Core Viewpoint - The banking industry is experiencing a wave of app shutdowns, particularly in the credit card and direct banking sectors, as banks streamline their digital offerings to enhance efficiency and reduce resource waste [2][3]. Group 1: App Shutdowns - Multiple banks have announced the closure of various apps this year, particularly in the credit card and direct banking sectors [2][3]. - Over 20 banks have ceased operations of certain apps since the beginning of 2023, with 25 apps, including those from Minsheng Direct Bank and Kunlun Direct Bank, voluntarily deregistering [2][3]. Group 2: Reasons for Shutdowns - The initial push for independent banking apps was aimed at attracting users and increasing activity, but many apps have high download rates with low daily active users, leading to inefficiencies [3]. - The transition to a "stock competition" phase in digital banking, coupled with the decline in consumer spending and the credit card industry's contraction, has prompted banks to consolidate their app offerings [3]. Group 3: Industry Trends - The trend of banks shutting down apps reflects a broader industry shift towards reducing data silos, privacy risks, and compliance costs associated with maintaining multiple applications [3]. - The economic restructuring and weakened consumer sentiment are contributing factors to the shrinking credit card market, influencing banks to close related apps [3].