According to the data in Quarterly Monitoring Report on China’s Mobile Banking Service in 2017Q4issued by Analysys, in the 4thquarter of 2017, the transaction scale of the market reached RMB 59.48 trillion, up by 3.6% from the previous quarter.

 
According to Analysys, in 2017, the Internet channels of commercial banks tended to be further mobile. They energetically developed mobile financial services represented by mobile banking, whose functions and application scenarios were continuously enriched. Meanwhile, they opened Class-II and Class-III e-account registration in mobile banking apps and enhanced FinTech application to support product and service innovation, improve user experience, and so on. Consequently, active users and transaction scales of mobile banking apps remained a stable growth. 


 
With respect to the market pattern of China’s mobile banking service in the 4thquarter of 2017, China Construction Bank ranked the first with 26.8% market shares, followed by Industrial and Commercial Bank of China (21.5%) and Agricultural Bank of China (13.2%). 

As with product innovation, China Merchants Bank, China Citic Bank, and Zhongyuan Bank Co., Ltd. released a new edition of mobile banking client, in an attempt to render diversified products and services more intelligent and to improve customer experience at the same time by enhancing FinTech apps. China Merchants Bank’s App6.0 went alive, comprehensively upgraded wealth management channels, constructed a pattern integrating branches, apps and scenes, realized pan-platform intelligence, launched new interactive design, CMB UI, and initially put forward the concept of mobile financial brand that “Each cent deserves”. China Citic Bank released a new edition of mobile banking client, upgraded customer experience, launched personal intelligent financial service, realized multidimensional safety guarantee, and initiated robo-adviser products. Zhongyuan Bank Co., Ltd. also released the mobile banking client of Version 4.0 and promoted robo-adviser, intelligent lending, AR account statement, etc. by a series of means like big data, cloud computer, augmented reality, face recognition, and fingerprint verification. In addition, ICBC made its robo-adviser, “AI Investment”, go alive. The service featured humanized and simple operation. “AI Investment” can analyze the trends of the markets such as stock market and bond market and provide fund portfolio schemes by intelligent investment models as long as clients select the specific investment risk grade and investment period.