Core Viewpoint - The banking industry is experiencing a wave of app closures, with many banks, including state-owned and city commercial banks, shutting down their independent apps, particularly in the credit card and direct banking sectors [2][3]. Group 1: App Closures and Mergers - Over 10 small and medium-sized banks have completed the shutdown of their credit card apps in 2024, with at least 6 more expected to follow by October 2025, integrating their functions into main mobile banking apps [3]. - China Bank has become the first state-owned bank to close its independent credit card app, "Bountiful Life," migrating all functions to the "Bank of China" app [2][3]. - The trend of closing direct banking apps began earlier, with at least 21 banks ceasing operations of their direct banking apps in 2023, reducing the number of such apps to less than one-tenth of their peak [3][8]. Group 2: Reasons for App Consolidation - The closure of multiple apps is driven by the need to reduce operational costs and improve user experience, as many independent apps have low user engagement and high maintenance costs [7][8]. - Regulatory pressures have accelerated the consolidation process, with financial authorities mandating banks to optimize or terminate apps that have low user activity and high compliance risks [8]. - The credit card industry is entering a contraction phase, with a decline in the number of credit cards issued and overall transaction activity, prompting banks to shut down underperforming apps [8]. Group 3: User Behavior and Market Trends - Users prefer a single app that offers comprehensive financial and lifestyle services, leading banks to recognize the importance of a unified digital experience [7][9]. - The banking sector is transitioning from a phase of aggressive app proliferation to a more rational approach, focusing on enhancing user engagement and operational efficiency [7][9]. - The decline in user engagement is evident, with only a few credit card service apps achieving over 10 million monthly active users, while many others struggle to maintain relevance [6][7].

Group 1 - Multiple banks have recently announced the shutdown of their mobile apps, with over 10 banks ceasing operations of various apps, including credit card and direct banking apps [3][4] - The trend of shutting down apps is attributed to the inefficiencies and high operational costs associated with maintaining multiple apps, which often leads to resource wastage and management confusion [6][9] - The closure of these apps is also driven by the need for banks to optimize resources and reduce operational costs in a tightening economic environment, as banks face pressure on profitability and must focus on core business areas [10][12] Group 2 - The proliferation of multiple apps within banks has created a "data island" effect, making it difficult for banks to achieve a comprehensive understanding of their customers and provide personalized services [9] - The competitive landscape with internet financial platforms necessitates that banks consolidate their efforts to create a powerful "super app" that can compete effectively against third-party payment platforms [10][12] - The future of banking apps is expected to shift from quantity to quality, with a focus on developing a core app that serves as a comprehensive service platform, integrating financial and lifestyle services [12]

Core Insights - The recent trend of banks shutting down their standalone credit card apps reflects a broader industry shift towards centralized management of digital channels, aimed at enhancing user experience and reducing operational costs [1][2] Group 1: Bank Actions - Bank of China has announced the gradual shutdown of its "Bountiful Life" app, becoming the first major state-owned bank to close a standalone credit card app [1] - Several smaller banks, including Beijing Rural Commercial Bank and Bohai Bank, have also integrated their credit card app functionalities into their main banking apps [1] - Other banks, such as Shanghai Rural Commercial Bank and Sichuan Rural Credit Union Bank, have ceased their credit card apps as of 2024, consolidating services into mobile banking platforms [1] Group 2: Regulatory and Market Context - The closure and integration of credit card apps are driven by regulatory policies, cost pressures, and the need for improved user experience [2] - The National Financial Regulatory Administration issued a notice in September 2024, mandating financial institutions to optimize or terminate apps with low user engagement and high compliance risks [1] - Experts suggest that the trend of app consolidation may continue, especially among state-owned banks, as credit card loan balances decline relative to total loans [2]

Core Viewpoint - The banking industry is increasingly integrating various app functionalities into mobile banking apps to enhance user experience, reduce operational costs, and achieve centralized risk management [1][5]. 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 [3]. Group 2: User Engagement Challenges - The primary reasons for the "app slimming" initiative include low user engagement, poor user experience, and redundant functionalities [4]. - Initial strategies focused on lightweight, specialized apps to meet customer needs more precisely, but the proliferation of apps has become burdensome for consumers [4]. Group 3: Regulatory Influence - Recent policies from the National Financial Regulatory Administration emphasize the need for banks to manage mobile applications effectively, including optimizing or terminating low-engagement apps [4]. 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 prevention [5].

Core Insights - The recent trend of banks shutting down independent apps is driven by regulatory requirements and operational challenges within the industry [5] - Major banks, including China Bank, are migrating functionalities from independent apps to their main banking apps, indicating a significant consolidation trend [1][2] Group 1: Bank Consolidation Actions - China Bank has initiated the migration of its "Colorful Life" app services to the "China Bank" app, with plans to eventually discontinue the former [1] - Other banks, such as Bohai Bank, have already completed similar migrations, providing a template for the industry [2] - The integration trend is evident among major state-owned banks, with Construction Bank enhancing the integration of its "Construction Life" app into its main banking app [2] Group 2: Independent App Closures - The closure of independent apps is particularly pronounced in the credit card and direct banking sectors, with over ten banks having shut down their standalone apps since 2024 [1][4] - Beijing Bank's direct banking app is set to close in June 2025, marking it as the first direct banking app to officially exit the market [4] Group 3: Regulatory and Market Drivers - The regulatory push from the National Financial Supervision Administration emphasizes the need for banks to manage their mobile applications effectively, leading to the consolidation of underperforming apps [5] - The operational difficulties faced by independent apps, such as low user engagement and high maintenance costs, have prompted banks to streamline their services [5] - The integration of services into main platforms aims to enhance user experience and address competitive pressures from internet finance and third-party payment platforms [5]

Core Viewpoint - The banking industry is undergoing a significant transformation in its mobile applications, with many banks opting to integrate or discontinue their apps to enhance efficiency and user experience [1][2][4]. Group 1: Current Trends in Banking Apps - Zhuhai China Resources Bank announced that its "Run Wallet App" will cease operations on October 15, 2025, with functionalities migrating to the China Resources Bank App [1]. - A trend of "thinning" is observed in the banking app sector, with multiple banks consolidating or shutting down their apps, particularly in credit card and direct banking services [2]. - The closure and integration of apps reflect the challenges and strategies banks face during digital transformation, including cost reduction, efficiency improvement, and market competition [1][2]. Group 2: Operational Insights - Each banking app requires significant investment in human resources, technology, and funding, making independent apps less viable as new credit card user growth stagnates [2]. - Consolidating apps allows banks to focus resources on core business areas, enhancing overall operational efficiency, aligning with current financial regulatory policies [2][3]. Group 3: User Experience and Future Directions - The integration of apps is expected to improve user experience by providing a one-stop service for various financial needs, reducing the complexity of managing multiple apps [3][4]. - Future banking apps are anticipated to leverage advanced technologies like big data and artificial intelligence to offer personalized financial solutions and enhance user experience [4][5]. - The trend indicates a shift towards ecological, intelligent, and differentiated banking apps, moving beyond traditional functions to create a "life + finance" ecosystem [5].

Core Viewpoint - The banking industry is undergoing a significant transformation in its mobile applications, with many banks opting to integrate or discontinue their apps to enhance efficiency and user experience [1][2][4]. Group 1: App Integration and Discontinuation - Zhuhai China Resources Bank announced that its "Run Wallet App" will cease operations on October 15, 2025, with functionalities migrating to the China Resources Bank App [1]. - There is a trend of "thinning" in the banking app sector, with multiple banks shutting down or integrating their apps, particularly in the credit card and direct banking sectors [2]. - The closure or integration of apps is driven by the need to reduce costs, improve user experience, and respond to market competition [1][2]. Group 2: Operational Efficiency - Each banking app requires significant investment in human resources, technology, and capital, making independent apps less viable as new credit card user growth stagnates [2]. - Consolidating apps allows banks to focus resources on core business areas, enhancing overall operational efficiency and aligning with current financial regulatory policies [2][3]. Group 3: User Experience and Future Trends - The integration of apps is expected to improve user experience by providing a one-stop platform for various financial services, reducing the complexity of managing multiple apps [3]. - Future banking apps are anticipated to focus on ecological, intelligent, and differentiated services, moving beyond traditional functions to create a "life + finance" ecosystem [5]. - The use of advanced technologies like big data and AI will enable banks to offer personalized financial solutions and enhance user experience [4][5].

Core Viewpoint - The article discusses the ongoing transformation in the banking sector towards digital and intelligent services, highlighting the trend of app consolidation and the decline of standalone banking apps, particularly credit card and direct banking applications, as banks adapt to user needs and regulatory requirements [2][11][14]. Group 1: Digital Transformation in Banking - The People's Bank of China and other departments aim to establish a financial system that aligns with digital economic development by the end of 2027 [1] - Various banking apps are evolving from a tool-oriented approach to a more integrated, scenario-based, and ecosystem-oriented service model [2][18] - The trend of app consolidation is evident as banks shut down or integrate their standalone apps into more comprehensive mobile banking platforms [3][5][12] Group 2: Decline of Standalone Apps - The "Run Wallet" app by China Resources Bank will cease operations by October 2025, with its functions migrating to the main bank app [3][4] - A significant number of credit card and direct banking apps have been discontinued, with many banks merging these services into their primary mobile banking applications [5][10] - As of now, only a few direct banking apps remain operational, down from a peak of 135 in 2017, indicating a substantial decline in this segment [9][10] Group 3: Reasons for App Closures - Common issues leading to app closures include low user engagement, high operational costs, and redundancy of functions [11] - The shift towards integrating credit card functionalities into main banking apps is seen as a cost-effective strategy, enhancing user experience without significant drawbacks [12] - The closure of direct banking apps is viewed as a completion of their exploratory mission in financial innovation, rather than a failure [13] Group 4: Regulatory and Market Influences - Regulatory guidance emphasizes the need for banks to manage mobile applications effectively, focusing on user engagement and compliance [15] - The article highlights the need for banks to address "digital anxiety" by aligning their digital transformation strategies with actual user needs and market conditions [16][17] - Recommendations for banks include breaking down internal barriers, finding unique digital paths, nurturing tech-savvy talent, and enhancing online-offline channel integration [17]