Although direct selling banks have no business outlets and do not issue physical bank cards, they are also protected by law. Compared with traditional banks, direct selling banks have developed rapidly because of their lower operating costs.

Direct selling bank refers to a "pure internet platform" built by banks without offline outlets, which integrates their own deposit, loan and remittance businesses and invests in wealth management products. Compared with personal online banking, direct selling banks have broken through the restrictions of their own accounts and can be open to users of other banks. More than 60 banks have launched direct banking business.

In this business model, banks have no business outlets and do not issue physical bank cards. Customers mainly obtain banking products and services through remote channels such as computers, e-mails, mobile phones and telephones. Because there is no operating cost and management cost of outlets, direct selling banks can provide customers with more competitive deposit and loan prices and lower handling fees. Reducing operating costs and giving back to customers are the core values of direct selling banks.

Direct selling banks were born in developed countries such as North America and Europe in the late 1990s. Because their business expansion is not based on physical outlets and physical counters, they are characterized by fewer institutions, better personnel and lower costs, so they can provide customers with more convenient and preferential financial services than traditional banks. In the development process of nearly 20 years, direct selling banks have withstood the test of Internet bubble and financial crisis, accumulated mature business models and become an important part of financial markets. The market share of banks in various countries has reached 9%- 10%, and the proportion is still expanding.

Direct selling banks can provide online and offline integrated and interoperable channel services. Online channels are composed of Internet integrated marketing platform, online banking, mobile banking and other electronic service channels. The offline channel adopts a new concept to build a convenience direct store, which is equipped with various self-service devices such as VTM, ATM, CRS and self-service payment terminals, as well as various self-service operation channels such as online banking and telephone banking.

On February 28th, 20 14, Minsheng Bank Direct Bank began to provide Internet customers with money fund products "Ruyibao" and savings products "free of deposit" through websites, mobile apps and WeChat Bank. Bank of Beijing has established a number of direct outlets in Beijing, Xi 'an and Jinan, and launched a number of simple, convenient and preferential exclusive financial products.