OREANDA-NEWS. April 26, 2013. In Beijing, the World Bank conducted the foreign affairs exchange meeting for branchless banking businesses and financial consumer protection. Attending the meeting were the head of the Consultative Group to Assist the Poor (CGAP) (Asia) and the Global Technology Project of the World Bank, experts from International Finance Corporation (IFC), and the Deputy Director of the Financial Consumer Protection Bureau of the People’s Bank of China (PBOC). Shaanxi Branch of Agricultural Bank of China Limited (ABC), the only commercial bank invited, introduced its innovative practice of branchless banking operations in rural areas of Shaanxi Province. This innovative practice of “Four-in-One” rural financial service model and farmer cash withdrawal service gained recognition and favorable comments from both World Bank and PBOC experts.

The meeting addressed topics of global development trend, regulation, and customer protection of branchless banking business and the characteristics of its customers. IFC introduced the global experience of the agency model and its work plan in China. The PBOC described the implementation of pilot branchless banking business in China. After that, the experts listened to the report of ABC Shaanxi Branch on its recent innovative practices and experience in providing branchless banking business for rural customers through the “Four-in-One” service model. Shaanxi Branch fulfilled ABC's social mission as a “responsible bank in serving agriculture, rural areas and farmers (Sannong)” through presenting its successful experience and concepts of farmer cash withdrawal service.

In recent years, to break the bottleneck of financial services for rural economic development, ABC Shaanxi Branch actively played a role as the mainstay and backbone of rural finance. It made the utmost of its unique advantages in network, branches, services and products, and actively innovated branchless banking business in rural areas. Shaanxi Branch made great efforts to develop effective ways to narrow urban-rural disparity, promote mutual urban-rural prosperity and accelerate urban-rural integration. As a result, Shaanxi Branch took the lead in creating an ABC-featured service model combining “branch + dedicated Sannong windows, moving banking, self-service banking and payment express + agency”. Additionally, it established the “Four-in-One” new rural electronic website and payment service channels based on “farmer’s benefit” financial service stations. Finally, it established a basic financial service network platform to implement the national policies of “enhancing agriculture, benefiting rural areas and enriching farmers”.

It was reported that ABC Shaanxi Branch has installed over 9,500 “farmer’s benefit” financial service stations in rural areas of Shaanxi Province, and more than 24,000 POS machines, transfer telephones, and self-service devices in county areas. The coverage rate of electronic facilities in villages and towns and administrative villages reached 100% and 76% respectively. Rural financial services are now available in all villages of key regions, providing rural households with convenient and effective means of payment and settlement. ABC’s financial network enables 120 million farmers to conduct banking businesses without stepping out of their villages or towns, thus basically enjoying access to modern financial services equal to that of urban residents.