Date
16 October 2018

Guangfa Bank, China Mobile team up in banking first, paper says

China Guangfa Bank (CGB) said Tuesday it is partnering China Mobile Ltd.’s (00941.HK) Guangdong branch to become the first lender in the country to offer free mobile banking services to its customers, the Securities Times reported Wednesday. Under the deal, CGB will pay for all the mobile data charges incurred by its customers accessing its mobile banking services via the China Mobile network. The bank estimates that each customer will save on the cost of up to 18 MB of mobile data per year, translating into combined savings of up to 1 million yuan (US$164,311) per year for all of its mobile banking customers in Guangdong. The bank has more than 8.35 million online banking customers, a total growing at more than 63 percent a year. It also has more than 2.1 million mobile banking customers, with that number rising at 250 percent annually, the report said, citing CGB chief technology officer Wang Bing as saying.

 

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