Celent Banking Webinar: Direct Banking in China
20 January 2015
Virtual Event, Virtual Event
Join Celent analyst Hua Zhang as he discusses numerous realistic obstacles facing direct banks. This webinar is based on an upcoming report of the same name.
There is a great difference between the Chinese banking market and the Western banking market. For instance, the average income of the people in the West is relatively higher, and interest rate liberalization took place very much earlier. There is a lack of balance in the Chinese banking industry. This can be seen, for example, in the insufficient depth of interest rate liberalization, and the high lack in the level of service received by low-end retail customers and micro and small enterprises. Hence, China needs direct banks even more than Western countries.
Celent estimates that there are more than 30 million potential customers for direct banking in China, and this number will surpass 60 million by 2020. Looking at international direct banks, direct banks were able to take up to 10% of market share of the retail banking industry in 2013; in view of the development of the Chinese internet industry and the shape of the banking industry, the Chinese market will exceed this percentage.
This webinar is free to attend. For more information, contact Marie Aquino at firstname.lastname@example.org.