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ICBC Teams Up With JD.com to Offer Digital Banking Services

The Beijing-based Industrial & Commercial Bank of China is teaming up with the finance unit of the internet retailer, as banks become less reliant on physical branches to expand their business.
JD.com packages.
JD.com packages. (Shutterstock)
By
  • Bloomberg

BEIJING, China — Industrial & Commercial Bank of China Ltd. said it's teaming up with the finance unit of internet retailer JD.com Inc. to offer digital banking services.

Customers will be able to request credit services such as proof-of-deposit slips through the online platform, the Beijing-based bank said in a statement Monday. The logistics unit of JD.com will deliver the documents to the customer’s home.

ICBC’s cooperation with JD.com, the operator of China’s second-biggest online mall, is the latest example of a bank collaborating with a technology firm in areas beyond e-commerce. Banks have become less reliant on physical branches to expand their business as online services continue to gain popularity.

By Alfred Liu, with assistance from Heng Xie; editors: Marcus Wright, Russell Ward and Edwin Chan.

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