Analysys: The transaction size of China's online banking reached RMB 536.3 trillion in 2016Q4.
According to the data in the Quarterly Monitoring Report on China's Online Banking Market in 2016Q4 newly released by Analysys Industry Database, the transaction size of China's online banking customers reached RMB 536.3 trillion in the fourth quarter of 2016, with an increase of 6.1% over the previous quarter.
According to the data in the Quarterly Monitoring Report on China's Online Banking Market in 2016Q4
newly released by Analysys Industry Database, the transaction size of China's online banking customers reached RMB 536.3 trillion in the fourth quarter of 2016, with an increase of 6.1% over the previous quarter.
Analysys believes that the growth of the trading volume of the personal online banking slows down due to the mobile banking and the third-party payment; the personal online banking can focus on large-amount money transfer, complex transactions and specially authorized business; and the transaction volume of the corporate online banking keeps growing stably and its main business includes account enquiry, reconciliation, fund transfer, payment, collection and salary processing.
In the fourth quarter of 2016, ICBC, CCB, Bank of Communications, ABC and BOC ranked in the top five in the market with the huge customer base, collectively accounting for 71.3% market share. China Merchants Bank took the sixth place with the market share of 6.5%, which was followed by China Minsheng Banking, China Industrial Bank and China CITIC Bank.
In respect of product innovation, CCB's new-version personal e-bank upgraded superior financial services, adding the item of integrated points and launching exclusive service programs for the customer groups in need of health, housing, car life and trans-border services. ABC enabled the function that allows the urban residents in Xi'an City to pay basic medical insurance premiums through the personal e-bank, which further enriches the characteristic business in Shaanxi Province’s system and provides customers with better use experience. In respect of the innovation in e-banking products and services, Analysys believes the existing e-banking payment service can basically satisfy the users' need for payment of electric charge, water charge, communication fee, gas charge and call charge. In the future, banks should gradually involve the payment of property costs and the recharging of bus cards.
With respect to the marketing activity, Internet broadcast, a new play via Internet, was introduced in the marketing of e-bank in the fourth quarter. For example, ICBC introduced the Internet broadcast by online celebrities in its second "1118 Fans Event" and produced reality show to closely interact with users in both online and offline ways. Through the Internet broadcast on ICBC's official account, fans can not only see the spectacular scene of the event in real time, but also snatch a red envelope, enhancing the fans’ sense of participation. However, offering discount, sending gifts and attracting customers by cooperation with a third party were still important means for commercial banks to carry out marketing activities, such as the Bank of Communication’s activity of "Providing Gifts Every Month for Settlement of Exchange via E-bank," China Minsheng Bank's activity of E-bank Environment Day, and China Industrial Bank's series of network finance activities. In the past four quarters, China Industrial Bank successively conducted the network finance activities such as sending gifts, topping up your mobile phone, offering additional discount, and cooperating with Vipshop and Mangocity to attract customers.
Analysys believes commercial banks should try Internet broadcast in the marketing activities and integrate the hotspots of online celebrity, reality show and so on. Moreover, commercial banks can infuse the e-bank business into the enrollment, content creation and other links.
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