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BEA launches WeChat platform
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FOREIGN banks in China have stepped up developing banking on social media as the Bank of East Asia became the latest to have a WeChat outlet.
BEA's WeChat platform offers basic bank account functions as well as cross-border yuan transfer for Hong Kong and Macau residents, the bank's officials said in a briefing today.
Users can also buy wealth management and money market funds on the WeChat, said Robert Peng, general manager of BEA transaction banking department.
The bank today also launched its mobile banking application to facilitate transactions of clients.
BEA is the latest example of foreign banks joining local rivals in embracing mobile technologies to extend services.
Other foreign banks such as Standard Chartered and Citi have also developed mobile applications and WeChat accounts.
Standard Chartered Bank today also said it is upgrading its system for WeChat to add banking functions such as balance check and money transfer to the bank's account.
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