IDC Perspective (Case Study): How Does WeBank Lead the Way Among Digital Banks Worldwide?

This IDC study provides a detailed analysis on how WeBank is leading the way in worldwide digital banking. It first analyzes the development trends of digital banking and then has a detailed examination of WeBank. In the research on WeBank, it focuses on three aspects: first, the reason why WeBank becomes the world's leading digital bank; second, WeBank's innovations that it builds its achievements on; and third, the changes WeBank's innovations are bringing to the industry and society. At the end of the report, case enlightenment and recommendations are given to tech buyers.According to Alice Wen, research manager at Financial Insights, IDC China, "WeBank has attained swift growth in the nine years since its founding. It has not only achieved outstanding results in the financial inclusion field but also driven huge changes in the perception of and action on financial inclusion in China's banking industry. Its achievements signify a milestone in the development of both digital banking and financial inclusion. WeBank's innovative ideas and methods in digital bank development are not only applicable to itself but also highly valuable for all digital banks, traditional banks, and other financial institutions. Its case provides many insights for tech buyers. It is recommended that tech buyers fully leverage emerging technologies to actively adopt a blue ocean strategy in developing financial inclusion business, while maintaining a sense of crisis and continuous innovation to gain the initiative and advantage in the future competition."