What does direct banking mean?

Direct selling bank refers to a banking model that provides financial services directly to customers through digital channels such as the Internet without relying on branches of physical banks. This model greatly reduces the cost of manpower, venue and equipment, and also improves the efficiency of financial services. Therefore, more and more banks begin to adopt the mode of direct banking to cater to the fast-paced modern life and the digital trend of the times.

In direct banking, customers usually need to register and create an account on the website first, and then operate through online banking or mobile banking. This model provides more convenient and free financial services, such as online account opening, transfer and remittance, and purchase of wealth management products. In addition, because there is no physical counter, the service hours of direct banking are more flexible, and financial services can be enjoyed during the day, at night and even at weekends.

Compared with traditional banks, the interest rates and handling fees of direct selling banks are often more favorable, and even many products are launched with zero threshold and low threshold. Direct banking services are also more personalized, which can provide customers with products and solutions that better meet their own needs. In addition, the promotion channels of direct banking are diversified, such as strengthening publicity through social media, search engines, websites and other channels to attract more customers.