Banks in China are joining forces to ease the pressure on their outlets.
The Industrial and Commercial Bank of China and Standard Chartered Bank
both announced on Wednesday that more electronic banking solutions will
help customers to do their banking transactions from home or at their
work place over the internet.
The Industrial and Commercial Bank of China has updated its e-banking
system. New services include on-line sales of certificate bonds, on-line
transfers and remittances, and card payments. Now, customers no longer
have to wait in queues at the bank’s outlets to buy certificate bonds;
they can make their purchases via e-banking. Meanwhile, Peony
International Card users can also use the Internet Banking system to
carry out transfers and make remittances abroad. And drivers with the
new Peony Express Card can pay their fines at ATMs. Mobile banking users
can make transfers, remittances and bill payments by sending
instructions through their mobiles.
“We aim to encourage customers to get into the habit of using
self-service machines. They no longer have to stand in queues to do most
of their day to day banking business now. At the same time, we are
offering preferential policies …customers buying funds online can
enjoy a 20 percent discount on their fees, says ICBC customer services
Standard Chartered Bank is also establishing an e-banking platform, but
it will be serving corporate users. Medium and small sized enterprises
can make cash transactions or other financing business on the Internet.
Meanwhile, Standard Chartered is planning to set up the largest bank
data processing center by a foreign bank in Tianjin City. The center
will provide support for the fast developing Chinese customers’ demand
for global businesses.