OREANDA-NEWS. December 24, 2013. Industrial Bank (IB) held a product launch in Shanghai, at which the bank announced the brand-new upgrading of the wealth management portal of bank-bank platform and released its internet wealth management brand – “Money Manager”, mobilizing its efforts in the business of wealth management and making arrangements in internet finance.

The action attracted extensive attention from the industry, and executives from 52 institutions around China, including 19 provincial rural credit cooperative unions , 23 regional commercial banks, and companies in the areas of securities, trust and insurance, attended the launch.

As learnt by the reporter, at this time, the massive cooperation network built by IB relying on the bank-bank platform introduced the innovative gene of mobile internet, aiming to build a more efficient and convenient wealth management platform characterized by mutual benefits and win-win results by way of consolidating offline and online resources. Online, the bank fully upgraded the original wealth management portal website to streamline process and simplify operation, and applied a special domain name “www.yypt.com”. Meanwhile, it developed the online smart phone client, enabling customers to manage their wealth anytime and anywhere conveniently. Offline, the portal is networked with more than 100 commercial banks. Customers may also handle various wealth management businesses of bank-bank platform at the counters of such banks.

“We name the wealth management platform ‘Money Manager', hoping that it, as a wealth management brand with greater affinity, can attract more young groups against the tide of internet finance.” The director of the Banking Cooperation Services Center of IB revealed that the bank was preparing to release a wealth management and payment product suitable for young people.

Along the furthering progress of urbanization, as indicated by IB, the cities of the third and fourth tiers and rural areas contain a wealth management market of massive potential. The bank hopes to construct a wealth management platform integrating product supply, assets management, and marketing for financial institutions based on the wealth management portal of bank-bank platform, combine the advantageous products of IB and advantageous channels of small- and medium-sized financial institutions together, practice inclusive finance, and convey rich and excellent wealth management products to cities of the third and fourth tiers and rural areas, so as to increase the property incomes of residents in these areas. Meanwhile, the bank may help cooperative urban commercial banks and rural financial institutions to enrich their service product families, construct their wealth management business systems, improve their capabilities and levels of services to the “Agriculture, Rural Area and Farmers”, and enhance their profit structure.

It is said that, in 2007, IB took the lead to launch the bank-bank cooperation brand of “bank-bank platform” in China. Following the cooperation spirit of “sharing resources and achieving win-win results on a common platform constructed jointly”, the bank has pushed ahead various bank-bank cooperation businesses, including payment and settlement, wealth management, information technology, asset-liability management, capital utilization, agency of international settlement, and training and exchange, in an all-round way, devoting itself to becoming a professional banking service supplier for small- and medium-sized financial institutions.

Up to now, the bank-bank platform of IB has 446 banks signing for cooperation and 372 banks accessible online, of which 187 ones networked by counter pass, and connects more than 25,600 outlets, with 218 ones signed for cooperation of technology output. It has become one of the largest payment and settlement networks and the largest suppliers of information system for commercial banks in China.