Impact of the Internet on the Chinese Financial Industry

Celent will help qualify your requirements and introduce you to the vendor
Spotted a missing vendor? Use this form to alert a vendor to the Celent service
Create a vendor selection project & run comparison reports
Register to access this feature
Click to express your interest in this report
Indication of coverage against your requirements
Vendor requires PRO subscription to activate this feature
Requires research subscription, contact Celent for more info
24 February 2014
Hua Zhang


Some banks in China see their greatest competitors not as traditional financial institutions, but modern Internet-based firms such as Tencent and Alibaba. Once deregulation occurs, these firms will race to control the market, resulting in an irreversible and disruptive impact on traditional financial institutions.

Banks’ traditional core businesses are payments, deposits, and loans. As Internet-based firms gain market share, a number of changes will occur. The payments business, which includes mobile and internet payments, will be the first impacted by Internet-based firms. In the report Impact of the Internet on the Chinese Financial Industry, Celent examines the Internet’s impact on Chinese banking, as well as both Internet firms’ strategies and banks’ strategies in adjusting to this changing environment.

“Future banking models in China will include zero-distance banking, smart banking, and universal banking,” says Hua Zhang, Analyst with Celent’s Asian Financial Services Group and author of the report. “Already, Internet-based firms are able to offer a better customer experience and services in some ways than their traditional counterparts.”

This report provides an overview of the Internet’s impact on China’s banking industry, including discussion of the implications for payments, Big Data, and social media strategies for both Internet firms and banks.

Insight details

Content Type
Report Type
Industry Trends
Asia-Pacific, EMEA, LATAM, North America