ICBC has recently optimized its exclusive settlement product for small and medium-sized enterprises (SMEs) – ICBC Cash Management Card ("ICMC") by breaking the conventional corporate banking service model, and providing customized services throughout corporate account management, payment & settlement, investment/wealth management and consulting.

SMEs feature frequent business activities and rapid funds recovery,,but face difficulty in exercising refined management over sundry accounts due to restrictions such as small scale and limited number of employees. Therefore, by upgrading and optimizing the ICMC, the Bank can aggregate accounts under one card, and realize a number of functions including identify authentication, account management, payment & settlement, investment/wealth management and information reporting, which addresses "big problems" with a "small card".

According to an ICBC official, the ICMC can provide 7×24 nonstop services via all channels, in response to the need of SMEs for efficient settlement. For example, Mr. Zhang is an accountant of a trade company, who has to transact with the Bank every day due to high frequency of goods turnover, purchases of raw materials and product sales in the wholesale industry. In the past, he had to conduct corporate banking transactions at bank counters, which was not available on holidays or festivals. After using the ICMC, Mr. Zhang can access corporate banking service as easily as he does in personal banking service, and complete payment & settlement, deposit or withdraw cash, query account information and print receipts/statements via bank counters, online banking or self-service facilities, without business hour restriction of outlets, which has notably improved his work efficiency.

To meet the demand of enterprises for optimized account management, the Bank added the functions of "multiple accounts under one card" and "multiple cards under one account" to the ICMC, assisting SMEs with efficient and convenient account management. "Multiple accounts under one card" means each ICMC can have several accounts opened under it, including current accounts, term accounts and wealth management accounts. By holding one ICMC, a customer can manage all the accounts under it, and realize centralized allocation and management of funds in such accounts, as well as transfers among them, payment and settlement. "Multiple cards under one account" means one settlement account can have a number of ICMCs for the purpose of query, depositing or settlement by different users. It is applicable to chain operations or businesses with many branches but assessing collections separately. A chain catering enterprise has over 10 stores in a city, with each store having its own settlement account opened with different outlets of the Bank. With the expansion of business, it is in urgent need of centralized management of the same bank account, which has constantly worried the chief accountant of the enterprise. After learning this situation, the Bank staff designed the "multiple cards under one account" plan tailored to address its need, helping it achieve ideal account management effects.

As for the financial risk control requirement of SMEs, ICBC has launched the "ICBC Cash Management Chip Card" with higher security levels, wider application scope and stronger functions; the account and business scope, usage channel and authority of each card can be set by cardholder. Users can set the payment and inquiry authorities of cardholders over accounts through the Bank's online banking portal, so that cardholders can use the cards within the scope of authority, which solves the difficulty of financial personnel in leveled authorization and financial management, and meets the security requirements of enterprises for financial management. A private enterprise owner Mr. Li said, "The hierarchical authorization function of ICMC is very helpful. We have two financial managers and three clerks, each holding an ICMC set with different authorities, so they can only perform operations within their scope of authority. This really brings convenience to our work, eliminates relevant risks, practically boosts work efficiency and standardizes internal management."

In terms of special services, ICBC has simplified the process for opening the ICMC, and designed three card templates (including "Simple", "Standard" and "Custom") so that customers can open their favorite edition of card by choosing "Simple" or "Standard" in the application form. Furthermore, the Bank will offer "call-charge giveaways worth RMB1 million" to ICMC holders by launching WeChat interactive games on mobile phones from October 15 to December 15, 2015. All ICMC holders or users can participate in the games and have lucky draws; and the prizes include iWatches, and giveaway call charges for mobile phones.