Mobile Banking Iteration Observation: CMBC and Postal Savings Bank Emerge as Dark Horses in MAU Growth, Major Banks Compete in AI Upgrades

Why do users’ ratings remain unsatisfactory despite frequent iterations of AI and mobile banking?

Yang Mengxue, Researcher at 21st Century Asset Management Research Institute

Monthly active users have reached a new high of 680 million, making mobile banking undoubtedly the main battlefield for financial digitalization.

Data from AnalysysQianfan shows that by December 2025, mobile banking service apps have 681.33 million monthly active users, a 2.99% increase month-over-month and a 14.33% increase year-over-year.

Market enthusiasm continues to rise. An intuitive proof is that the number of players with monthly active users exceeding ten million has increased from 12 to 13; among the top 35 apps by monthly active users in the industry, 29 have achieved positive growth, with only 6 experiencing declines, painting a picture of overall industry vitality.

Beneath this prosperous growth curve, a “user experience dark battle” has quietly begun. According to data from Diandian, among 50 mobile banking apps monitored, the average iteration version for iOS in 2025 is 12, with an average rating of 3.7.

Which banks are emerging as dark horses in monthly active user growth? What areas are mobile banking iterations focusing on? What are the remaining “pain points” in user experience?

From data obtained via AnalysysQianfan, among the top 35 mobile banking apps by monthly active users, there are 6 state-owned banks, 9 joint-stock banks, 1 private bank, 7 city commercial banks, and 12 rural and provincial banks.

By December 2025, the number of mobile banking apps with over ten million monthly active users increased from 12 to 13, with Minsheng Bank making a leap. Although Minsheng Bank’s average monthly active users throughout the year was only 8.6759 million, it has been steadily rising, surpassing 10 million in November, a 56.3% increase compared to January 2025.

In terms of growth rate, only 6 of the top 35 mobile banking apps saw a decline in monthly active users, including Chongqing Rural Commercial Bank, Guangdong Rural Credit, Guangxi Rural Credit, Sichuan Rural Credit, Everbright Bank, and Shandong Rural Credit.

The other 29 banks experienced fluctuations but overall growth. Minsheng Bank led with a 56% increase, followed by Postal Savings Bank with a 44.36% rise, growing from 30.42 million in January to 43.92 million in December, with an average of 36.78 million monthly active users throughout the year. Additionally, Shanghai Bank, Yunnan Rural Credit, and Zhongyuan Bank saw growth rates exceeding 30%.

1. State-Owned Banks: Long-term “Dominance” in Monthly Active Users, Top Three Exceed 100 Million

Six state-owned banks achieved fluctuating growth in monthly active users in 2025. With the top-line growth plateauing and a focus on deepening existing users, their growth rates are all in double digits. Among them, ICBC, ABC, and CCB rank the top three, with monthly active users far ahead of other mobile banking apps.

2. Joint-Stock Banks: China Merchants Bank Leading, Everbright Bank the Only App with Negative Monthly Active User Growth

Among 12 joint-stock banks, 9 are in the top 35 by monthly active users, with China Merchants Bank ranking first, approaching 60 million users by December 2025.

In terms of growth rate, Minsheng Bank, Industrial Bank, CITIC Bank, and Huaxia Bank all grew by over 10%. Looking at trends, apps like Ping An Pocket Bank, SPD Bank, Everbright Bank, and GDB Bank show significant fluctuations, with Everbright Bank being the only one among these nine to experience negative growth in monthly active users.

3. City Commercial Banks: Rapid Growth Across the Board, Jiangsu Bank Remains First

Among the top 35 mobile banking apps, city commercial banks hold 7 spots, with Jiangsu Bank, Bank of Beijing, and Bank of Ningbo ranking the top three, with relatively high user volumes.

Notably, all seven city commercial banks saw rapid growth. Except for Changsha Bank, which grew by 7.16%, the other six maintained double-digit growth. Shanghai Bank and Zhongyuan Bank had particularly fast growth rates of 38.97% and 31.21%, respectively.

4. Rural and Village Banks: Divergent Growth, Fengshou Internet Leads with 7.9 Million

Among rural and village banks, Fengshou Internet, Jiangsu Rural Commercial Bank, Shaanxi Trust, and Sichuan Rural Credit all have over 6 million monthly active users. Fengshou Internet maintained over 7 million throughout the year, ranking first, even surpassing some city commercial banks like Bank of Beijing, showing strong regional performance.

Unlike other categories, rural and village bank apps exhibit more volatility in user numbers, with some experiencing negative growth. Out of 12 banks, 5 saw declines, including Chongqing Rural Commercial Bank, Guangdong Rural Credit, Guangxi Rural Credit, Sichuan Rural Credit, and Shandong Rural Credit; the other 7, such as Yunnan Rural Credit and Jiangsu Rural Commercial Bank, grew rapidly at 32.44% and 24.21%, respectively.

Overall, in the current stock competition era, different types of banks, due to resource endowments and market positioning, follow different paths and focus areas.

For example, large state-owned banks leverage their vast customer base and resources to build comprehensive ecosystems, aiming to create digital life infrastructure; joint-stock banks focus on their strengths, building professional barriers in wealth management and offering differentiated services; regional banks like city and rural banks excel in localization, deeply integrating mobile banking with local livelihoods, small and medium-sized enterprise needs, and regional markets.

Moreover, mobile banking operational strategies also influence user growth. For instance, Agricultural Bank of China’s integrated operation of mobile banking and credit cards tends to boost active users and provides a more consistent, comprehensive experience. Conversely, banks like China Merchants Bank and Bank of Communications, which operate mobile banking and credit cards separately, tailor their ecosystems to their business features, offering distinct advantages in each app, both recognized for good user experience.

Today, mobile banking iteration is no longer just about fixing bugs or optimizing interfaces; it’s a continuous process of experience reshaping and ecosystem expansion guided by user behavior data.

Data from Diandian shows that the average number of iterations for iOS versions of mobile banking apps in 2025 is 12. Different bank categories have different averages: joint-stock banks average 16 iterations, state-owned and city commercial banks around 12 and 11, respectively, while rural and village banks average only 9.

Specifically, the focus of updates varies:

1. Big Banks Compete in AI

Major banks like state-owned and joint-stock banks have shifted from feature stacking to experience reconstruction. The “2026 China Financial Service Application Panorama Analysis” notes that competition among leading banks has moved from basic functions and scale to AI capabilities.

By December 2025, Postal Savings Bank and ICBC released new versions emphasizing AI features, with China Merchants Bank also launching a more intelligent 14.0 version.

For example, China Merchants Bank’s 14.0 version integrates AI customer service deeply into user journeys, enabling users to wake up services anytime and get instant assistance. It also reflects intelligent upgrades in wealth management, interaction, and proactive services.

2. Regional Banks Focus on Deep Local Cultivation

Regional banks’ updates emphasize enhancing functions and experience, with a focus on deep localization.

On one hand, they strengthen features and experience. From the 2025 trends, regional banks are reconstructing interfaces, enhancing wealth management, and introducing intelligent services. For example, Xiamen International Bank’s 5.0 version improves UI and visual design; Shandong rural commercial banks’ 6.0 version offers one-stop asset management and full online loan processes.

Additionally, app mergers expand application scenarios. Many banks are shutting down direct sales banks and credit card apps, integrating functions into their main mobile banking apps. For example, Zhuhai Huaren Bank shut down Runchain Wallet, Beijing Rural Commercial Bank closed its Phoenix Credit Card app, and Bank of Beijing shut its direct banking app.

On the other hand, deep localization remains key for regional banks, integrating finance with local life, government services, characteristic industries, and scenes.

An industry insider mentioned that after its 2017 redesign, Zhejiang Rural Credit’s Fengshou Internet penetrated local life extensively, covering transportation, tourism, markets, convenience stores, schools, youth centers, and healthcare, all accessible via the app. Deep localization continues to be a focus.

Data shows that scene integration significantly boosts activity. For example, Jiangsu Bank’s “Su Super” event during a match, with features like ticketing, coupons, and live streams, led to a sharp increase in app downloads.

Using apps from large state-owned banks feels comprehensive but somewhat bulky; local rural banks’ apps feel simple and authentic—this is a common experience when switching between different mobile banking apps. Despite years of digital transformation slogans, the promise of “providing an ultimate experience” often feels distant from the tactile reality of fingertip interactions.

App ratings reveal an average score of 3.7 for iOS versions in 2025. Among bank types, state-owned banks score highest at 4.35, followed by joint-stock banks at 3.94, with city and rural banks scoring 3.6 and 3.2, respectively.

Iteration efforts don’t always lead to better luck. Data from Diandian shows that among 50 monitored apps, the two with the most iterations in 2025 are Guiyang Bank (32 times) and Guangxi Beibu Gulf Bank (20 times), yet their ratings are only 2.3 and 2.5.

Reviews highlight issues like crashes, lag, missing features, complex interfaces, and login problems. For example, Guiyang Bank’s negative reviews cite app crashes, slow responses, and difficulty finding functions; Guangxi Beibu Gulf Bank users complain about login failures, card binding issues, and app updates.

A broad survey of user experiences shows that not only regional banks but also large state-owned and joint-stock banks face similar complaints, often related to basic functionalities.

For instance, China Construction Bank’s complex features and unclear navigation, along with forced use of metaverse modes, frustrate users; ICBC’s chaotic layout and performance issues, like slow loading, also diminish experience quality.

This reflects a paradox: behind the pursuit of “high-end” branding, are mobile banking apps truly optimized for core functionalities?

Many apps promote advanced features like intelligent investment advisors and ecosystem integrations, but basic functions often lack smoothness, stability, and usability. From a user perspective, high-end features may be rarely used, but small bugs or illogical designs in fundamental functions can cause frustration every time.

Ultimately, all sophisticated design must serve daily user needs. Refining transfers, queries, and payments to be smooth, stable, and reliable may be more valuable than any flashy new feature. This solid foundation might be the most critical part of what’s called “digital transformation.”