BOB(SH:601169) Zheng Quan Ri Bao·2025-08-08 07:18Core Viewpoint - Beijing Bank announced the migration of its direct banking services to its mobile banking app "Jingcai Life" by June 25, 2025, marking a trend of consolidation in the banking sector as direct banks face challenges in maintaining a competitive edge [1][2]. Group 1: Company Actions - Beijing Bank's direct banking app, the first of its kind in China, will cease operations and integrate its services into the mobile banking platform [1]. - The direct banking model, launched in September 2013, initially showed strong growth, with customer numbers reaching 246,000 and savings deposits increasing by 463.1% to 630 million yuan by 2015 [1]. Group 2: Industry Trends - Several banks, including Hankou Bank, Guangfa Bank, and Minsheng Bank, have already shut down or merged their direct banking apps with mobile banking platforms, indicating a broader industry trend [2]. - The lack of a complete service ecosystem and overlapping services with mobile banking have led to the decline of direct banks, as they struggle to justify their existence amid rising operational costs and diminishing internet traffic benefits [2][3]. Group 3: Future Directions - Experts suggest that direct banks should either develop unique services to differentiate themselves or integrate their functions into mobile banking to enhance user experience and operational efficiency [3].