Digital disruption is rapidly changing the competitive and operating landscape and driving institutions and regulators to adopt opening banking strategies and create API enabled IT architectures.

China Merchant Bank (CMB), Industrial and Commercial Bank of China (ICBC) and other major Chinese commercial banks have stopped robo-advisory services in response to increased regulatory scrutiny.

China’s bank-backed fintechs, such as CCB Fintech and OneConnect, grapple with profitability, fierce competition from tech giants and evolving regulatory landscapes.