OREANDA-NEWS. May 08, 2014. Industrial Bank (IB) Direct Bank launched has attracted great attention in the market with the great convenience that it supports one-key purchase more than 30 wealth management products and over 400 funds with cards of many banks free of registration and logon. The wealth management products sold on the launch day exceeded RMB 50 million.

On April 10, following the momentum brought by the launch of direct bank, IB announced to release a new internet-based wealth management product – “Industrial Treasure” (Xing Ye Bao), which is a T+0 direct-sale monetary fund product, in collaboration with famous fund companies at home. This product is a new force in the balance treasure product family in the banking system.

According to the relevant person-in-charge of the Electronic Banking Department of IB, the T+0 direct-sale monetary fund product, “Industrial Treasure”, that the Bank launched this time is a serial product. In the first phase, the partner is Dacheng Cash Profit Increase Monetary Fund – the most competitive monetary fund product under Dacheng Fund. In the second phase, Industrial Fund Management Co., Ltd. is locked as the partner. In the future, IB will provide more diversified product options to customer in collaboration with a greater number of famous fund companies.

With the formal launch of “Industrial Treasure”, the wealth management product for balance, the service coverage of IB Direct Bank has been extended to four product families: “Industrial Treasure”, wealth management, fund, and fixed deposit.

As a leading product of IB Direct Bank, “Industrial Treasure” brings into play the “convenient” feature of IB Direct Bank to the greatest extent.

After experiencing the product, the reporter discovered that, with any bank card of banks including ICBC, CCB, ABC, CMB, CMBC, China CITIC Bank, CEB and Ping An Bank, one only needs 3 minutes to finish the whole process to open an account of “Industrial Treasure”, transfer funds and purchase funds in one stop by clicking to choose the channel of “Industrial Treasure” at the homepage of IB Direct Bank, entering personal information, short message verification code, bank card information and amount to buy as indicated on the page.

If a user is a customer of IB, it is more convenient and easier to use a wealth management card of IB, with the above links of entering designated personal information and short message verification code being skipped. One only needs to enter the wealth management card number, identity card number, withdrawal password and amount to buy, thus shortening the time to open an account and purchase funds to less than 1 minute.

Besides the outstanding convenience, other features of “Industrial Treasure” also win great favor of customers, such as “minimum purchase of RMB 0.01”, “deposit and withdrawal available at any time”, “secured transaction”, and “high yield”. As a member of the balance treasure product family in the banking system, money withdrawn from “Industrial Treasure” will be deposited into the IB e-card or other bank cards under the name of a customer. The advantage in ensuring security of funds speaks for itself. In terms of yield, Dacheng Cash Profit Increase Monetary Fund, which is linked to “Industrial Treasure” in the first phase, ranked front among all monetary funds in the last three months. To calculate according to its real yield in 2013, the return on RMB 100,000 can reach RMB 3,942, 11 times as much as RMB 350, the interest of current deposit.

The fast launch of “Industrial Treasure” after the release of “Money Manager”, the internet wealth management brand, and direct bank, highlights the determination of IB in accelerating innovation in internet finance and putting innovation into practice. The Bank indicates that it will, following the trend of “market-oriented, disintermediated, networked, and customized” finance, speed up innovation in integration of internet and finance, explore for building the mechanism and system accustomed to the development of internet finance, further extend the market of internet finance, and grasp the first-mover opportunities in the market.