吴比较/制图 Wu is/drawing

　　编者按：得渠道者得天下，金融产品销售的新渠道之战已如箭在弦。无论是成立刚五年时间的国华人寿，借道淘宝网创下“三天破一个亿”的销售额，还是实力雄厚的光大银行(601818,股吧)，凭借网销渠道发力揽储，种种案例对于众多金融机构来说，无疑都是不小的触动，销售渠道多元化的一纸战书已摆在各金融机构面前。

Editor's note:Have to channel the person,Financial product sales of the new channel war embargo against already.Whether it was just five years of guohua life,Tailgating taobao set"Three days break a"sales,Or strong everbright bank(601818,guba),With network pin channel hair store sales force,A variety of case for many for financial institutions,No doubt is a lot of touches,Sales channel diversified a paper of the war is on the front of financial institutions.

　　证券时报记者 刘雁

The securities times reporter LiuYan

　　近段时间以来，金融机构拓展网销渠道的尝试可谓“你方唱罢我登场”。国华人寿团购保单的争议尚未平息，光大银行又因在淘宝开店揽存款搅动了原本不平静的市场。

In recent times,Financial institutions to develop network pin channel try it"You will sing me my debut".Guohua life group purchase policy dispute has not calm,Everbright bank and because in taobao open a shop sales deposit stirred the originally not calm the market.

　　“与淘宝网合作仅是第一步，如果政策、技术允许的话，我们会有更多的金融产品销售从线下到线上。”光大银行零售业务部总经理张旭阳在接受证券时报记者采访时表示。

"And taobao cooperation is only the first step,If the policy/Technology permits,We will have more financial products sales from line to line."Everbright bank retail sales department general manager ZhangXuYang in accept the securities times reporter to interview said.

　　金融机构凭借网络渠道扩展业务无疑搅动了传统渠道的一池春水。但在业内人士看来，基于多项监管政策、客户习惯、既有软硬件设置等因素，金融产品的传统销售渠道格局短期难以改变。然而，对于新渠道的开发却又是众金融机构不可忽视的，得渠道者得天下，新渠道之战已如箭在弦。

Financial institutions with network channels to expand business undoubtedly stirred the traditional channel of water in a pool.But in the personage inside course of study looks,Based on a number of regulatory policy/Customer habits/Both software and hardware Settings etc factors,The traditional financial products sales channel pattern to short-term change.however,For the development of new channels but the financial institutions and cannot be ignored,Have to channel the person,The new channel war embargo against already.

　　金融机构频频“触电” Financial institutions frequently"Electric shock"

　　种种迹象表明，近年来电子商务已经广泛渗透到金融产品销售领域，越来越多的金融机构尝试“触电”，将电商作为新的销售渠道。

Indications that,In recent years, e-commerce has been widely to penetrate to the financial products sales area,More and more financial institutions try to"Electric shock",The electric business as a new marketing channel.

　　先是一个多月前，国华人寿在淘宝平台上创下了3天产品销售破亿元的业绩。接着热闹的是光大银行在淘宝团购平台“聚划算”上“出售存款”，这款名为“定存宝”的产品，采用了“买1000送1000集分宝”（相当于返还10元现金抵扣券）的促销手段。截至目前，光大此款产品的累积交易量已经高达5万余笔。按照光大银行的说法，此次活动费用由支付宝承担，光大银行仅支付卖家利息费用。

For more than a month ago,Guohua life in taobao platform for three days in product sales break one hundred million yuan performance.Then busy is everbright bank in taobao group purchase platform"Poly deal"on"Sell deposit",This kind of name"Time deposit treasure"products,the"Buy 1000 to 1000 set points treasure"(Return is equivalent to ten yuan in cash coupon deduction)Sales promotion means.So far,Everbright this product cumulative volume has been as high as more than 50000 pen.According to the everbright bank statement,The activity cost by pay treasure to bear,Everbright bank only pay the seller interest charges.

　　张旭阳称，此次与淘宝网合作参考了国外银行同业的一些经验，根据淘宝平台的特性对原有产品进行了改造，对于网民来说，这是除银行网点和网银以外的另一定期存款渠道。

ZhangXuYang says,The cooperation with taobao reference foreign Banks some experience,According to the characteristics of taobao platform to the original product innovation,For Internet users for,This is in addition to bank outlets and the other net silver deposit channel.

　　对于未来是否有更多的合作机会，张旭阳表示，如果政策允许的话，将继续探索贷款尤其是小微企业贷款的网销市场，而这一过程需解决对贷款对象进行评估以及发放等技术问题。

For the future are more cooperation opportunities,ZhangXuYang said,If policy permits,Will continue to explore loan especially small micro enterprise loans nets pin market,And this process need to be solved for loan object evaluation and distribution of technical problems.

　　尽管光大银行通过网销揽储颇具争议，但在中央财经大学中国银行(601988,股吧)业研究中心主任郭田勇看来，网上销售作为一种渠道创新，可节约柜面资源、降低成本，对银行这一做法应予支持与鼓励。

Although everbright bank through the network pin their controversial reservoir,But in the bank of China, the central university of finance and economics(601988,guba)Industry research center director guo TianYong looks,As a kind of online sales channels innovation,Map can save resources/Reduce cost,This approach to bank shall be supported and encouraged.

　　如果说国华人寿和光大银行尚停留在尝试层面，那么部分保险公司的“触电”已经迈出了实质性的一步。自2010年起，平安、安邦等多家保险公司便集体入驻淘宝网开展保险产品销售业务。此外，银行电商渠道的铺设也明显加快。

If guohua life and everbright bank is still stay in trying to level,So part of the insurance company"Electric shock"Have taken a substantial step.Since 2010,peace/Many insurance companies such as AnBang and collective in taobao development of insurance products sales business.In addition,Bank electric business channel laid also speeding up.

　　以交通银行(601328,股吧)为例，去年8月该行与阿里巴巴共同宣布推出“交通银行淘宝旗舰店”，这是国内银行业首度登录淘宝。通过交通银行淘宝旗舰店，用户可以直接购买交行提供的各类产品及服务，实现金融产品的网上交易。

Bank of communications to(601328,guba)As an example,Last August the bank and alibaba jointly announced the launch"Bank of communications taobao flagship store",This is the first domestic banking login taobao.Through the bank of communications taobao flagship store,The user can directly provide purchase in all kinds of products and services,To realize online transactions of financial products.

　　证券时报记者登录交行淘宝旗舰店发现，店中开放的内容包括：贵金属、基金、保险、个人及小企业贷款、贵宾客户服务、银行卡等6个频道，用户可在线浏览交行各类贵金属产品，并通过支付宝下单购买。

The securities times reporter login in taobao flagship store found,The inn in open content including:Precious metals/fund/insurance/Individual and small business loans/VIP customer service/Bank card six channel,Users can browse online in all kinds of metal products,And through the pay treasure to place an order to buy.

　　建设银行(601939,股吧)称得上是银行系电商建设的先行者。据该行电子银行部总经理刘建忠介绍，建行自建的善融商务平台自去年6月28日上线至今，交易额已经突破30亿元，主要集中于B2B（商户对商户）业务方面。

Construction bank(601939,guba)It is a bank is the pioneer of the construction of electric business.According to the general manager LiuJianZhong electronic k is introduced,The construction bank have good business platform harmony since last June and day online so far,Turnover has topped 3 billion yuan,The main focus on B2B(Merchants to merchants)business.

　　刘建忠指出，与信用卡商城不同，善融商务平台是电子商务与金融服务的深度结合，用户通过善融商务进行的一系列交易行为，能向建行提供更多自身信用指数的参考依据，从而和贷款额度相关联，建立信用机制。

LiuJianZhong pointed out that,And credit card different mall,Good melt business platform is electronic business and financial services with depth,The user through a series of good melt commerce transactions,The construction bank to provide more their own credit index reference,Thus loans and associated,Establish the credit mechanism.

　　据记者了解，一批基金公司也正在积极筹备淘宝旗舰店。南方某基金公司电子商务部负责人告诉记者，目前有20多家基金公司正在筹备建立淘宝直销店，目前只是在等待监管的进一步明确。

According to reporter understanding,A batch of fund company is also preparing taobao flagship store.The south a fund company electronic commerce person in charge told reporters,There are more than twenty house fund companies are preparing to establish ZhiXiaoDian taobao,At present only waiting for the further clear regulation.

　　去年以来，证监会针对基金在第三方交易平台上的销售高度关注。去年12月27日发布《证券投资基金销售机构通过第三方电子商务平台开展证券投资基金销售业务指引（试行）（征求意见稿）》之前，证监会已数次召开研讨会及现场调研，探讨电商模式以及相应的风险、资质等问题。

Since last year,Securities regulatory commission according to the fund in the third party trading platform sales high attention.Last December 27 release[Securities investment fund sales institutions through the third party e-commerce platform to carry out the securities investment fund sales business guide(trial)(draft)]before,Securities regulatory commission has held several seminars and field investigation,Discuss current business model and the corresponding risk/Problems such as qualification.

　　“节约成本当然是一方面考虑，但另一方面最主要还是为了接近更多客户群体，毕竟基金公司自身拓展客户还有很多限制。从长远来看，发展直销渠道将是未来的主要方向。”上述基金公司电子商务负责人称。

"Cost saving is, of course, on the one hand to consider,But on the other hand the main or in order to gain access to more customers,After all, fund company own expand customer still have a lot of restrictions.In the long run,The development of marketing channel will be the main direction of the future."The above fund company electronic commerce officials say.

　　金融超市与专卖并行 Financial supermarket and monopoly parallel

　　在多数受访人士看来，金融机构拓展网络渠道将是大势所趋，正如一位活跃于金融业和电商的人士告诉记者，“国外一些金融机构的"触电"已成主流，比如美国的公募基金业、日本的证券经纪业”。随着国内互联网客户年龄层的迁移、网销大环境的成熟，多家金融机构必然将网销作为渠道创新方向之一。

In most interviewed looks,Financial institutions to develop network channel will be the trend of The Times,As an active in the financial industry and electrical business people told reporters,"Some foreign financial institutions"Electric shock"Has become a mainstream,Such as the American public offering funds/Japan's stock brokerage".Along with the domestic Internet clients age layer migration/Net pin environment mature,Several financial institutions will inevitably nets pin as a channel direction of the innovation.

　　尽管如此，业界人士对于金融机构“触电”的具体模式却有着不同的看法。就目前而言，主要存在三种模式，深度开发自己的官网；在以淘宝为主的第三方平台开设直销店；通过第三方理财机构平台代销。

Even so,Practitioners for financial institutions"Electric shock"The concrete model has different views.For now,There are mainly three modes,The depth development of their own website;In taobao is given priority to third party platform ZhiXiaoDian opened;Through the third party financial institutions platform on a commission basis.

　　“前者有利于自有品牌的建立、客户黏度的增加，但往往存在初期投入成本高、知名度建立时间长等问题。而第三方平台本身已经具有一定的市场知名度，流量、客户资源相对稳定，借力第三方平台营销可快速实现业绩增速。”一位不愿具名的券商电子商务部人士称，“前者有如专卖店，后两者则类似金融产品超市。”

"The former is beneficial to the establishment of private brand/Customer viscosity increase,But often exist in the initial investment cost is high/Long established fame problems.But the third party platform itself has certain market popularity,flow/Relatively stable customer resources,Borrows the third party marketing platform can achieve rapid growth performance."An anonymous brokers electronic commerce officials said,"The former is like a store,The latter two is similar to financial products supermarkets."

　　鉴于这三种模式各有利弊，银行、基金、保险等金融机构都面临着同样的选择困惑，大部分金融机构选择了两种渠道并行的模式。

In view of these three models have advantages and disadvantages,The bank/fund/Insurance and other financial institutions are faced with the same choice confused,Most of the financial institutions chose two channels in parallel mode.

　　支付宝金融事业部总经理袁雷鸣近日在一次论坛上表示，所有的交易都会朝着交易成本最低的价值洼地流动，淘宝目前的交易转化率为13%，比业内平均水平高一倍。光大银行虽是第二家在淘宝开旗舰店的银行，但一上线就推出了“定存宝”这类创新产品，因而引起业界很大关注。

Pay treasure to financial department general manager YuanLeiMing recently in a BBS on Wednesday,All transactions will be toward the transaction cost minimum value depression flow,Clean out treasure the present transaction conversion rate is 13%,Than the industry average twice as much.Everbright bank is the second home in taobao open flagship store bank,But a line is introduced"Time deposit treasure"This kind of innovative products,Causing a serious concern in the industry.

　　然而部分受访人士的担忧也不无道理。按照上述模式，金融机构可能会受制于第三方平台，比如同业竞争可能挤占第三方平台的营销资源、抬高第三方平台的合作费用等；同时第三方平台的品牌波动对自身品牌亦会带来影响。这也是以交通银行和光大银行为代表的金融机构选择在第三方平台开设直销店，而建设银行显然希望利用自身平台抢占电商市场并带动传统业务线上发展的重要原因。

But part of the concern of people also makes sense.According to the above model,Financial institutions may be subject to a third party platform,Such as horizontal competition may occupy the third party platform of the marketing resources/Drive up the third party platform cooperation expenses, etc;At the same time the third party platform brand fluctuation on their own brand will also impact.This is also to bank of communications and everbright bank as a representative of financial institutions in the third party platform choice to open ZhiXiaoDian,And construction bank apparently wants to use their own platform take electric ShangShiChang and drive the traditional business online development important reasons.

　　“电子商务的市场巨大，在客户资源强大的背景下，商业银行大力发展电子商务也是推动中间业务转型的有效举措。”一位券商银行分析师告诉记者，但银行以自身渠道发展电商业务恐难与淘宝这类平台媲美。

"Electronic commerce a huge market,In under the background of strong customer resources,Commercial Banks to develop the electronic commerce is to promote the transformation of the intermediary business effective measures."A bank securities analysts told reporters,But the bank with its own channel development electric business business fear of difficult and taobao such as platform.

　　觊觎第三方理财超市的不止淘宝，新兴的网贷平台亦跃跃欲试。网贷平台人人聚财首席执行官许建文告诉记者，公司目前已与担保公司展开合作，“我们的目标就是做销售金融产品的淘宝，只做销售渠道，不揽储、不做风控，所有资金都归第三方管理。”

Pretend to third party financial supermarket more than taobao,The new network credit platform also itch to try.Net credit platform everyone moss CEO XuJianWen told reporters,The company has and guarantee companies collaboration,"Our goal is to do sales financial products of taobao,Only do sales channels,Don't pull store/Don't do wind control,All of the funds under management of the third party."

　　在他看来，未来一定会有类似的第三方理财网络超市出现，由于银行互相之间的排斥性，不太可能合作销售，而第三方则可以提供不同机构的多类产品供投资者选择。值得注意的是，随着新兴销售渠道的日益发展，未来风险点可能会更多，比如域名钓鱼等。

In his view,The future will have a similar third party financial network in the supermarket,As Banks mutual between repellency,Is unlikely to cooperation sales,And the third party may provide different mechanism of many kinds of products for investors to choose.It is important to note that,With the development of new sales channels,The future risk point may be more,Such as domain name fishing, etc.

　　“这需要金融机构在安全技术创新、客户服务等环节多下气力，提高风控能力，而监管层面也一直非常重视网销渠道的风险控制，规范政策正在陆续推出。”上述银行分析师称。

"This requires financial institutions in the security technology innovation/Customer service and other links under more strength,Improve the wind control ability,And the supervision level has also been very attach importance to network pin channel risk control,Standard policy is releasing."The above bank analysts say.

　　动了谁的奶酪 Who moved the cheese

　　“这是一场渠道革命，如今就连保险、基金、信托过去依赖的银行渠道，也开始将渠道重心逐渐转移到网络平台。”一位股份制银行信用卡中心高管告诉记者。

"This is a channel revolution,Now even the insurance/fund/Trust the past rely on bank channel,Also began to gradually transferred to the center of gravity channel network platform."A joint-stock bank credit card center executives told reporters.

　　这或许也是一把双刃剑。一方面，银行自身可依赖网络渠道扩展业务；另一方面，随着网络渠道逐渐成熟，银行所发挥的渠道作用未来也可能被削弱。对此，前述券商电子商务人士认为，“随着保险、基金等网络直销渠道的建立和扩张，银行所发挥的渠道作用将会被削弱。但很长一段时间内，基于多项监管政策、客户习惯、既有软硬件设置等因素，银行作为金融产品销售主渠道的格局不会被改变。”

Perhaps this is also a double-edged sword.On the one hand,Banks themselves can rely on network channels to expand business;On the other hand,As the network channels gradually mature,Banks play a role of channels in the future may also be weakened.this,The brokers electronic business people think,"Along with the insurance/Fund and other network marketing channel the establishment and expansion,Banks play the channel effect will be weakened.But for a long time,Based on a number of regulatory policy/Customer habits/Both software and hardware Settings etc factors,The bank as a financial product sales of the main channel pattern will not change."

　　这也是大部分受访人士的看法。尽管金融产品选择在网络推广成本较低，还可以突破地域限制，但并非所有的金融产品都适合网上销售。

This is most interviewed view.Although financial product selection in network promotion cost is low,Can also broke through the regional limits,But not all of the financial products are suitable for online sales.

　　中信信用卡中心研究与发展中心赵丽告诉记者：“可通过网络销售的理财产品具备一些特性：简单、标准化、时效性短，譬如旅游意外险；而诸如人身险这种需要面签的复杂产品就难以通过网络完全实现。”

Citic credit card center of research and development center ZhaoLi told reporters:"But through the network sale of financial products have some characteristics:simple/standardization/Timeliness short,Such as travel accident insurance;Such as life insurance and the demand side signed complex product is difficult to through the network fully realized."

　　赵丽认为，银行与保险、基金的路子可能还不一样，毕竟银行有网银，而且掌握着大量的客户资金数据，只是缺少像淘宝这样有人气的平台，因此并不排除未来多家银行之间有可能形成互联互通的平台来销售金融产品，也有可能与支付宝合作另外开辟线路。

ZhaoLi think,Banking and insurance/Funds may not be the same way,After all, the bank net,And holds a large number of clients fund data,Just like the lack of clean out treasure this someone gas platform,So does not rule out future many Banks may form the inter-communication between platform to sell financial products,It is possible to pay treasure to cooperation in addition a route.

　　据记者了解，银行对于网络的感情是复杂的，一方面他们希望能够利用网络平台来做一些事情，但另一方面又保持着警惕和谨慎的态度。

According to reporter understanding,Bank for network relationship is complicated,On the one hand they want to use the network platform to do things,But on the other hand, keep alert and cautious attitude.

　　网络销售平台是否会对银行的客户资源形成分流？某股份制银行人士对此并不担忧，“能真正掌握客户信息的还是银行，银行可根据客户资金状况，为客户量身定做理财产品，渠道所具备的只是销售方面的影响力。”

Network marketing platform will to bank customer resources form shunt?A joint-stock bank people don't worry,"Can really grasp customer information or bank,The bank may be based on customer capital position,Provides tailor-made financial products,Channels have only the influence of the sales."

　　“我们所担心的是客户资源流失到网络，将来会涉及利益分成以及客户数据安全等问题。保险和基金由于业务单一，他们对于网络合作显然更有动力。相对来说，银行有着多元化的业务，在政策尚未明朗的情况下还是趋于保守的。”上述股份制银行人士称。

"What we worry about is customer resources loss to the network,The future will involve share interests and customer data security problem.Insurance and fund because of a single business,They are obviously network cooperation have more power.relatively,The bank has diversified business,In the policy has not yet clear case or tend to be conservative."The person said joint-stock Banks.

　　与之形成鲜明对比的则是基金公司，由于长期以来对银行这一渠道过于依赖，因此对于直销的渴求更为强烈。“尽管现阶段对银行的冲击并不大，但今后随着越来越多的理财产品在网上销售，参与的银行也越来越多，基金公司的议价能力可能会增强，对于银行的渠道作用将形成一定的冲击。”前述基金公司电子商务部负责人称。他同时指出，随着网络平台的发展，未来对第三方理财机构也将造成影响，但对于诺亚财富这类客户掌控能力较强的第三方影响并不大。

In stark contrast, fund company,Due to the long time to bank this channel too rely on,So for direct selling for more intense."Although at present to bank impact is not big,But in the future with more and more financial products in online sales,Participation in the bank also more and more,Fund company bargaining power will increase,For bank channel role will form a certain impact."The fund company electronic commerce, the ministry responsible for person.He also pointed out that,With the development of the network platform,The future of the third party financial institutions will also affect,But for Noah wealth such customer control ability strong third party influence is not big.

　　与此同时，网销渠道的拓展对于金融产品销售人员来说无疑是一场挑战。对于金融机构的理财经理来说，未来或许要向更高端和更专业的方向发展，简单的产品可以通过网络直销，而定制的、个性化产品则需要理财经理在线下完成。

meanwhile,Net pin sourcing for financial products for the sales staff is undoubtedly a challenge.For financial institutions for financial manager,The future may be toward more high-end and more professional direction,The simple product can through the network marketing,And custom/Personalized product requires finance manager in the finish line.