Tagged: bank deposit

After Alipay, JD.com and Baidu also offline Internet deposit products

The reporter has just learned from JD Digital that currently, according to the regulator’s attention to the Internet deposit business, the JD Finance APP has stopped adding new Internet deposit products, stopped new users from purchasing related products, and has conducted a stable and orderly process for existing customers and businesses. Local adjustment: Related products will only be visible to users who have purchased the product, and users who have already purchased the product will not be affected. In the future, JD Finance will pay close attention to relevant regulatory policies and guidance and implement them in earnest.


In addition, Du Xiaoman, a subsidiary of Baidu, said that it will strictly abide by relevant policies, regulations and regulatory requirements, embrace regulation, and adhere to compliance operations. For the Internet deposit business, Du Xiaoman has already removed the Internet deposit products on the platform. After the products are removed, they will only be visible to users who have purchased the products, and users who have purchased Duxiaoman finance

Prior to this, on December 18, Alipay had taken offline processing of bank deposit products on the wealth management page for users who did not hold its Internet deposit products.

Later, a person from the Ant Group stated that in accordance with regulatory requirements for the Internet deposit industry, Ant currently takes the initiative to remove all Internet deposit products on the platform, which are only visible to users who have purchased the product, and users who hold the product will not be affected.

What is internet deposit
It is understood that the bank sells deposit products through a third-party Internet financial platform. The products and services are provided by the bank. The platform provides information display and purchase interfaces for deposit products (the relationship between creditor’s rights and debts is between the depositor and the bank).

In the past two years, many banks have launched deposit products on Internet financial platforms, increased their efforts to attract deposits, and broadened customer acquisition channels. Many consumers have also enjoyed deposit services very conveniently. Such products have high returns and low thresholds, and they have become the main means for some small and medium banks to absorb deposits and ease liquidity pressure.