quick access to information services. Customers can enjoy its WeChat banking services by following its public service account of "Sichuan Tianfu Bank". It mainly provides text message of account information change, balance inquiry, details inquiry, credit card application, loan application, and investment and wealth management services.
2.8 E-banking Business
Its e-banking business is mainly divided into self-service equipment business, business settlement and custody business.
2.8.1 Self-service Equipment
It has a variety of self-service equipments, such as STM, large-amount and high-speed CRS, MSP，electric receipt printer etc, and customers can handle self-account opening, withdraw and deposit, transferring, loss reporting, payment, signing up, wealth management and other services through the equipments. The development of self-service equipments insists on the concept of lightweight and paperless, and the business also achieves the inter-connection of equipment and scenarios, online and offline interaction with efficient services to make customers feel well cared and its service is convenient.
2.8.2 Business Settlement
It is covering the traditional bank card and the new bar code payment services, and the business settlement provides basic cashier and settlement services for businesses in various industries. At the same time, it provides specialized solutions for specific industries, effectively solves the pain points of business operation and meets demand of different industries to upgrade and improve efficiency.
2.8.3 Custody Business
It is combining with demand of users, and the custody business builds various offline trading scenes and continues to focus on user rights and interests. For instance, customers can enjoy preferential discount rights by using TFB bank cards and scanning ticket code on buses in Nanchong City.
3.Business Development Direction
With the rapid development of mobile internet, big data and artificial intelligence, the inclusive finance business is gradually entering a new era of full openness, mutual empowerment with technology, entrance to internet, risk control and marketing driven by big data. In the new era of its inclusive finance business, the inclusive finance business line shall build up core competitiveness of the Bank based on factors such as customer growth, full channel strategy, customer experience and risk control etc, which help it to achieve the leap-forward development speed of its business.