** Zero One Think Tank
Author |Su Yue
According to the "2023 China Digital Finance Survey Report", among retail digital financial channels such as online banking, mobile banking, WeChat banking, and ** banking, the proportion of personal mobile banking users has reached 86%, which has stopped growing, but is significantly higher than the rest of the channels. Mobile banking is still the key force and main position of banks' digital operations. With the in-depth promotion of digital and intelligent transformation, the growth rate of new customers has peaked, and deep cultivation of stock and mining specific increments have become the core growth means of mobile banking. According to incomplete statistics from Zero One Think Tank, since the third quarter of 2023, most of the upgrading and transformation of bank apps have focused on modules such as wealth management, scenario construction, smart finance, and pension services. Essentially, these initiatives ultimately come down to improving customer experience and engagement in order to maximize customer value. Making services "lighter" to improve convenience is also the direction of adjustment of some mobile banking, such as Bohai Bank's integration of credit card apps into personal mobile banking. In the Mid-Autumn Festival, National Day, Double 11 and other nodes, mobile banking APP has become one of the strategic places for banks to promote new diversion. Bank apps pay more attention to the construction of the payment scene ecosystem, and work with online e-commerce and offline brand stores to carry out various preferential activities through instant discounts in supermarkets and exclusive consumption discounts, and at the same time cut into high-frequency life scenarios such as cultural tourism, medical treatment, drug purchase, and online government affairs, so as to achieve the purpose of acquiring, living, and retaining customers. In addition, intelligent services have become the highlight of the mobile banking app version update, playing an increasingly important role in product interpretation, investment decision-making, business reminders, interactive experience, etc. Since the third quarter, Bank of Communications, Postal Savings Bank, Bank of Shanghai, China Merchants Bank, etc. have applied the iteratively optimized digital human to the mobile banking app, and landed in the direction of customer service, risk control, and new operation, so as to comprehensively improve the intelligent level of remote banking and customer experience. Since 2020, Zero One Think Tank has systematically interpreted the development and changes of China's banking industry's digital financial ecological platform, of which mobile banking is an important part. Previously, we have released 7 consecutive issues of the "Top 100 Mobile Banking" list. In this issue, 264 representative samples of mobile banking apps from 218 banks are selected and comprehensively analyzed according to the evaluation system set by Zero One Think Tank. Zero One Think Tank has built a four-dimensional indicator system for mobile banking, including user scale stickiness, average daily start-up and use, store word-of-mouth score, and product function experience, and refined it into 12 secondary indicators, as follows. Table 1: Rating System for Digital Competitiveness of Mobile Banking
Note: Apps with monthly active < of 100,000 are not included in the ratingIf the number of ratings of the current version of iOS is less than 100, 50% of the ratings will be counted
Source**: Zero One Think Tank.
Comprehensive score: state-owned banks and joint-stock banks ranked in the top 10, and the number of top 30 city commercial banks increased to 7Since the third quarter of 2023, the overall monthly active users of mobile banking apps have continued to grow, with more than 60% of the banks on the list showing positive year-on-year growth. The relative rankings of large state-owned banks and joint-stock banks have changed again, with more urban commercial banks newly promoted in the top 30, while rural financial institutions and private banks have decreased relatively well. Some small and medium-sized banks have made significant improvements in terms of overall rankings, monthly active users and word of mouth, and have gradually built differentiated advantages by enhancing their digital competitiveness. (1) TOP100 summary: China Merchants Bank entered the top three, the number of city commercial banks increased, and the number of seats of private banks decreasedThe state-owned banks are firmly in the top 10 on the list, mainly due to their scale advantages. In the third quarter of 2023, the average number of monthly active users of the six major banks exceeded 26 million, reaching a maximum of 14.3 billion. In terms of overall scores, ICBC and ABC each scored 9916 points, 9550 points in the first place.
I. Second;The Postal Savings Bank of China fell one place from the previous period, ranking tenth. China Merchants Bank with 8606 scored more than China Construction Bank, ranking third, although it is not as good as China Construction Bank in terms of user scale stickiness and average daily start-up use, but its reputation is outstanding. Ping An Pocket Bank at 70With 86 points, it ranked seventh, and Shanghai Pudong Development Bank and Industrial Bank ranked eighth and ninth respectively, among which Industrial Bank rose one place compared with the previous period. In the top 30, joint-stock banks occupy one-third of the seats, in addition to the above four CITIC Bank, Minsheng Bank, Everbright Bank, Zheshang Bank, Huaxia Bank, Guangfa Bank, Bohai Bank. Among the city commercial banks, a total of 7 entered the TOP30, an increase of 3 seats from the previous period: Bank of Beijing (22nd), Bank of Hangzhou (25th), and Zhongyuan Bank (30th). Bank of Ningbo still ranks first among city commercial banks, ranking 13th overall. Compared with the previous period, the rankings of the two city commercial banks have risen significantly: Bank of Beijing has risen 18 places to rank 22ndBank of Hangzhou rose 10 places to 25th. Among the rural financial institutions (mainly rural commercial banks and rural credit cooperatives), a total of 3 entered the TOP30, a decrease of 4 seats from the previous period, including Fengshou Internet (16th), Chongqing Rural Commercial Bank (23rd), and Fujian Rural Credit (24th). Guangdong Rural Credit and Changshu Rural Commercial Bank have risen greatly, while Shaanxi Xinhe and Heilongjiang Rural Commercial Bank have fallen greatly. In the past five years, Zhejiang Rural Credit Co., Ltd.'s Fengshou Internet APP has continued to promote the digital layout and technology investment of online and offline integration, and has gradually improved the full-coverage service network with the support of more than 4,100 subordinate outlets, more than 10,000 Fengshou post stations and more than 20,000 village-level financial service points, forming a differentiated competitive advantage in a certain region. The number of private banks in the top 100 decreased from 8 in the previous period to 5. Among them, WeBank surpassed MYbank to rank 14th, Hunan Sanxiang Bank rose 16 places, and Zhongbang Bank entered the TOP30. Table 2: Top 100 mobile banking digital competitiveness in 2023Q3
Note: 1. Stickiness of user scale: The number of monthly active users and the average number of daily active users are from Analysys Qianfan, and the average value of 2023Q3 is taken
2. Average daily start-up use: The average number of starts per day, the average duration of use per day, the number of start-ups per capita per day and the average number of times per capita per day are from Analysys Qianfan, and the average value of 2023Q3 is taken
3. Store word-of-mouth score: The ASO keyword index (Apple) selects the average value of the first day of each month in 2023Q3, and the remaining three values as of December 5, 2023;
4. In view of the situation of multiple mobile banking clients of a bank, select the highest-ranking personal mobile banking app to participate in the selection and display
5. The name used by some bank apps is not the name of the bank, such as "Ping An Pocket Bank" of Ping An Bank and "Harvest Internet" of Zhejiang Rural Credit Co., Ltd.;
6. This list** only displays two representative indicators for reference, namely "average monthly active users" and "current version score of iOS platform".
7. This selection is mainly based on publicly available data, and the scores are for reference only, and there may be omissions and subjective opinions in the selection process.
Data**: Zero One Think Tank, Analysys Qianfan.
(2) Types of TOP100 institutions and their provinces: urban and rural commercial banks increased, and Shandong and Jiangsu were more on the listThe selected TOP100 mobile banking list shows significant localization and personalization characteristics. The number of urban commercial banks reached 44, an increase of 3 over the previous periodfollowed by rural financial institutions, with 33 selected financial institutions, an increase of 2 from the previous periodThe number of private banks was reduced to 5;Large state-owned banks and joint-stock banks were once again fully selected, with 6 and 12 respectively. In addition, all foreign-funded banks fell outside the top 100 due to low monthly activity. In addition to the six urban commercial banks of Bank of Ningbo, Bank of Jiangsu, Bank of Beijing, Bank of Hangzhou, Bank of Nanjing and Tailong Bank, some typical small and medium-sized banks were selected into the TOP30, including three rural financial institutions: Zhejiang Rural Credit Bank, Chongqing Rural Commercial Bank and Fujian Rural Credit Bank. From the ranking of small and medium-sized bank apps, Bank of Ningbo ranks first among city commercial banks, with an overall ranking of 13thZhejiang Rural Credit Co., Ltd.'s Fengshou Internet ranked first among rural financial institutions, with an overall ranking of 16th. From a specific perspective, Bank of Ningbo's monthly active user indicator has increased significantly year-on-year (+45.).51%), and the store's word-of-mouth rating index performed well. Figure 1: The types of institutions selected for the TOP100 mobile banking in 2023Q3
Data**: In addition to the 18 large state-owned banks and joint-stock banks in the country, the top 100 small and medium-sized banks cover a total of 28 provinces, and almost all regions of the country are involved. Compared with the first half of the year, none of the banks in Jilin and Qinghai provinces made the list, while the two city commercial banks in Guizhou Province, Bank of Guizhou and Bank of Guiyang, are both newcomers. From the perspective of the number of banks in each province, the total number of the top three selected banks reached 33, accounting for nearly one-third of the total. Shandong Province and Jiangsu Province ranked first and second, with 10 and 9 companies selected respectively, a decrease of 1 from the previous periodGuangdong Province and Zhejiang Province ranked third. Figure 2: Provinces selected as TOP100 mobile banks in 2023Q3
Data**: Zero One Think Tank(3) The top 5 of the top 100 small and medium-sized financial institutions: Bank of Beijing and WeBank performed outstandinglyCombined with the TOP100 list of mobile banking in the third quarter of 2023, Zero One Think Tank selected the top 5 urban commercial banks, rural financial institutions and private banks for brief evaluation. In terms of various indicators, the highest ranking among small and medium-sized banks is still Bank of Ningbo, with a comprehensive ranking of 13th. Among the city commercial banks, Bank of Beijing rose 18 places in the overall ranking, ranking third among city commercial banks. The first rural financial institution is Zhejiang Rural Credit (Harvest Interconnection), with 6136 points in 16th place. WeBank with 62The overall score of 43 ranked 14th, up 10 places compared with the previous period, surpassing MYbank's residential banks. Table 3: Top digital competitiveness of small and medium-sized banks in Q3 2023
Data**: Zero One Think Tank
Active users: Bank of Ningbo has a high growth rate, and Yunnan Rural Credit has entered the TOP30 for the first timeAccording to Analysys Qianfan data, the scale of active users in the mobile banking market increased steadily in the third quarter, with the number of active mobile banking users of large state-owned banks, joint-stock banks and urban commercial banks in September being 404.29 million, 172.46 million and 42.47 million respectively, with a month-on-month increase of respectively. 5%。The top 10 monthly active users of mobile banking are all composed of national banks, including six large state-owned banks and four joint-stock banks. The average monthly active users of the top 30 banking apps reached 2,376010,000, an increase of 3 over the same period in 202253%, of which the average monthly active users of the top 10 are 6068460,000 people. The top three average monthly active users in 2023Q3 are ICBC 14.3 billion, Agricultural Bank of China 10.8 billion, China Construction Bank 09.5 billion. The average monthly activity of China Merchants Bank and Ping An Bank was 6027560,000 and 3962210,000, even surpassing some large state-owned banks;The average monthly active bank also entered the 10 million level, including Shanghai Pudong Development Bank, China Everbright Bank and China CITIC Bank. There are 3 urban commercial banks and 11 rural financial institutions in the top 30 with average monthly activity. Among them, Zhejiang Rural Credit (Harvest Internet) has the highest monthly activity, reaching 725090,000, a year-on-year increase of 554%；Among the city commercial banks, the highest monthly activity is still Bank of Jiangsu, reaching 579160,000, a year-on-year increase of 1683%。There is only one private bank in the top 30 monthly active banks on the list, namely MYbank, with a monthly active data of 379520,000, a year-on-year increase of 347%。The average monthly active value of the top 30 mid-town commercial banks is 537950,000, and the average monthly activity of rural commercial banks and rural credit cooperatives was 441530 thousand. Therefore, although the number of rural financial institutions is relatively large, the monthly active data is nearly one million lower than that of urban commercial banks, and there is still a big gap on the whole. From the perspective of the range of changes, Bank of Communications, Shanghai Pudong Development Bank and China Everbright Bank, which are among the top 10, have increased significantly, all reaching more than 17%. The highest number of new additions is Yunnan Rural Credit Co., Ltd., with an average monthly activity of 222480,000, a year-on-year increase of 9288%, which is also the first time it has entered the TOP30 list in 2023. Among the city commercial banks, Bank of Ningbo had the highest number of new additions, with an average monthly activity increase of 45% year-on-year51% to 458810 thousand. In addition, Shandong Rural Credit Bank, Minsheng Bank, and Postal Savings Bank fell by a large margin, all reaching more than 20%. Among them, the average monthly activity of Shandong Rural Credit Co., Ltd. was 39 year-on-year09% to 321450,000. Figure 3: Top 30 average monthly active users of mobile banking apps in 2023Q3
(Unit: 10,000 people).
Data**: The continuous small activities of Zero One Think Tank, with rich large-scale activities and series of live broadcasts, may be an important means for users of several large-scale urban commercial banks and joint-stock banks to promote their activities. Taking Bank of Ningbo as an example, its *** shows that the marketing nodes from the third quarter to the present have launched activities, such as shopping festivals, Mid-Autumn Festival, National Day, etc., and correspondingly, on the APP side, several large-scale live broadcasts have gained a good amount. iOS scores: China Merchants Bank, Shanghai Pudong Development Bank, and Bank of Ningbo are among the bestIn terms of user evaluation of mobile banking apps, due to the large number of major Android store platforms and the non-uniform scoring standards, the evaluation comparison is cumbersome, and the more standard Google Store cannot present objective facts due to the domestic use environment, so only the platform data of the national iOS announced by Master Cicada is selected as the user evaluation data**. Judging from the score of the current version of iOS, among the top 30 bank types selected for mobile banking in the third quarter of 2023, there are 15 urban commercial banks, 5 joint-stock banks, 5 rural financial institutions, 3 private banks, and 3 large state-owned banks. Overall, the top three users in the TOP30 all have a score of 49 out of 5.)0 points), respectively China Merchants Bank, Shanghai Pudong Development Bank and Bank of Ningbo, Bank of Communications, Industrial Bank and Bank of Hebei tied for fourth place (48 points). It can be seen that joint-stock banks perform well in the indicator of iOS score. 3 large state-owned banks were selected, and ICBC increased compared with the previous period, with a score of 4 points, and the overall score was high. 15 city commercial banks were selected, and the scores were relatively scattered, of which Bank of Ningbo scored 49 points tied for first place. There are 3 private banks in the TOP30, namely MYbank (4.).2 points), WeBank (39 points), Blue Ocean Bank (38 points), the number of entries has been greatly improved. However, only MYbank surpassed the median of the TOP30 list (4 points), and the other two private banks' apps had a low number of reviews, so there is still room for improvement in terms of user reputation. Among the rural financial institutions, the harvest interconnection is 4A score of 4 is the first place, the top 30 is 9th, and the remaining four are all below the median of the top 30 list (4 points). It can be seen that there is also a certain gap between similar banks in terms of user experience of such small and medium-sized banks, and there is still room for further optimization and improvement. Figure 4: 2023Q3 Mobile Banking App iOS platform current version score TOP30
Note: 1. Due to the same score of many bank apps, the TOP30 list of the current version of iOS covers 36-4.9 points, a total of 31 apps.
2. The common problem is that although some banks are ranked earlier, their ** volume and review volume are not high, and user ratings are for reference only.
Data**: App Store, Zero One Think Tank.
Bank APP case showSince the third quarter, a number of mobile banking apps have ushered in major version updates. According to incomplete statistics from Zero One Think Tank, more than 10 banks have updated xVersion 0, including Bank of Beijing 80. Bank of Communications 80, Everbright Bank 110, Minsheng Bank 80. Postal Savings Bank 90, China Merchants Bank 120 etc. In terms of regional banks, Bank of Qingdao, Bank of Xi'an, Bank of Chengdu, Bank of Jilin, Bank of Inner Mongolia, Huaxing Bank and Bank of Hangzhou have also recently announced the upgrade of their mobile banking apps. Considering the data of ranking changes, version updates, users and word-of-mouth, Zero One Think Tank selected four mobile banks - China Merchants Bank, Bank of Ningbo, Bohai Bank and Bank of Beijing for case analysis, and briefly displayed the big and small version updates, product functions, user performance, scene construction and other highlights of these banks' iOS side. (1) China Merchants BankIn August 2023, the number of China Merchants Bank app users exceeded 200 millionNovember, 12Version 0 was officially launched, with "wealth + technology" as the center, and realized the upgrade of wealth management and trading. Figure 5: The "Wealth Management" interface of China Merchants Bank's mobile banking app
Source**: China Merchants Bank Mobile Banking App 120.1. In terms of wealth management, users will receive a "first purchase letter" when they buy ** for the first time, and the APP will introduce the product features and a series of companion services that users can enjoy in the future in the form of voice and **. In the holding stage, China Merchants Bank has upgraded the "Position Interpretation" function to help users quickly grasp 11 types of key information such as holding costs, income, dividends, number of transactions, and changes in the distribution of underlying assets in the industry. In terms of user interaction, China Merchants Bank 120 also pioneered the same-screen voice connection service, which supports one-click access to voice customer service for consultation and communication by older users, and can give the current mobile phone screen on the same screen to the customer service agent in real time, which is convenient for customer service to quickly locate and assist users in solving problems In terms of payment, the newly launched "one-code scanning" and "exhibition code payment", long press the APP to quickly evoke the payment code, ride code, and medical insurance code, making life scenarios such as consumption and travel, medical treatment and drug purchase more convenient, and further expanding the payment scene ecosystem of China Merchants Bank. (2) Bank of NingboIn the third quarter, Bank of Ningbo upgraded the live broadcast room function, supporting small windows and full screens, which met the needs of users who could also broadcast live when using other apps, thereby increasing the length of users' stay in the live broadcast room. At various marketing nodes such as the Mid-Autumn Festival, National Day, and shopping festivals, Bank of Ningbo has launched activities and maintained the frequency of at least one large-scale live broadcast every month. Several large-scale live broadcasts have received a good amount of ** (up to 18.).10,000 people), providing a traffic base for the steady upward movement of MAU. In August 2023, the Bank of Ningbo app will be connected to the China UnionPay QuickPass online payment platform to provide users with financial convenience services such as UnionPay payment, online remote payment, and bank card management, so as to achieve a more convenient and smooth payment experience. In the app update in September, richer local life services and marketing activities launched simultaneously around UnionPay cloud-network services were launched, further expanding Bank of Ningbo's payment ecosystem. Thanks to the online and offline entry into the life scenarios of customers' high-frequency consumption, the monthly active data of the Bank of Ningbo app has steadily improved, and has exceeded 4.8 million in September, an increase of more than 30% from the beginning of the yearThe average monthly activity in the third quarter increased by 45% year-on-year51% to 458810,000, the highest growth rate among urban commercial banks;The daily active users also stabilized at around 700,000. Figure 6: Bank of Ningbo mobile banking app "Nanjing-Hangzhou Live" and "UnionPay" interfaces
Reference**: Bank of Ningbo Mobile Banking App 73.7(3) Bohai BankSince the third quarter, Bohai Bank's mobile banking app has been updated 9 times, and has now been updated to 62.3rd Edition. This version continues 61 and 60 series style, continue to optimize the product lineage of "Boyin e-payment", "Boyin e-finance" and "Boyin e-loan", as well as the "Bolanhui" point rights and interests platform, to provide customers with convenient and preferential service experience. In October 2023, Bohai Bank announced that its credit card app and old personal mobile banking would be removed from the shelves by the end of the year. Currently, 62.Version 3 of the credit card section has been fully launched, including 13 main functions such as "card management", "credit card application" and "installment details". In terms of APP operation, Bohai Bank has made some subtractions, concentrating more resources, data and traffic into a single mobile banking app, and further revitalizing existing customers with the help of credit card business and original products. In the third quarter of 2023, Bohai Bank's mobile banking monthly active users will be around 980,000, ranking 26th in the overall score. Analysys Qianfan data shows that its average daily usage time per person has steadily increased to 5More than 6 minutes, which is significantly longer than the beginning of the year, indicating that its customer stickiness has improved to a certain extent. Figure 7: The "Credit Card" section of Bohai Bank's mobile banking app and the homepage interface
Profile**: Bohai Bank Mobile Banking App 62.3(4) Bank of BeijingMobile banking is the focus of Bank of Beijing's "Digital Beijing Bank" strategic transformation, and official data shows that its user scale has reached 15.2 million in the third quarter, a year-on-year increase of 1585%；The number of MAU households exceeded 6 million. In September 2023, Bank of Beijing launched the "Jingcai Life" mobile banking app80, with the goal of "creating the ultimate customer experience", we will make efforts to innovate in eight aspects, including wealth companionship, scene ecology, and AI intelligence. 8.Version 0 builds a new "wealth + content" dual middle platform to reshape the end-to-end wealth management user journey. Pre-sale, provide multi-dimensional financial information and product analysis to assist investment decisions;During the sale, we will independently create a private placement area for high-net-worth customers, and complete the dual recording certification without leaving homeAfter-sales, optimize income trial calculation and financial calendar services to help asset review. 8.Version 0 realizes the migration of all high-frequency transactions to the cloud, and the architecture design of containerization, microservices, and distributed fully supports the agile transformation of business, and at the same time deeply applies AI technology to empower product innovation and experience improvement. For example, this time, the digital operation system with "Zhice" as the brain engine has been comprehensively upgraded, and the APP services and content are assembled in a building block through the "Zhice + Resource Management" system, and the exclusive interface can be pushed according to user preferences. Figure 8: The "Wealth Management" interface of the Bank of Beijing mobile banking app
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