Over the past few years, by leveraging the strength in big data and information technology, ICBC has offered a series of online financing aimed at household consumption to boost the integrated development of “consumption, finance plus Internet”. As at the end of 2015, outstanding loans of ICBC’s personal online financing business hit almost RMB 300 billion, with an efficient, convenient online financing service available to nearly five million consumers.

According to an ICBC official, the Bank has been dedicated to shoring up the entire consumption chain through a full package of financial services. In recent years, thanks to innovations in Internet finance and operation mechanism, its banking services have become more resilient with capabilities to meet multi-tiered and diversified consumption requirements of different customer groups. ICBC consumer finance has benefited many recipients by introducing brand-new customer experience and premier services alongside improving the public Better Life Index.

In designing products and processing business, ICBC has taken account of characteristics of consumer financing in the Internet era, providing various online channels including Internet banking, mobile banking, direct banking and the instant messaging platform “eConnect”, to enable customers to access loan online. The operation is very simple and efficient. For example, "Easy Loan”, developed by ICBC using the big data technology, can accurately grant loan due to its ability to locate customers’ consumption history, financing requirement and credit status precisely. Once consumption is made online or offline, customers can receive the loan application short message, realizing immediately loan after swiping card without regional or time differences. As at the end of 2015, "Easy Loan” registered a financing balance of more than RMB 200 billion and cumulatively served over 4.5 million consumers. In granting pledged consumption loan, ICBC innovatively launched the self-service loan pledged with personal financial assets, whereby customers can independently apply for and obtain the loan on a real-time basis through Internet or mobile banking. In this way, customers’ assets of book will be effectively activated for spending. As at the end of 2015, ICBC disbursed an aggregate of RMB 133.5 billion such loan with a balance up to RMB 56.6 billion for the year, satisfying the demands of more than 100,000 individuals for consumption in shopping, decoration, wedding, tourism and leisure, education and training, culture and sports, among others.

In addition, ICBC has extended online financing into the purchase of houses and other immovable properties. Early this year, ICBC launched ICBC e-Buy “Instant Loan”, an online residential mortgage loan product, making it the first bank in the industry to realize full-suite online mortgage loan procedure including online application, online approval, online lending and online tracking, which provides customers with brand-new house purchase experience.