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Wednesday, November 21, 2018

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Deutsche Bank joins Chinese social media platform

Martin Greenland | 15:15 Monday 4th December 2017

Deutsche Bank has launched a new channel on WeChat, the Chinese social media platform that combines the functions of apps including WhatsApp, Facebook, Twitter and Skype on one mobile application.

The bank's WeChat account will publish content on a regular basis, including macroeconomic views, feature interviews, business updates and event information.

The digital platform is the most popular in China with more than 980 million active users.

Half of its users (50%) access the app for more than 90 minutes a day, sending messages, transferring money, paying bills, shopping online and reading news.

"The WeChat channel will help us promote the bank's outlooks, strategies and successes among our Chinese-speaking stakeholders, who are increasingly using the app to access information,' said Feng Gao, chief country officer for China at Deutsche Bank.

WeChat is promoting a cashless society as shops and businesses in China are increasingly opting for mobile payments via the app rather than accepting paper currency.

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