China Minsheng Bank Opens Flagship Fintech Branch in Beijing


One of China’s leading commercial banks has opened a “flagship fintech branch” in the Beijing tech sector hub of Zhongguancun.

The Zhongguancun branch of China Minsheng Bank is one of three “fintech flagship branches” launched by the commercial lender with the goal of “further utilising the role of fintech to support the development of the real economy.”

In a speech delivered at ab opening ceremony held on 27 June, Minsheng Bank head Zheng Wanchun (郑万春) said the branch would “strive to provide online, convenient, secure and comprehensive innovative financial services to tech enterprises in general.”

The branch will serve to exemplify the concept of “smart banking” with the “Dianshi Chengjin” (点识成金) system, which makes use of facial recognition technology to identify customers and large-screen monitors to display customised welcomes.

The system will also include the launch of “smart investment consulting,” and “real-time precision calculations” to recommend wealth management products that suit specific clients.

The bank’s Internet Experience Service Area integrate both online and offline services for customers, who will be able to utilise them via “somatosensory interaction.”

The Zhongguancun branch will also come equipped with various forms of smart devices, including “comprehensive smart teller machines,” as well as virtual reality devices that will be used to simulate overseas travel for study, business or vacationing purposes.