Analysys: The "2023 China Mobile Banking Comprehensive Operation Report" jointly released by China Electronic Banking Network and Analysys Analysis shows that in the context of economic stabilization and recovery, China's mobile banking comprehensive operation index in the first quarter showed a steady upward trend in the quarter , the number of active mobile banking users increased month-on-month, leading to a rapid growth in the number of active users. The data shows that the number of active users of mobile banking service applications increased steadily in the first quarter, and the overall scale reached 532.8905 million in March. Compared with historical data, it is only lower than September 2022.
Judging from the performance of specific monitoring data, in the first quarter, the mobile banking index of major state-owned banks rose to 93.9 in March, the mobile banking index of joint-stock banks was 81.7, and the mobile banking index of city commercial banks was 61.3. From the perspective of the digital development trend of mobile banking, Analysys believes that China's mobile banking mainly showed the following three trends in the first quarter: first, strengthen intelligent applications and improve user service experience; second, start from the needs of target customer groups, Combining its own development advantages, speed up the construction of the scene ecological platform; the third is to upgrade security protection, comprehensively protect user privacy, and ensure account and transaction security.
1. Current hotspot monitoring of China's digital financial industry
Large-scale model AI sparks "brainstorming" in commercial banks
As the artificial intelligence model ChatGPT became popular all over the world, China's banking industry also started the "hot spot" mode in the first quarter. According to incomplete statistics, since mid-February, Baixin Bank, Xinwang Bank, Postal Savings Bank, Industrial Bank, Zhongbang Bank, Suzhou Bank, China CITIC Bank, Jiangsu Bank, etc. have successively announced the access to Baidu's "Wen Xin Yi Yan" ", becoming the first batch of ecological partners, and will join hands with Baidu to accelerate the application of artificial intelligence dialogue technology in the entire digital financial scene.
The National Big Data Bureau surfaced
Massive training data is one of the core elements to maintain the evolution of ChatGPT-like large models, and the importance of big data is even more prominent. On March 7, at the first meeting of the 14th National People's Congress, Xiao Jie, State Councilor and Secretary-General of the State Council, explained the State Council's institutional reform plan to the conference. Among them, in the field of data management, "establishing the National Data Bureau" is An important part of the institutional reform of the State Council, the National Big Data Bureau has officially surfaced.
At the beginning of the year, banks set off another upsurge in mobile banking iterations
In recent years, banks have continued to promote digital transformation. Focusing on digital construction such as digital marketing and intelligent operations, based on the principle of enhancing service efficiency and improving customer experience, banks have explored differentiated service models and iteratively upgraded mobile banking apps. According to incomplete statistics from China Electronic Banking Network, in the first quarter, China Construction Bank, Postal Savings Bank, Minsheng Bank, Bank of Beijing, Bank of Jiangsu, Bank of Qingdao, Bank of Changsha, Bank of Hankou, Bank of Jinzhou, Bank of Zhangjiakou, Bank of Guangxi Beibu Gulf, Bank of Rizhao , Chengdu Rural Commercial Bank, etc. completed the iteration of the new version of mobile banking.
Annual report show: The competition for investment in banking information technology continues to intensify in the industry
According to the annual report data, in 2022, the six major state-owned banks will invest a total of 116.549 billion yuan in information technology, an increase of 8.42% year-on-year. "Involution" beyond imagination. In 2020 and 2021, Xinke's investment will be 95.686 billion yuan and 106.818 billion yuan respectively. It is worth mentioning that Bank of Communications will have the highest increase in investment in letter technology among the six major banks in 2022, with a year-on-year increase of 32.93%, and it is the only bank among the six largest banks whose investment in letter technology accounts for more than 5% of revenue.
The 2022 China Banking Service Report is released, with 450.644 billion out-of-the-counter transactions
The "Report" shows that in 2022, the banking industry will strengthen the coordination and integration of online and offline channels, accelerate the extension of financial service tentacles, continue to expand new models of digital channel services, and continue to apply the latest financial technology to enhance omni-channel services. According to incomplete statistics, in 2022, the number of off-the-counter transactions of banking financial institutions will reach 450.644 billion; the total amount of off-the-counter transactions will reach 2375.89 trillion yuan; The number of employees was 43,800, and 641 million calls were handled manually throughout the year.
Over 2,000 mobile financial apps completed filing
As of February 8, the Internet Finance Association of China has released a list of 31 batches of real-name filings for mobile financial client applications (Apps). On the whole, there are a total of more than 2,000 mobile financial apps that have passed the filing in the 31 batches of filing lists, covering financial institutions such as banking, insurance, payment, and consumer finance. Yu Baicheng, president of Zero One Research Institute, said: At present, the filing work of mobile financial client software has entered the normalization stage. Judging from the list of the 30th and 31st batches announced recently, it shows a wide coverage and further expansion of the types of institutions involved. features.
China Construction Bank launches "CCB Cloud" brand in Beijing
On January 31, CCB held the "CCB Cloud" press conference in Beijing with the theme of "Cloud Banking, Building a Trustworthy Future", and launched the first batch of 10 cloud service packages in three categories, providing a one-stop service for the industry solution. Tian Guoli, chairman of CCB, pointed out that relying on "CCB Cloud", CCB will further promote new financial operations. The outlets can handle more than 8,000 government service items through the smart government platform, relieve the difficulties, congestion and pain points of enterprises and people in handling affairs, and help improve government governance capabilities.
China CITIC Bank launched the industry's first treasury management system independently developed by the bank "Tianyuan Treasury"
On February 24th, under the joint witness of a number of central state-owned enterprise customer representatives, China CITIC Bank released the "Tianyuan Treasury" service system in Beijing CITIC Tower, and launched the industry's first independently developed treasury management system - "Tianyuan Treasury" management system. China CITIC Bank stated that this marks that China CITIC Bank has become the first commercial bank in the industry with comprehensive service capabilities for corporate treasury systems.
2. Analysis of the overall situation of China's mobile banking digital operation in the first quarter of 2023
Mobile banking operation: The overall operation index in the first quarter was basically the same as that of the previous quarter, showing a steady upward trend within the quarter
In the first quarter of 2023, China's mobile banking comprehensive operation index showed a steady upward trend within the quarter. In January, due to factors such as the Spring Festival holiday, the mobile banking operation index fell slightly compared with the previous month. In February and March, against the backdrop of economic stabilization and recovery, the number of active mobile banking users increased month by month, prompting an increase in the number of active users. Combined with the innovative iterations of mobile banking in wealth management and smart services, the operating index has been driven to rise steadily.
Judging from the mobile banking operation index of different types of banks, the mobile banking operation index of major state-owned banks rose to 93.9 in March. In the first quarter of 2023, the version updates of major state-owned banks are mainly concentrated in January and March. We will continue to make efforts in areas such as finance, scene finance, service optimization, and security protection. For example, ICBC supports the use of personal pension funds to purchase funds, insurance, management, deposits and other products, and develops pension financial management functions to improve user stickiness; In terms of optimization and upgrading.
The mobile banking operation index of joint-stock banks showed a steady upward trend in the quarter, and the operation index in March was 81.7. According to Analysys Qianfan’s UEA user experience benchmarking analysis product monitoring, the top joint-stock bank’s mobile banking version iteration focuses on optimizing wealth management services in addition to continuing to promote the personal pension business. For example, China Merchants Bank starts from user needs. According to user characteristics and market rules, etc., it provides users with an asset allocation system with thousands of faces, and at the same time combines digital capabilities to provide users with "machine + human" all-weather and all-journey companionship.
In the first quarter, the city commercial bank’s mobile banking version was updated more frequently, making full use of the advantages of the sinking market, focusing on local services and scene finance, optimizing the old version and rural version, upgrading page presentation, process jumping, etc. However, compared with large state-owned banks and joint-stock banks, city commercial banks are limited by factors such as regional operation, lagging digital transformation, and insufficient target user volume, and their operating index is at a relatively low level.
3. Analysis of digital development of mobile banking in China
Active users: Monthly active users increased steadily during the quarter, and multiple efforts were made to improve user experience
In the first quarter of 2023, in addition to regular iterative optimizations such as regular compatibility, page upgrades, performance optimization, and known problem fixes, the version updates of mobile banking will mainly focus on the following aspects.
The first is to strengthen intelligent applications and improve user service experience. For example, ICBC mobile banking provides high-end customers with same-screen commentary on the function of adjusting the payment limit for transfer and remittance; China Construction Bank mobile banking upgrades the insurance service homepage to improve the intuition and convenience of product search and browsing, and provides various services for cross-border remittance. Automated services improve the convenience of filling out overseas remittance forms; China Merchants Bank provides barrier-free and senior versions, which support the system’s screen reading and broadcasting capabilities, and provide exclusive services for the visually impaired and the elderly; China CITIC Bank optimizes and upgrades the face recognition function module to improve Face recognition rate and stability.
The second is to start from the needs of the target customer group and combine its own development advantages to accelerate the construction of the scene ecological platform. For example, the Mobile Banking of Agricultural Bank of China improves the service experience in urban areas, car owner areas, and rural tastes, and provides discounts such as audio-visual members, credit card discounts, and instant payment discounts; Bank of Communications Mobile Banking enriches scene-based life services, gathers local characteristics, and creates a wonderful experience. Local services; Ping An Pocket Bank launched activities such as the God of Wealth Festival and consumer gifts; Bank of Beijing mobile banking added life service functions such as subway codes and city commuting; Bank of Suzhou built an Internet hospital platform that supports online registration and appointment consultation.
The third is to upgrade security protection, comprehensively protect user privacy, and ensure account and transaction security. For example, the Industrial and Commercial Bank of China’s mobile banking has added digital certificate verification elements for large-value transfer transactions, using a collaborative signature algorithm to support electronic signature-assisted authentication to protect the security of capital transactions; The bank has comprehensively upgraded its detection and protection capabilities, fully respected and protected customer privacy, and authorized content is clear and transparent.
From the perspective of the scale of active users, affected by factors such as economic recovery, the scale of active users of mobile banking service applications has risen steadily. In March, the overall scale reached 532.8905 million. The scale of active users of mobile banking of banks, joint-stock banks, and city commercial banks was 384.58 million, 168 million, and 41.1 million, respectively, with a quarter-on-quarter increase of 1.9%, 2.4%, and -2.1%, respectively.
Judging from changes in typical APP applications, China Construction Bank mobile banking has upgraded the page layout, optimized visual experience, simplified key service processes, and improved user experience in multiple dimensions; launched new ways of playing such as personal carbon ledger, new customer gift package, and rights center; Provide government affairs, elderly care services, inclusive finance, rural farming and other services to meet the diverse needs of various customers.
Bank of Communications mobile banking optimizes the presentation of wealth management pages, establishes financial channels and income centers, covers investment and wealth management, and loan money needs in a one-stop manner, and presents income in a comprehensive and accurate manner; understands the needs of elderly users, intelligently plans pension plans, and tailors for customers Customized pension investment plans; in terms of inclusive finance, connect me and enterprises to fully meet the financial service needs of small and micro customers.
User stickiness: The overall situation is stable and fluctuating, and there are small differences among various types of mobile banking
From the perspective of the number of activations per capita, the difference between different types of mobile banking is small and relatively stable. In March, the per capita activation times of mobile banking of major state-owned banks, mobile banking of joint-stock banks, and mobile banking of city commercial banks were 9.4, 8.4, and 7.3, respectively.
Continuous monitoring found that while the overall number of active mobile banking users is increasing, the number of activations per capita, which is one of the representative indicators of user stickiness, is fluctuating. Therefore, overall, it is necessary to improve user experience in many ways to increase user scale and user loyalty. According to the analysis, on the one hand, it is necessary to start from the perspective of user needs and continue to develop in the dimensions of optimizing business processes, improving the performance of mobile banking, increasing interactivity, pushing personalized products and services, launching new functions and services, and improving the security of mobile banking accounts. On the other hand, it is also necessary to make full use of the feedback data to find ways to improve user experience for further iterative optimization of mobile banking.
4. Analysis of digital operation of typical mobile banking
Bank of Beijing Mobile Banking "Jingcai Life" 7.0
"Jingcai Life" 7.0 continues to promote the integration of financial power and social resources, and provides a comprehensive package of "finance + life" service solutions based on customer needs. Create seven core scene groups of government affairs benefiting the people, urban travel, trade union services, health care, convenience payment, living consumption, and digital RMB, covering 42 categories such as party building, education, and rural revitalization, and more than 100 convenience and benefit services for the people. At the same time, with the help of the "Jingcai Wallet" aggregation payment platform, we will continue to optimize the construction of the card-using environment, and realize the flow of traffic from outside the domain to APP within the domain.
"Jingcai Life" 7.0 is committed to linking every key point of the user's life, and through the comprehensive integration of business, technology, scenarios, and services, it forms a retail financial moat that supports the entire life cycle of "children's finance, wealth finance, growth finance, and pension finance" , to create a "bank with you for life". In terms of children's finance, create a "Jingying Plan Zone" that integrates Xiaojing Card, Xiaojing New Year's Treasure, and financial and business education for teenagers. In terms of growth finance, we launched exclusive products such as "Dream Loan" and "Yingcai Loan", and introduced industrial and commercial, taxation, judicial and other data to match different amounts and terms for customers to meet customers' consumption, education, decoration, business, etc. Various types of funds need. In terms of wealth finance, the value cycle chain of "wealth management-asset management-investment banking" has been opened up, with the goal of "accompanying wealth" in the whole journey of pre-sale, sale and after-sale, and continuous optimization of online wealth management products to achieve "preferred products" Evolving to "asset allocation". In terms of pension finance, starting from the personal pension business, we will build a pension finance zone covering the multi-level security needs of the young, that is, the old, and the elderly, so as to meet the diversified pension needs.
Index sample appendices (in no particular order):
Large commercial banks: Industrial and Commercial Bank of China, China Construction Bank, Agricultural Bank of China, Bank of China, Bank of Communications, Postal Savings Bank of China
Joint-stock commercial banks: China Merchants Bank, Ping An Bank, Shanghai Pudong Development Bank, Minsheng Bank, China CITIC Bank, China Everbright Bank, Industrial Bank, Guangfa Bank, Huaxia Bank, Zheshang Bank, Bohai Bank, Hengfeng Bank
City commercial banks: Bank of Beijing, Bank of Jiangsu, Bank of Shanghai, Huishang Bank, Changsha Bank, Mengshang Bank, Zhongyuan Bank, Harbin Bank, Tianjin Bank, Ningbo Bank, Hebei Bank, Nanjing Bank, Hangzhou Bank, Hankou Bank, Chengdu Bank , Sichuan Tianfu Bank, Suzhou Bank, Lanzhou Bank, Guilin Bank, Guiyang Bank, Qingdao Bank, Longjiang Bank, Zhengzhou Bank, Urumqi Bank, Tailong Bank, Qilu Bank, Gansu Bank, Chang'an Bank, Jilin Bank, Shengjing Bank, Jincheng Bank of Weihai, Bank of Dongguan, Bank of Kunlun, Bank of Luzhou, Jinshang Bank, Bank of Xi'an, Bank of Zhangjiakou, Bank of Quanzhou, Bank of Jiangxi, Bank of Chongqing, Bank of Luoyang, Bank of Tai'an, Bank of Tangshan, Bank of Weifang, Bank of Jining, Bank of Guizhou , Guangxi Beibu Gulf Bank, Jiujiang Bank, Shizuishan Bank, Jinzhou Bank, Qishang Bank, Laishang Bank, Wenzhou Bank, Taizhou Bank, Fujian Haixia Bank, Guangdong Nanyue Bank, Yantai Bank, Dongying Bank, Yingkou Bank, Linshang Bank, Shaoxing Bank, Rizhao Bank, Chengde Bank, Dezhou Bank, Mintai Bank, Pingdingshan Bank, Zhuhai China Resources Bank, Xiamen Bank, Jinhua Bank, Dalian Bank, Xingtai Bank, Handan Bank, Liaoyang Bank, Ningxia Bank
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