Best private bank for innovation in technology 2018
China Construction Bank Private Banking
In recent years, China Construction Bank has made a consistent effort to deploy digitization and data analysis in private banking and wealth management to upgrade internal management processes and attract customers, which partly explains how the bank’s private banking division achieved such robust business growth last year.
In 2017, CCB installed an integrated online data management platform to enable its wealth managers to collect, share and analyze customer data and to allow its headquarters and branches to coordinate activities and track business performances.
The system also allows wealth managers to engage and interact with customers via mobile phones, computers and China’s messenger app WeChat.
The system has proved to useful for customer profiling and marketing. CCB did a remarkable job in winning new customers in 2017 by analyzing data collected through 41 scenarios created online to mimic real-life business activities.
CCB has also developed a plan to further digitize its private banking and wealth management operations by 2020.