Core Insights - The banking industry is shifting its strategy regarding mobile applications, moving from a proliferation of independent apps to a more streamlined approach by consolidating functionalities into fewer platforms [1][2][3] - The closure of certain apps is primarily driven by low user engagement, redundant features, and high operational costs, prompting banks to focus on enhancing user experience through a unified platform [1][2] Group 1: App Consolidation Trends - Many banks have begun to shut down underperforming apps, with China Bank announcing the closure of its "Bountiful Life" app and Beijing Bank integrating its direct banking app into the "Jingcai Life" app [1] - The China Internet Finance Association reported that in the first half of the year, 66 new mobile financial apps were registered while 75 were deregistered, indicating a trend towards consolidation [1] Group 2: Focus on Credit Card and Direct Banking Apps - Credit card and direct banking apps are the primary targets for this consolidation, as the credit card market shows signs of stagnation, with a reported decrease of 6 million cards in the second quarter of 2025 [2] - The integration of these apps into mobile banking platforms is seen as a logical move since their functionalities are not essential compared to core banking services like account management and transfers [2] Group 3: Regulatory Influence and Future Directions - Regulatory guidance from the National Financial Supervision Administration emphasizes the need for banks to optimize or terminate apps with low user engagement and high compliance risks [2] - Experts suggest that smaller banks should leverage their local advantages to enhance their mobile banking platforms, focusing on creating a user-centric intelligent financial service environment [3] - The integration of services should not merely be a collection of features but should aim to embed financial services into high-frequency daily activities, thereby increasing customer engagement and loyalty [3]

Core Viewpoint - The article discusses how commercial banks are focusing on cost reduction and efficiency improvement in response to the ongoing pressure of narrowing net interest margins and declining asset yields [1][2]. Group 1: Liability Management - Commercial banks are actively reducing high-cost deposit products as a response to the central bank's interest rate cuts, leading to historically low deposit rates [3][4]. - A total of 42 listed banks in A-shares reported a decrease in interest expenses to 3.43 trillion yuan, an 11.36% decline compared to the same period last year, with some banks like Ping An Bank seeing a reduction of 21.61% [5]. - Banks are implementing strategies to clean up high-cost deposits and adjust deposit product structures to further lower overall liability costs [6]. Group 2: Operational Efficiency - Banks are adopting a "frugal" management approach to reduce operational expenses, with half of the listed banks reporting a decrease in their cost-to-income ratios compared to the previous year [7][8]. - Xi'an Bank showed a significant reduction in its cost-to-income ratio from 25.18% to 18.50%, well below the industry average of 31.82% [8]. - Major banks like Postal Savings Bank have also reported a decrease in operational expenses, attributing this to enhanced cost management and digital transformation efforts [9][10]. Group 3: Digital Integration - Banks are consolidating their mobile applications to reduce operational and maintenance costs, moving towards a "less but better" approach in app management [11][12]. - Several banks have closed independent credit card apps and integrated their functions into main banking apps, reflecting a shift from vertical management to localized operations [13][14].

Core Viewpoint - Several banks in China are consolidating their mobile applications to enhance user experience and address issues related to low user engagement, poor experience, and redundant functionalities [3][5][6]. Group 1: Company Actions - Beijing Bank announced the discontinuation of its direct banking APP and website effective November 12, with functionalities migrated to the "Jingcai Life" mobile banking APP [1]. - China Bank is migrating all services from its "Colorful Life" APP to the main "China Bank" APP, with the "Colorful Life" APP set to stop downloads and registrations [4]. - Other banks, including Beijing Rural Commercial Bank and Jiangxi Bank, have previously shut down their credit card apps, integrating their functions into mobile banking apps [4]. Group 2: Industry Trends - The trend of APP consolidation is not limited to direct banking and credit card applications; many banks are also merging enterprise banking and lifestyle service apps due to low user engagement [4][5]. - The Chinese Internet Finance Association has reported multiple banks applying for the cancellation of their enterprise banking apps and lifestyle service apps due to service cessation [4]. - Regulatory guidance from the National Financial Regulatory Administration emphasizes the need for banks to manage mobile applications effectively, focusing on reducing the number of low-activity and redundant apps [6]. Group 3: User Experience - Industry insiders indicate that the primary motivation for banks to streamline their apps is to improve user experience and reduce the burden of having multiple applications [5][6]. - Users have expressed frustration over the number of banking apps, preferring to consolidate their banking needs into fewer applications for better usability [6]. - The goal of creating a unified "super APP" is to enhance user experience while lowering operational costs and improving risk monitoring [6].

Core Viewpoint - Harbin Bank is conducting a system upgrade on September 25, 2025, which will temporarily suspend various banking services to enhance customer experience [1] Group 1 - The system maintenance will occur from 0:00 to 1:00 on September 25, 2025 [1] - During the maintenance period, services such as credit card applications, inquiries, activations, transaction notifications, and certain loan services will be unavailable [1] - Customers are advised to make necessary arrangements in advance due to the service interruptions [1]