Industrial and Commercial Bank of China (ICBC)
has attracted 100 million personal internet banking customers in a
decade and now has an online banking clientele that spans 102
million.
ICBC said that over 60% of its banking
transactions were conducted via the online platform – more than the
total number of transactions conducted in-branch.
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This rate, the bank
said, proved the”huge market potential” for electronic
banking in China.
Its online banking customer base grew from
200,000 in 2000 to 102 million by the end of March 2011.
Out of the over 100 million customers using
the ICBC Personal Internet Banking platform, more than half are
private banking and affluent customers.
Over 100,000 online banking customers use
ICBC’s service from outside out China in 17 countries and
regions.
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By GlobalDataThe bank said that in order to meet customer
needs and requirements, it “launches nearly a hundred new
electronic banking products leveraging its advanced IT system and
strong research and development capabilities” each year.
So far, the bank has 1,085 products available
for its whole electronic banking service, a number that translates
as 45.9% of the bank’s total product range.
The cost to serve via the electronic channel
is so little compared with the over-the-counter service that ICBC
made a cost saving of RMB26bn ($4bn) in 2010, helping to
curb operating costs and spur annual income.
Looking ahead, ICBC is going to advance
its product and service innovation in electronic banking, the bank
said.
