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Industrial Bank Releases “Bank-Bank Platform” in Shanghai

The Industrial Bank held a press conference in Shanghai today in which it announced the release of the Bank-Bank Platform, which is the first brand in China based on cooperation between banks. The logo of the Bank-Bank Platform brand launched by the bank is an abstract image of a blooming lotus flower. The logo implies that the Industrial Bank is ready to forge links with the numerous medium and small scale financial institutions in China so as to create value and gain mutual benefit.

It is understood that the Industrial Bank has been highly committed to becoming a specialist provider of banking services for small and medium scale financial institutions since 2004. To this end, it has not ceased in integrating its channels all over the country and opening up areas for the cooperation between banks. Cooperation has developed greatly, from “Guimiantong”, (which allows for trans-bank deposit and withdrawal service) and agent connection to modern payment systems seen at the beginning to the 8 major business areas seen today, which include the export of technology management services, agent selling of wealth management products, optimizing services of capital and assets-debt structure, foreign exchange agency services and comprehensive training. The industrial bank has created an all new model for cooperation between banks and a complete product and service line-up has emerged. In the process, the Industrial Bank has forged sound links with a significant number of small and medium scale financial institutions. The Industrial Bank has signed agreements with over 120 small and medium scale banks throughout major cities all over the country, with almost 50 having already gone live. The basic thinking behind this inter-bank cooperation is the sharing of resources and the innovation of services. The Industrial bank exports core products, services and technologies in the process of cooperating with city commercial banks and rural credit unions that enjoy regional advantages. The result is that the strengths of both sides work to compliment each other, leading to mutual benefit and development. This way, medium and small scale banks are able to exist harmoniously in a way that is beneficial to all. Furthermore, clients are able to enjoy both more convenience with more outlets available as well as top quality integrated financial services.

Inter-bank cooperation has already become an important specialist area of business in the Industrial Bank, and is proving to be a driving force behind the transformation of the bank's business and profit modes. The Industrial Bank established a Banks Cooperation Service Center recently in Shanghai in the aim of further driving on the development of this area of business. The center is charged with the task of developing inter-bank cooperation and providing services. The holding of a press conference to announce the Bank-Bank Platform brand is an attempt by the Industrial Bank to further develop its banks cooperation business and increase its influence and competitiveness by utilizing brand power.

Owing to the Industrial Bank's remarkable performance in the area of inter-bank cooperation, it was not surprising that the brand release conference became a focus of industry attention. Present at the meeting were leaders and specialists from the Financial Research Institute at the Development Research Center of the State Council, the CBRC, the Shanghai Bureau of the CBRC and the Shanghai Financial Services Office as well as senior officials from almost 100 city commercial banks and rural credit unions from around the country.

The Industrial Bank also held a forum on financial cooperation and innovation during the meeting, in which discussions were held in regard to the question of how to promote innovation and cooperation between small and medium scale financial institutions under a new climate. Furthermore, wide consensuses were reached in regard to certain issues, such as the promotion of the sharing of networks, products, and clients between small and medium scale financial institutions in order to achieve mutual benefit and creative development.