Digital retail systems developer Dmall has entered a cooperative agreement with one of China’s big state-owned banks.
On 18 November China Construction Bank and Dmall announced the launch of a strategic cooperative partnership at a press conference held in Beijing.
The two parties jointly issued an “online-offline full-channel ecosystem cooperative strategy,” which would seek to “fully employ their respective resource advantages with regards to big data, technology and scenarios,” and create an entirely new business model consisting of “New Finance + New Retail.”
Dmall was established on 1 April 2015, and bills itself as a provider of digital transformation solutions for traditional retailers, involving the integration of bricks-and-mortar stores with digital vending.
As of September 2019 Dmall worked with nearly 10,000 shops while its app had over 75 million registered users, of whom 14 million were active on a monthly basis.