Core Viewpoint - The recent decision by Bank of China to shut down its "Bountiful Life" app and migrate its functions to the main "Bank of China" app reflects a broader trend among banks to consolidate credit card applications due to increasing operational costs and profitability pressures in the credit card business [1][2][8]. Summary by Sections Bank Actions - On September 28, Bank of China announced the initiation of the service migration from the "Bountiful Life" app to the "Bank of China" app, with the former set to cease downloads and services in the future [2]. - Other banks, including various joint-stock and regional banks, have previously shut down their credit card apps, migrating functionalities to their main banking apps [8][9]. App Performance - The "Bountiful Life" app, which primarily served credit card functions, had a monthly active user count of 1.5454 million, ranking 13th among credit card apps in China [4][5]. - In contrast, the top five credit card apps had monthly active users exceeding 10 million, indicating a significant disparity in user engagement [4][5]. Industry Trends - The recent wave of app consolidations is driven by cost reduction and efficiency improvements, as maintaining separate apps for credit card services has become economically unfeasible due to rising profitability pressures [8][9]. - Historically, banks launched independent credit card apps to leverage high user engagement for broader retail business growth, but current market conditions have shifted the focus towards integration within comprehensive banking apps [9].
再见了 中行“缤纷生活”！大行宣布关停信用卡App 业内：盈利压力之下，运营独立App变得不再经济