Core Insights - The digital transformation of commercial banks is entering a new phase, with increasing competition in banking apps and challenges such as insufficient personalized recommendations and product service homogenization [1] - Major state-owned banks are solidifying their leading positions by implementing diversified platform strategies, focusing on credit card services to enhance digital life services [2] User Engagement and Market Dynamics - As of the first half of 2025, the mobile banking app market has transitioned to a saturated competition phase, with user growth plateauing and daily usage time decreasing from 4.93 minutes to 2.70 minutes [3][4] - The six major state-owned banks maintain a dominant position in mobile banking user engagement, with Agricultural Bank of China leading with 238 million monthly active users (MAU), a 4.8% year-on-year increase [4][5] Operational Strategies - State-owned banks are shifting from functional apps to ecosystem platforms, integrating financial services into high-frequency life scenarios to maintain user engagement [5][6] - The average MAU for major banks shows a decline in user activity for joint-stock banks, with China Merchants Bank experiencing a 1.2% decrease in MAU [6][7] Challenges for Joint-Stock Banks - Joint-stock banks face challenges from state-owned banks' market penetration and local banks' enhanced services, leading to a squeeze in their middle market [7][8] - The homogenization of financial products and changing user behaviors, with services increasingly embedded in third-party platforms like Alipay and WeChat, are impacting the usage of standalone banking apps [7][10] Future Directions - The evolution of banking apps towards comprehensive financial "super apps" is essential, expanding beyond financial transactions to cover various user needs [10][12] - The integration of AI technologies is crucial for enhancing user experience and operational efficiency, with banks focusing on intelligent interaction, risk control, and personalized marketing [15][16] Conclusion - The management and marketing of mobile banking should adopt an internet mindset, focusing on market, user, traffic, and product thinking to enhance customer acquisition and operational efficiency [18]