Core Viewpoint - Several medium and large banks in China are shutting down their independent mobile apps, indicating a shift towards consolidating services within fewer applications to enhance user experience and operational efficiency [1][5]. Group 1: Bank App Shutdowns - China Bank announced the discontinuation of its credit card app "Binfeng Life," with all functionalities migrating to the "China Bank" app [2]. - Beijing Bank stated that its direct banking app and website will cease operations on November 12, 2025, with services moving to the "Jingcai Life" mobile banking app [3]. - Over the past year, more than ten banks, including Postal Savings Bank and Beijing Rural Commercial Bank, have closed various mobile apps, primarily credit card and direct banking apps [5]. Group 2: Reasons for App Closures - The proliferation of independent banking apps was driven by competition for customer acquisition in the mobile internet era, leading to a situation where banks developed multiple apps [6]. - The existence of overlapping functionalities between direct banking and mobile banking apps has resulted in resource duplication and increased operational costs, negatively impacting user experience [7]. - Regulatory bodies have mandated banks to eliminate low-activity and high-risk apps, emphasizing the need for regular evaluation and optimization of mobile applications [8]. Group 3: User Engagement and Profitability Issues - Financial apps generally lack strong social attributes, leading to low monthly active user rates; for instance, the monthly active users of China Merchants Bank's credit card app dropped from 41.98 million at the end of 2023 to 39.08 million by mid-2024 [10]. - Many banks are integrating credit card and direct banking app functionalities into their main mobile banking apps to enhance efficiency and user experience [10]. - The direct banking model has faced challenges, including continuous losses, as exemplified by Postal Savings Bank's direct banking unit, which has struggled to meet market demands for comprehensive financial services [15][16].

Core Viewpoint - The banking industry is increasingly integrating various functionalities of their standalone apps into mobile banking apps to enhance user experience and reduce operational costs [1][4]. Group 1: App Integration Trends - Several banks, including Beijing Bank and China Bank, are shutting down their standalone direct banking and credit card apps, migrating functionalities to their main mobile banking apps [2][3]. - The trend of app integration is not limited to direct banking and credit card apps; many banks are also applying for the cancellation of their enterprise banking and lifestyle service apps due to low user engagement [2][3]. Group 2: User Engagement Issues - The primary reasons for the "app slimming" trend include low user engagement, poor user experience, and redundant functionalities [3]. - Initially, the banking sector believed that lightweight, focused apps would better meet customer needs, but the proliferation of apps has instead burdened consumers [3]. Group 3: Regulatory Influence - Recent regulatory guidance from the National Financial Regulatory Administration emphasizes the need for banks to manage mobile applications more effectively, including optimizing or terminating low-performing apps [3]. Group 4: Benefits of Integration - By consolidating apps into a unified "super app," banks can significantly enhance user experience, lower operational maintenance costs, and improve risk monitoring and management [4].

Core Viewpoint - The banking industry is increasingly integrating various functionalities of their standalone apps into mobile banking apps to enhance user experience and reduce operational costs [1][4]. Group 1: App Integration Trends - Several banks, including Beijing Bank and China Bank, are shutting down their standalone direct banking and credit card apps, migrating functionalities to their main mobile banking apps [2][3]. - The trend of app integration is not limited to direct banking and credit card apps; many banks are also consolidating their corporate banking and lifestyle service apps [2][3]. Group 2: User Experience Challenges - The primary reasons for the app consolidation include low user engagement, poor user experience, and redundant functionalities [3][4]. - Initial strategies focused on lightweight, specialized apps to meet customer needs, but the proliferation of apps has become burdensome for users [3]. Group 3: Regulatory Influence - Recent regulations from the National Financial Regulatory Administration emphasize the need for banks to manage mobile applications effectively, including optimizing or terminating underperforming apps [3]. Group 4: Benefits of Integration - By creating a unified "super app," banks can significantly enhance user experience, lower operational maintenance costs, and improve risk monitoring and management [4].

Core Insights - The trend of shutting down and integrating banking apps continues, with Zhuhai China Resources Bank announcing the termination of its "Run Wallet App" service, reflecting a broader industry shift towards digital transformation aimed at reducing operational costs and enhancing efficiency [1][2] Summary by Category App Shutdown and Integration - Zhuhai China Resources Bank will officially stop the "Run Wallet App" service on October 15, 2025, migrating its functions to the China Resources Bank App for a one-stop service [2] - Many banks, including state-owned and joint-stock banks, are accelerating the consolidation of their apps, particularly focusing on credit card and direct banking apps [2][3] - The number of available credit card apps has significantly decreased, with most remaining apps concentrated among major state-owned banks, while city commercial banks and rural commercial banks have seen a decline in their credit card app offerings [2] Industry Trends - The integration of credit card and direct banking apps is driven by the need for banks to adapt to changing industry dynamics, as these apps have overlapping functions and are becoming less relevant [3][4] - The trend began several years ago, with banks starting to optimize channels and integrate apps, which has accelerated since 2023 [4] Reasons for Integration - The primary reasons for app consolidation include a shift from broad operations to more targeted approaches, focusing on enhancing user experience and operational efficiency [4] - Regulatory policies have also played a role, with the National Financial Regulatory Administration issuing guidelines to strengthen the management of mobile applications in the banking sector [4] Future Directions - The future of banking apps is expected to focus on three main trends: scenario-based integration, comprehensive ecosystem development, and intelligent upgrades through technology [6] - Banks aim to create a "financial + scenario ecosystem" that integrates various life services, enhancing user engagement and loyalty [6]