This topic describes customer use cases for the Mobile Platform as a Service (mPaaS) in the finance industry.
Shenzhen Rural Commercial Bank
mPaaS and Shenzhen Rural Commercial Bank: Empowering the traditional finance industry with scenario-based digital marketing strategies.
Customer profile
As the only local legal entity bank in Shenzhen, Shenzhen Rural Commercial Bank actively embraces financial technology and accelerates its digital transformation. In "The Top 1000 World Banks" list published by The Banker magazine in 2019, Shenzhen Rural Commercial Bank ranked 300th globally and 3rd among banks in the Chinese mainland for return on capital.
The mobile banking application of Shenzhen Rural Commercial Bank is dedicated to creating an intelligent, scenario-based financial service platform for customers. This platform provides a smoother, more secure, and more reliable financial service experience.
Project requirements
After launching the new version of its app developed with mPaaS, Shenzhen Rural Commercial Bank significantly improved its mobile banking performance. For the second phase, the bank wanted to increase user popularity through scenario-based marketing.
The challenge was to increase app popularity and user stickiness. Mobile applications in the traditional finance industry are often positioned as utility products with limited scenarios and low daily active users.
How can you access secure and mature marketing scenarios? If you lack both internet marketing experience and products, how can you access these scenarios while ensuring user fund security and a good user experience?
How can you reduce access costs for multiple scenarios? You can quickly gain one-stop access to common scenarios, such as local lifestyle services, without having to integrate with multiple providers.
Solution
Shenzhen Rural Commercial Bank chose to integrate the "Haoxiangpin" miniapp into its mobile banking client using the mPaaS developer frame. The goal was to increase user popularity and transaction volume in the mobile banking app. This would, in turn, promote card binding for payments and boost card activity through higher app engagement.
The solution involved deploying a scenario-based local lifestyle miniapp, which provides one-stop access to scenario-based resources from the Alibaba ecosystem for joint marketing. It uses scenarios to drive card activity and services to boost user engagement, supporting the core financial business. The initial phase integrated the "Haoxiangpin" miniapp, with plans to gradually add other Alibaba local lifestyle scenarios, such as Hema.
The solution enabled user behavior analysis and precision marketing. Using the mobile analysis component and instrumentation in the app and miniapp, the bank can analyze user behavior to identify target customers. The bank then uses the Mobile Push service to reach these users, which enables precision marketing and optimizes the return on investment.
Customer value
Within one week of launch, the average daily page views (PV) of the miniapp's entry point increased 20-fold. The conversion rate from browsing to transaction was approximately 10%. The scenario-based marketing proved effective in boosting app activity.
Increased user popularity: The bank increased user popularity by introducing the Alibaba Haoxiangpin scenario. It was featured in a banner ad on the app's home page and promoted through various activities, which increased the monthly active users of the mobile banking app.
Boosted card activity: By designating the bank's card as the sole payment channel, the bank reactivated a group of infrequent card users and increased bank card payment activity.
Increased deposit assets: The in-app consumption scenarios encouraged users to bind their cards for spending, which in turn increased the deposits in their card accounts.
Tianjin Trust
mPaaS and Tianjin Trust: Building a wealth management app system from the ground up and rapidly moving financial services online.
Customer profile
Tianjin Trust Co., Ltd. was founded by the Tianjin branch of the People's Bank of China and is one of the earliest trust and investment institutions established in the Chinese mainland. The company offers a series of trust products focused on industrial development in areas such as infrastructure, energy and transportation, corporate groups, small and micro enterprises, modern logistics, real estate, education, and high-tech industries.
Project background
To support the future development of its wealth management business—making it remote, online, and professional—Tianjin Trust needed to build a wealth management app system from scratch. The goal was to provide more efficient, convenient, and secure online services, improve customer satisfaction and brand loyalty, and enhance its capabilities in mobile technology development and operational management.
Solution
mPaaS: mPaaS redefines the mobile development platform. It uses a client developer frame to standardize development, improve app performance and stability, and accelerate R&D efficiency. It also adds dynamic control over the app and enables personalized digital operations. Based on mPaaS, Tianjin Trust quickly adopted mobile technology, migrated more business systems to mobile devices, and created its unique business model.
Real-Time Communication: This service provides bidirectional real-time video calls and audio/video recording. It delivers stable, low-latency audio and video communication for dual-recording scenarios involving live agents, such as video customer service, fund transfers, and electronic contract signing. The service encrypts the audio/video streams, signaling, transmission, and storage to ensure the security of the service process and the recorded files.
Intelligent dual recording: For scenarios where trust products are sold to end users, this solution uses intelligent tools such as biometric recognition and ID Verification. It supports remote account opening, remote transactions, and online customer service. It also enables services such as self-service printing of online asset certificates and efficient investment asset assessment. By setting rules for how wealth managers handle video dual-recording calls and tracking appointments, account managers can easily contact customers and remind them to complete the electronic contract signing and dual-recording process. After the dual-recording process, the audio and video files are encrypted, uploaded, and stored. The system also supports video review, query, and download functions to meet industry regulatory requirements.
Jiangsu Minfeng Rural Commercial Bank
mPaaS and Jiangsu Minfeng Rural Commercial Bank: Enabling digital transformation for a county-level bank with a 12-person tech team.
Customer profile
Headquartered in Suqian, Jiangsu Province, Minfeng Rural Commercial Bank was formerly a local rural credit cooperative. With total assets of over CNY 40 billion, the bank relies on a small developer team of only 12 people. Using digital technologies on a cloud platform with a monthly investment of only about CNY 10,000, the bank rapidly digitized its business and moved its services online. This has significantly contributed to the stable and rapid growth of its business.
Project requirements
Many small and medium-sized local banks, such as Minfeng Rural Commercial Bank, had scattered and highly manual operational models. Their customer acquisition relied mainly on field visits and in-person promotions at branches. However, since the outbreak of COVID-19, the demand for "contactless" financial services and digital operations has grown exponentially. This made it urgent for small local banks to enhance their digital capabilities.
Most small and medium-sized banks recognized the need for change and digital transformation. However, facing constraints such as limited capital investment, talent, and technology, their path to transformation was unclear.
Solution
Minfeng Rural Commercial Bank began its transformation by restructuring its job functions and processes, proposing a "three platforms, six roles" model.
Within the traditional "large three platforms" framework for credit processes, the bank created "small three platforms". This designated marketing and investigation as the "small front-end", approval and signing as the "small mid-end", and account management and collections as the "small back-end". The six roles have distinct responsibilities, collaborate efficiently, and provide checks and balances. This system implements a specialized, streamlined, and standardized workflow, ensuring that tasks are handled by dedicated professionals.
With the support of the mPaaS product and technical team, Minfeng Rural Commercial Bank was able to completely rebuild its app at the end of 2018. This resulted in a smoother on-device experience and an extremely low crash rate. The following year, the bank used popular miniapps to build an ecosystem. This ecosystem included features ranging from payment codes and QR code payment functions to new scenarios such as utility bill payments, Taopiaopiao, and Tmall Choice. This allowed the bank to operate the ecosystem independently and successfully acquire and engage customers for its mobile app.
Customer value
The mobile app began to handle more business operations. Using the "Susu e" mobile app loan service platform, Minfeng Rural Commercial Bank launched several online credit loan products, such as "Nong e Loan", "Rong e Loan", "Shang e Loan", and "Kuai e Loan". The bank projects that approximately 40% of its loan business will be handled on the mobile app this year, with this proportion expected to grow in the future.