Core Viewpoint - The digital finance industry in China is experiencing a "retreat tide," marked by the closure and integration of various banking apps and payment licenses, indicating the end of an era characterized by rapid expansion and imitation of internet strategies without understanding the underlying ecosystem [2][5][28]. Group 1: Industry Trends - The number of credit cards and loan cards has decreased to 715 million, down 6 million from the previous quarter and 12 million from the end of last year, marking a continuous decline for 11 consecutive quarters [8]. - The total loan balance for credit cards among 14 listed banks fell by 2.56% in the first half of the year, while transaction volumes dropped by 11.1% year-on-year [9]. - The number of direct banks has significantly decreased, with 21 banks ceasing operations of their direct banking apps in 2023, reflecting a shift in strategy among banks [11][12]. Group 2: Market Dynamics - The mobile banking app user base has stagnated between 650 million and 700 million over the past three years, with daily usage time dropping from 4.9 minutes to 2.7 minutes, a decline of over 40% [11]. - The third-party payment industry is undergoing significant consolidation, with 107 payment licenses revoked, leaving only 164 licensed institutions, as many smaller players exit the market [14][25]. - Major state-owned banks are increasingly dominating the market, with their apps consistently ranking among the top ten in monthly active users, while smaller banks struggle to maintain user engagement [22][24]. Group 3: Challenges Faced - The industry faces issues of homogenization, with many banking apps offering similar services that overlap significantly with their parent bank's main app, leading to redundancy [21]. - High operational costs associated with maintaining multiple apps have resulted in unsustainable business models, particularly for smaller banks and direct banks [21]. - Regulatory scrutiny is increasing, with the government mandating the integration or shutdown of apps with low user engagement and poor functionality [26]. Group 4: Future Opportunities - The focus of competition is shifting from quantity to quality, emphasizing compliance and ecosystem collaboration over mere user acquisition [30]. - Banks are expected to concentrate resources on core services, transitioning from product-oriented strategies to user-centric approaches, leveraging data to meet diverse customer needs [30]. - The rise of digital currencies and advancements in payment technologies present new opportunities for growth in the financial sector, particularly in cross-border payments [31][32].

Core Insights - A wave of bank app closures is occurring in China, with over 10 banks participating in this "streamlining" process, including major state-owned banks and city commercial banks [1][2] - The closures are part of a broader trend where banks are integrating their services into fewer apps to enhance user experience and operational efficiency [2][3] Group 1: Bank App Closures - China Bank's credit card app "Binfeng Life" will gradually shut down, with all functions migrating to the China Bank app [1] - Zhuhai Huaren Bank announced that its "Run Wallet" app will cease operations by October 15, 2025, with features moving to the Huaren Bank app [1] - Beijing Rural Commercial Bank closed its "Phoenix Credit Card" app on March 31 this year, transferring functionalities to its main mobile banking app [1] Group 2: Industry Trends - The number of direct banking apps has significantly decreased, with only about 10 remaining, down from peak levels [2] - The integration trend reflects banks' shift away from "digital anxiety" towards a more rational approach to app management [2][3] - The Financial Regulatory Authority's guidelines have accelerated the consolidation process, urging banks to optimize or terminate low-activity apps [3] Group 3: Expert Opinions - Experts suggest that the focus should be on improving app operation and customer experience rather than merely increasing the number of apps [2][3] - Recommendations include prioritizing technology development, enhancing active user engagement, and improving customer experience over mere product deployment [3]

Core Viewpoint - Several medium and large banks in China are shutting down their independent mobile apps, indicating a shift towards consolidating services within fewer applications to enhance user experience and operational efficiency [1][5]. Group 1: Bank App Shutdowns - China Bank announced the discontinuation of its credit card app "Binfeng Life," with all functionalities migrating to the "China Bank" app [2]. - Beijing Bank stated that its direct banking app and website will cease operations on November 12, 2025, with services moving to the "Jingcai Life" mobile banking app [3]. - Over the past year, more than ten banks, including Postal Savings Bank and Beijing Rural Commercial Bank, have closed various mobile apps, primarily credit card and direct banking apps [5]. Group 2: Reasons for App Closures - The proliferation of independent banking apps was driven by competition for customer acquisition in the mobile internet era, leading to a situation where banks developed multiple apps [6]. - The existence of overlapping functionalities between direct banking and mobile banking apps has resulted in resource duplication and increased operational costs, negatively impacting user experience [7]. - Regulatory bodies have mandated banks to eliminate low-activity and high-risk apps, emphasizing the need for regular evaluation and optimization of mobile applications [8]. Group 3: User Engagement and Profitability Issues - Financial apps generally lack strong social attributes, leading to low monthly active user rates; for instance, the monthly active users of China Merchants Bank's credit card app dropped from 41.98 million at the end of 2023 to 39.08 million by mid-2024 [10]. - Many banks are integrating credit card and direct banking app functionalities into their main mobile banking apps to enhance efficiency and user experience [10]. - The direct banking model has faced challenges, including continuous losses, as exemplified by Postal Savings Bank's direct banking unit, which has struggled to meet market demands for comprehensive financial services [15][16].

Core Viewpoint - The banking industry is increasingly integrating various functionalities of their standalone apps into mobile banking apps to enhance user experience and reduce operational costs [1][4]. 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 due to low user engagement [2][3]. Group 2: User Engagement Issues - The primary reasons for the "app slimming" trend include low user engagement, poor user experience, and redundant functionalities [3]. - Initially, the banking sector believed that lightweight, focused apps would better meet customer needs, but the proliferation of apps has instead burdened consumers [3]. Group 3: Regulatory Influence - Recent regulatory guidance from the National Financial Regulatory Administration emphasizes the need for banks to manage mobile applications more effectively, including optimizing or terminating low-performing apps [3]. 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 management [4].

Core Viewpoint - The banking industry is increasingly integrating various functionalities of their standalone apps into mobile banking apps to enhance user experience and reduce operational costs [1][4]. 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 consolidating their corporate banking and lifestyle service apps [2][3]. Group 2: User Experience Challenges - The primary reasons for the app consolidation include low user engagement, poor user experience, and redundant functionalities [3][4]. - Initial strategies focused on lightweight, specialized apps to meet customer needs, but the proliferation of apps has become burdensome for users [3]. Group 3: Regulatory Influence - Recent regulations from the National Financial Regulatory Administration emphasize the need for banks to manage mobile applications effectively, including optimizing or terminating underperforming apps [3]. Group 4: Benefits of Integration - By creating a unified "super app," banks can significantly enhance user experience, lower operational maintenance costs, and improve risk monitoring and management [4].

多位接受《证券日报》记者采访的业内人士认为，数字化对于银行个体而言，是关乎生死存亡的大 事，是改变中国银行业未来五到十年最大的趋势力量。在此背景下，银行间的竞争逻辑也将发生变革， 传统上基于禀赋特征的竞争格局将被打破。 数字经济时代，数字化转型已成为银行业转型升级的战略手段，而疫情更是加速了银行业数字化转 型的步伐。近年来，商业银行纷纷加大对信息科技的投入，数字化在改变银行业务模式的同时，更是构 建起了数字金融新生态。 银行业务模式变革 《平台银行》作者刘兴赛告诉《证券日报》记者，其实中国银行业一直都在信息化转型，但与以往 的数据大集中、核心系统建设以及渠道的数字化（网银、手机银行）不同，如今领先的银行已进入全面 数字化转型发展阶段，其突出特点是应用大数据、云计算、人工智能等金融科技，实现银行业务发展的 线上化、智能化、场景化以及平台化。 刘兴赛介绍，具体而言，数字化包括银行业务的数字化转型、客户经营的数字化转型、风险管理的 数字化转型、场景运营的数字化转型、银行治理的数字化转型、银行科技以及数据基础的数字化转型 等。 于洪奎认为，从技术角度看，数字化转型本质是强化对数据的使用，包含数据的开采、提炼和利 用。 ...