On June 30th, the launch ceremony for the 11th "Rongcheng Cup Financial Technology Innovation Case Selection" was held in Beijing.
"Retail banking remains the ballast for all commercial banks, and its importance is becoming even more prominent," stated Liu Jianjun, the former President of Postal Savings Bank Of China Co.,Ltd. (PSBC). He pointed out that under the triple pressures of capital, profit, and funding, retail banking is not an optional choice but a foundational capability for banks to navigate through economic cycles. The essence of retail banking lies in solidifying customer relationships, funding sources, and risk diversification capabilities into a long-term operational foundation.
At the same time, Liu Jianjun candidly noted that this "ballast" is currently facing a triple impact, with simultaneous shifts in customer structure, business models, and access points. Retail banks cannot rely solely on past channel advantages and scale inertia.
While retail banking faces these multiple impacts, Liu Jianjun indicated that the industry's competitive focus has shifted from seizing channels to safeguarding customer trust. In the face of these changes, artificial intelligence has become the core lever for addressing the pain points in retail banking operations.
"AI applications have moved from concept to reality, and the banking industry has entered a phase of engineering implementation. The key competition is not about whether one has a large model, but about the ability to densely and deeply implement scenarios and achieve tangible results," he remarked. In his view, four types of scenarios—intelligent customer service, marketing recommendations, risk warnings, and operational efficiency improvements—have a low barrier to entry, are less susceptible to AI hallucinations, and are suitable for bank-wide priority deployment.
According to Liu Jianjun, the greatest potential in retail lies in the customers and scenarios that were previously abandoned due to constraints in manpower and data.
So, what can AI bring to bank retail operations? Liu Jianjun elaborated on three substantial opportunities: First, it can restructure the workforce, with AI taking over repetitive tasks such as collections and basic credit inquiries, while the demand for professional wealth management and credit client managers continues to expand, forcing a skills upgrade across the entire staff. Second, it enables large-scale, refined customer management. Leveraging AI's capabilities in customer profiling and demand identification, banks can simultaneously meet the diverse needs of high-end clients for customized wealth management and the inclusive service needs of long-tail customers, breaking through the traditional limitations of human service coverage. Third, it activates niche customer segments and specialized scenarios that were previously unreachable due to manpower and cost constraints, fully unleashing the growth potential of retail business. This also assists financial institutions in implementing the "Five Major Financial Articles" strategy, precisely empowering the real economy.
Comments