Impact of the Internet on the Chinese Financial Industry

Create a vendor selection project & run comparison reports
Click to express your interest in this report
Indication of coverage against your requirements
A subscription is required to activate this feature. Contact us for more info.
Celent have reviewed this profile and believe it to be accurate.
24 February 2014
Hua Zhang

Abstract

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.

Subscription required

Access to this content requires a Celent research subscription.

Subscribers should sign in to access this research.

Insight details

Content Type
Reports
Focus
Industry Trends
Location
Asia-Pacific, EMEA, LATAM, North America