9月11日，民生银行发布公告，终止该行代销公募基金与"翼支付"平台业务合作。根据公告，自2025年9 月24日起，用户登录"翼支付"App，选择"添益宝"或"活期保"将无法跳转至民生银行代销基金频道。 近日，据每日经济新闻报道，民生银行与"中国移动和包"（以下简称中移和包）陆续终止金融产品代销 业务。自9月19日起，中移和包仅可查询民生银行业务，不可进一步操作。 除了与中移和包逐步终止代销合作，民生银行同时还在推进与华能集团旗下云成金服终止代销合作。 9月12日，智通财经以客户身份向民生银行客服询问相关事宜，对方表示："我行将于2025年9月19日 起，终止在'和包'平台本行代销公募货币基金业务合作。" 此外，该人士表示，如意宝存续合作商户中有华能集团（云成金服），华能云成金服项目持仓的工资宝 （长城货币市场证券投资基金A类，200003）产品并未取消，可在线上查询。目前，华能合作的"随心 存"和"利多多"业务，客户可在三方商户中操作。但随心存产品存量余额和签约关系已全部清理完毕， 产品下线，无需客户解约。 按照该管理办法，商业银行仅限于在本行营业网点、官方网站及互联网应用程序（App）等本行自主运 营且不依 ...

Core Viewpoint - Minsheng Bank is terminating its cooperation with third-party platforms "Yutong Life" and "Huawei Wallet" for the distribution of public money market funds, in response to the new regulatory framework set to take effect on October 1, 2025, which mandates banks to operate their own sales channels without relying on external institutions [3][5][6]. Group 1: Regulatory Changes - The new "Sales Agency Management Measures" issued by the National Financial Supervision Administration aims to clarify the responsibilities of commercial banks as sales agents and promote the healthy development of agency sales [6][8]. - Banks are required to establish a compliance framework, standardize sales behaviors, and enhance customer management to align with the new regulations [6][8]. Group 2: Operational Adjustments - Minsheng Bank will close its fund distribution channels on the "Yutong Life" platform starting August 25, 2025, and on the "Huawei Wallet" platform starting September 4, 2025, directing customers to use the Minsheng Bank mobile app for fund transactions [4][5]. - The bank's customer service indicated that the integration of third-party platform operations into the bank's mobile app is part of compliance with the new regulations [6]. Group 3: Challenges in Implementation - The implementation of the new sales regulations presents structural challenges, including product homogeneity among banks, which leads to low customer loyalty and increased competition [9][10]. - There is a gap between diverse customer needs and the banks' ability to respond effectively, particularly for different demographic groups such as the elderly and younger consumers [9][10]. Group 4: Strategic Recommendations - To address product homogeneity, banks should innovate and create differentiated product lines tailored to specific customer segments, such as specialized financial solutions for tech enterprises [11][12]. - Banks are encouraged to leverage big data for dynamic risk assessment and enhance customer service through personalized and digital offerings [11][12]. - Collaboration with fintech companies to share resources and reduce IT costs is recommended, especially for smaller banks [11][12].

Core Viewpoint - The implementation of the new regulations for commercial banks' agency sales business, effective from October 1, 2023, is prompting banks to adjust their sales models and strengthen compliance, indicating a shift towards self-managed channels [1][2][4]. Regulatory Changes - The new regulations restrict commercial banks to sell products only through their own channels, such as bank branches, official websites, and proprietary apps, prohibiting outsourcing or embedding sales processes in third-party platforms [4][5]. - Banks are expected to enhance their compliance and transparency in sales practices, ensuring that all sales activities are traceable and within their control [2][4]. Business Model Adjustments - A certain commercial bank has announced the termination of its fund sales cooperation with third-party platforms "Huawei Wallet" and "Yutong Life," signaling a broader trend among banks to reassess and modify their agency sales strategies [1][2]. - Other banks are likely to follow suit, especially those with strong self-channel foundations, as they adapt to the new regulatory environment [3][5]. Long-term Implications - The new regulations are anticipated to lead to a systematic restructuring of the agency sales model, compelling banks to improve their sales processes and service quality [1][4]. - In the long run, the regulations will promote a new phase of regulatory oversight that emphasizes full traceability in sales processes, enhancing the overall compliance level within the industry [4][5]. Strategic Focus - Banks are shifting their wealth management strategies to focus on self-operated platforms, which allows for better customer data management and personalized service offerings [5][6]. - The core competitive advantages for banks in the future will include leveraging their large customer bases, integrating various financial products, and enhancing professional capabilities to provide tailored wealth management solutions [6].

Core Viewpoint - The implementation of the new regulations for commercial banks' agency sales business is prompting banks to adjust their sales models, emphasizing compliance and self-managed channels [1][2][4]. Group 1: Regulatory Changes - The new regulations, effective from October 1, require banks to limit agency sales to their own channels, prohibiting outsourcing or embedding sales processes in third-party platforms [4]. - Banks are expected to terminate partnerships with third-party platforms, as seen with a certain commercial bank ending its fund sales cooperation with "Huawei Wallet" and "Yutong Life" [2][3]. Group 2: Business Model Adjustments - The shift towards self-managed channels is a clear signal of banks reinforcing compliance and risk management, allowing better control over sales processes [2][5]. - The transition may temporarily affect business efficiency as banks invest in system upgrades and customer training [4]. Group 3: Long-term Implications - The new regulations are anticipated to lead to a comprehensive restructuring of the agency sales model, enhancing the overall compliance level in the industry [4][6]. - Banks will focus on building robust self-operated platforms to improve customer engagement and service efficiency, aligning with the growing demand for diversified wealth management [5][6].