At 8 pm on December 3, 2021, the "12.3 Wealth Night and China Merchants Bank App 10.0 Release Super Live Broadcast Ceremony" arrived as scheduled. This is the first large-scale online live broadcast since China Merchants Bank proposed to build a "big wealth management value circulation chain". It is also the first official appearance of China Merchants Bank's first global brand spokesperson Su Zai after the official announcement.
"Breaking 10" has special significance to China Merchants Bank and Suzhou. For Su, he ran another 10 seconds at the Tokyo Olympics this year and became "the pride of the Chinese" with a time of 9.83 seconds. This was also the 10th time in his sports career that he broke 10 seconds.
For China Merchants Bank, which is accelerating on the road of "big financial management", "breaking 10" is also of great significance. In July 2021, China Merchants Bank's retail AUM scale exceeded the 10 trillion mark for the first time. After ten years of development and iteration, the CMB App, which carries the digitization, platformization and ecological trust of CMB’s comprehensive wealth management, has reached the important time point of 10.0.
As mentioned on the night of the live broadcast, the China Merchants Bank App has returned to its original intention of "creating value for customers" and focused on the "smart wealth ecosystem". Under the tide of wealth management, it once again uses the "10" power of wealth to define the direction of the trend.
Open wealth management platform
From a customer's perspective, financial management needs are actually very simple, nothing more than "making money, simplicity, peace of mind, and convenience." However, this seemingly simple demand has a natural contradiction with the variability of the capital market, as well as the complexity and volatility of financial products, and this is precisely the pain point faced by large wealth management.
Since 2021, the popularity of Chaochaobao has greatly encouraged China Merchants Bank. Therefore, simplifying the complex and introducing simple and easy-to-understand financial services has become the first move for China Merchants Bank to break through.
It is reported that version 10.0 has launched the "Duobao Family" financial services including Yu Yuebao, Jiji Bao and Banbian Bao, allowing customers to know the investment period and how to arrange funds as soon as they hear the name. At the bottom of the "Duobao Family", multiple banks' wealth management products are aggregated. China Merchants Bank's App will automatically combine and optimize the allocation of wealth management products based on the investment strategies and returns of customers who purchase wealth management products that day.
So how to ensure "optimal configuration"? "Openness" is the key.
Since 2020, China Merchants Bank has successively introduced 8 financial management subsidiaries of other banks, which is currently the platform with the largest number of financial management subsidiaries of other banks. The rich product pool provides more possibilities for CMB to select the best from the best. At the same time, these high-quality products also form a more positive interaction between customers and China Merchants Bank. At present, the scale of wealth management products sold by CMB to other banks has exceeded 600 billion yuan.
The more open you are, the more energetic you are. This is true at the product level and also at the business level.
In May 2021, China Merchants Bank significantly upgraded the "Lucky Hao" wealth open platform, inviting high-quality asset management institutions from all over the market to settle in the China Merchants Bank App to directly contact and serve customers.
As of the end of September 2021, 74 leading institutions have settled in "Lucky", with a total number of fans exceeding 11 million. Through "Lucky Account", CMB has opened more than 80 capability interfaces to partner institutions, supported institutions to publish more than 5,000 pieces of content and activities, and provided over 100 million services to nearly 4 million customers in the third quarter. The click-through rate of the bonus content of "Lucky Number" reached 10%. The data also shows that among the "Lucky Number" fans, customers with gold cards and above account for nearly 40%, and customers with positions account for nearly 90%. The funds accompanying customers are more stable.
“Data openness is one of Lucky Number’s basic capabilities. We will share data information with our partner organizations to continuously optimize the service experience, but there is a major premise, which must be carried out within the framework of information security. , the data must be strictly desensitized," the person in charge said. In other words, the data shared by China Merchants Bank to partner institute
With the blessing of "lucky numbers", the fund bonus content of CMB App has become more abundant, and version 10.0 has also reshaped the "fund" of the App Channel". Add the "Market" module to help customers view the industry, income and performance with richer data; promote the productization of services, focusing on building modules such as "Five-Star Selection", "Index Pass", and "First Release Zone" to allow customers to directly view the industry on the App Use more dimensional services; on the fund details page, customers can see both the "China Merchants Bank Interpretation" and the institutional interpretation of "Lucky Numbers".
In addition to graphic content, there is also product information when watching live broadcasts or videos, further lowering the threshold for customers to invest independently; we have also successively opened "Fund Forums" to accompany customers' wealth growth with more interactive platforms and content.
In addition, version 10.0 also launched a new version for Mac, realizing the full openness of Apple’s iOS ecosystem.
Evolved Intelligent Service Platform
As of the end of the third quarter of 2021, the total number of retail customers of China Merchants Bank has reached 169 million (including debit card and credit card customers). How to make wealth management "fly into the homes of ordinary people" through "digitalization of people" is the second problem to be solved in version 10.0.
This time, the assignment given by China Merchants Bank is "AI Trick", an intelligent financial assistant that has been tempered by both "human brain" and "technological brain".
To put it simply, AI Xiaozhao is an intelligent wealth advisor built by China Merchants Bank based on speech and intent recognition, financial knowledge graph, intelligent interaction, deep learning and other technologies. It has liquidity prediction, risk preference analysis, investment Multiple engines such as decision-making and intelligent recommendation
Different from the previous App browsing mode, AI Xiaozhao has powerful multi-round dialogue interaction capabilities. For example, if a customer wants to check this week's income, AI Trick will first show him the amount of income, and automatically bring out the products held by the customer that have the greatest impact on this week's income. Take stock funds as an example. When a customer clicks on a specific fund, the rise and fall of the stocks that have the greatest impact on the fund are displayed. Not only that, AI tips can also prompt customers to inquire about recent market conditions, hot sectors and the opinions of relevant institutions, allowing customers to further deepen their understanding of the market and products in content-rich positions. Based on rich data, AI Xiaozhao can even recommend more suitable products to customers and give suggestions for warehouse adjustments.
Based on the customer’s browsing and behavior data list in the App, AI Xiaozhao presets ten topic links such as cash flow management, lucky points, and four money management, and through knowledge accumulation and machine training
Develop certain open conversation skills so that they understand customers and products, and have the ability to match customers with products.
On the other hand, due to its relatively powerful knowledge graph, compared to account managers, AI tips have a more comprehensive grasp and understanding of product data in all dimensions, and through the large number of customers generated from massive interactions every day Feedback data, AI tricks can more quickly improve algorithms, optimize speaking skills, and feed back to account managers.
This has created a close connection between the human brain and the technological brain, and this two-way interaction and complementarity will eventually become the driving force for CMB’s wealth management to move forward.
In addition, unlike general mutual financial platforms, when AI tips cannot meet customers’ complex needs, it has the ability to quickly switch to manual services. Version 10.0 has integrated relevant internal channels of China Merchants Bank, and can quickly and completely push the records of AI tips and customer interactions to account managers, achieving a seamless connection in the financial service process. "Of course, AI tips are still in their infancy at this stage, and they will continue to be explored and optimized in the future," said the person in charge.
One-stop wealth life platform for all customer groups
Dividing customer groups into different levels of customer groups based on their assets is a common practice in the banking industry, but this purely business perspective The hierarchical approach below easily ignores the dynamic growth of customers and their differentiated service demands at different stages of life.
Therefore, in the process of exploring large wealth management, China Merchants Bank App 10.0 consciously expanded from single asset stratification to customer group classification, building a customer group for college students, elderly customers and high-net-worth customers. A classified service system for all customer groups, including all customer groups.
It is particularly worth mentioning that in response to the personalized needs of high-net-worth customers, the China Merchants Bank App has also newly upgraded the "Exclusive Edition": First, it focuses on the full product strategy and upgraded the "Private Banking and Private Equity Zone" , iterative optimization from multiple dimensions such as product information disclosure and interpretation, dual registration, companionship, smart purchase, global connection, etc. It is understood that in 2021, the number and amount of private equity financial management online transactions on the China Merchants Bank App accounted for 81% and 83% respectively, an increase of 11 and 6.8 percentage points respectively from the previous year.
The second is to open up retail and corporate financial service scenarios.
Business owners account for a large proportion of high-net-worth customers. The "Exclusive Edition" and China Merchants Bank Enterprise App have realized interoperability and jump. Customers use the "Exclusive Edition" as the entrance to quickly handle business account opening, small and micro business loans, and small and micro services. plans, corporate finance and other services.
The third is to highlight the entrance to charity services. Since the beginning of this year, the charity-related needs of private banking customers have increased significantly. The "Exclusive Edition" will provide customers with a convenient entrance to help them quickly access China Merchants Bank's private banking charity services.
In addition, version 10.0 also launched the "Financing Physical Examination" module, which comprehensively evaluates the customer's debt structure, capital reserves, and borrowing costs, helping customers analyze their debt situation more comprehensively and rationally, and within the scope of reasonable financing. , recommending suitable products and loan management suggestions to customers.
“Financial management on one hand, lending on the other”, so far, the prototype of China Merchants Bank App’s one-stop investment and financing platform has initially emerged.
“Digitalization, platformization, and ecology”, after 10 major versions, the evolutionary direction of China Merchants Bank App is determined and clear. In successive iterations, the outline of big wealth management of “big customer groups, big platforms, and big ecology” has become increasingly clear.
“From the perspective of customers, wealth and life are integrated. What we want to do is to keep evolving so that the financial infrastructure of China Merchants Bank App can be continuously upgraded to continuously meet their needs, just like sunshine, Air and water have become part of their lives," said the person in charge.
Carrying the yearning of hundreds of millions of customers for a better life and shouldering the mission of 3.0 transformation, China Merchants Bank App leaps forward like a nimble Darwin bird and flies into the next decade. Related questions and answers: