Direct Bank: city commercial banks launching channel counterattacks

Since the birth of a bank, the evolution of channels from physical sites to online banking to mobile terminals and new network platforms has never affected its importance. Even in the big data era, in addition to serving customers and attracting customers, channels have also been given the role of information collection, it is directly related to the service and risk control capabilities of future banks.

In the era of physical outlets, the overwhelming number of large state-owned banks have undoubtedly become China's banking giants. In the online banking era, China Merchants Bank, which took the lead in completing the online banking channel, has also successfully become the sixth largest bank. City commercial banks have been subject to regional operation restrictions since their birth. However, with the birth of internet finance, the network trend of bank channels has become increasingly fierce, and the channel function of physical outlets has become increasingly weak.

For city banks, this change in banking channels is a rare opportunity, because the gap between city banks and large banks and joint-stock banks is greatly reduced in terms of Internet financial innovation. To seize this opportunity, many city banks chose to build a direct bank platform.

The concept of direct selling bank comes from a mature foreign model: the so-called direct selling bank means that the financial business expansion is not based on counters, breaking the restrictions of time, region, and outlets, the bank business model and customer development model that provide financial products and services through electronic channels provide customers with simple, transparent and preferential financial products.

Recently, Bank of Shanghai officially launched an online direct selling bank-"upstream Express Line" on its official website ". At the early stage of the "upstream Express Line", four series of products, including deposit, financial management, fund and insurance, were introduced. First, "smart storage" is a smart deposit product. It can be used as needed. Based on the deposit period, it can enjoy the corresponding interest rates of regular savings, and the interest rate increases by 10%. Second, "financial benefits ", for the selection of various types of trusted financial products, suitable for idle financial management, currently on sale are Hua 'an Ji Xin, huitian rich financial management and other products; third, "security assurance", so that the customer Financial Insurance is correct, currently, products for sale are mainly provided by tian'an property insurance, which is "guaranteed to win No. 1", and "quickline Bao", which is a currency fund product of "t + 0, it supports one-minute purchase and real-time withdrawal. It is a "baby" product that combines yield and liquidity. Currently, Shangyin huibao monetary fund and yifangda Yi Financial Management Monetary Fund rank first in the industry.

In June July 24, the "direct bank" platform of Chongqing bank was officially launched. At the same time, it introduced three major products to customers: "Happy deposit", "julibao", and "DIY loan.

"Benefit storage" is a value-added RMB savings service product. After a customer signs a contract for the benefit deposit business, if the customer's electronic account funds reach or exceed the starting amount of 100 yuan, the customer will automatically generate a one-year benefit deposit account, within which the principal can be withdrawn at any time, the system will maximize the interest carried forward based on the actual period of deposit. The deposit period within one year is divided into one day, seven days, three months, six months, and one year, pay for the benefit based on the actual period of time.

Julibao is a yu'e Bao product jointly launched by Chongqing bank in response to customers' financial management needs. This product is connected to the southern Cash Market Fund. After the customer signs a contract with julibao, the current balance of the electronic account can be used to automatically purchase the currency fund, and t + 0 can be received in real time when the currency fund is redeemed.

"DIY loan" is an innovative personal loan product created by Chongqing bank in the same industry nationwide. It uses computers, mobile phones, and other clients to submit personal loan applications online over the Internet and make self-help pricing.

In addition to Bank of Shanghai and Bank of Chongqing, Bank of China, Bank of China, China Resources and other commercial banks have launched direct banking platforms, while in joint-stock banks, currently, only Minsheng and xingye have officially launched direct banking platforms, and their enthusiasm for building direct banking platforms has increased significantly.

In the critical period of the rise of internet finance and the upcoming market-oriented interest rates, direct bank channels are built for banks to meet the challenges. In fact, the rise of internet finance has objectively played a role in promoting the interest rate marketization process. For banks, Internet technology itself is an effective choice to cope with the impact of interest rate marketization, in the future, "Big Data" will become more and more important for banking operations. Direct selling banks are both Internet-based innovations and can become a platform for data collection.

With the rise of internet finance, banks have to take the initiative to sink their customer base, especially small and medium banks. However, banks themselves are at risk, and low-end customers are obviously unable to adapt to the entire banking system for a long time compared with high-end customers. As a result, with the birth of yu'e Bao, the bank's original channels cannot meet the needs of low-end customers, and it is impossible to rebuild the bank. Therefore, in addition to the original channel system, the establishment of direct bank channels has become the bank's choice.

The direct selling banks of city commercial banks have just been established, but it is not difficult to find in comparison with the direct selling banks of joint-stock banks that the "simple" nature of Direct Selling banks determines that the differences between them are not great. The direct bank of Minsheng Bank launched in last September has achieved "brilliant" results. Data shows that as of 14 billion, the number of assets managed by Minsheng direct selling bank had reached 0.13 billion yuan, of which demand deposits were "stored with ease", and the amount of money market funds in ruyibao was 13.9 billion yuan. This shows that the direct bank platform of the City Commercial Bank has great potential for development.

In addition to the availability of the outlook, the greater significance of the city commercial banks is that the Internet does not have regional restrictions. From the perspective of service channels, direct bank can provide customers with direct banking exclusive websites, mobile clients, service numbers, and other channels to provide uninterrupted services. In addition, the direct banking platforms currently available can be bound to any bank card for registration.

It is worth noting that, although the direct selling bank channel service's customer base is very sensitive to the price, the city commercial banks may attract considerable popularity in the short term, but in the long run, what determines customer loyalty is not a channel, it is also the comprehensive capabilities of banks. (Financial Times)