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China Merchants Bank

Asia/PacFintechNews Roundup
·Feb. 15, 2017

China Merchants Bank Revises Rules for Hong Kong Bank Accounts

Bank account applicants must now have assets at the bank averaging 5 million yuan ($730,000) per day over the past three months, this threshold is an increase from 50,000 yuan ($7,280); the changes are being enacted to help restrict capital outflows and ease depreciation of the yuan; sources also report that the Bank of China has taken steps to set additional terms for restricting capital outflow; China Construction Bank and the Industrial and Commercial Bank of China have reported they have no intention to implement similar rules.  Source

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FintechNews Roundup
·Jan. 23, 2017

China Merchants Bank Offering Biometric Identification

China Merchants Bank is exploring biometric solutions for client identification; it has launched face recognition at ATMs as an option for identification; the bank has 1,000 ATMs in 106 cities and plans to offer face recognition at all of its Shanghai ATMs by the end of 2017.  Source

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