While Chinese banks have experimented with creative concepts like a branch run by robots, the clear push has been toward online banking. The acceleration of online banking has resulted in an increase in bandwidth available to handle the growing demand.
Additionally, new services are now available online that may have previously required a branch visit; these include “contactless loans” for millions of Chinese small businesses with competitive interest rates.
Most banks also now offer broader mobile banking capabilities, from payments and wealth management to transfers and deposits. Some are also enabling additional security measures for customers, such as creating daily online spending caps through popular payment services like Alipay and Tenpay.