Client-Based Value Chain Analysis - Take Private Banking as an Example
Date Issued
2006
Date
2006
Author(s)
Hsu, Tsai-Chen
DOI
zh-TW
Abstract
The objective of this study is to discover high net worth individuals’ current status of wealth management and their objectives of wealth planning as well as analyze the value chain of the private banking activities. This paper adopted the research method of in-depth interview to achieve the objective of this study. Looking backward over the domestic literature of banking industry, there were limited research and study regarding the wealth management and/or private banking activities. The analyses of the customer-based private banking value chain had also not yet been found in Taiwan. To truly understand customer needs and provide the services with value creation accordingly became an important task for private banking and wealth management industry when facing the enormous market demand.
This study provides the definition of private banking activities based on the domestic and foreign literature. It conducts the surveys of industrial background and current development of the private banking markets. It also analyzes and makes comparisons of the differences of value chains between the general banking and the private banking industries. Using the in-depth interview, this study contains the survey of interviewing Taiwan high net worth individuals who are the customers of the local and/or foreign private banks. The survey includes the current status and experience of using the services provided by the private banks, their goals of wealth management, the way and to the extent that those goals were accomplished, and the customers’ views on the services that private banks should provide. Finally, the conclusions and suggestions are made based upon the analyses of the survey.
This study contains 30 interviews of Taiwan high net worth. Based on the conclusions of the survey, this study provides the following suggestions to the private banking industry:
1. Private banks should build up the functions of and provide the services of “wealth planning” －providing “integrated” and “consistent” private banking services. 2. Taiwan Private banks should focus on and develop the “domestic” high net worth individual markets. 3. Private banks should improve its customer satisfaction－be customer-oriented, truly understand customer needs and provide them the optimal services accordingly. 4. Private banks should enhance its capability of providing non-traditional banking services.
Subjects
私人銀行
財富管理
價值鏈
private banking
wealth management
high net worth individual
value chain
Type
other
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