On February 21, 2019, CBiBank.com, the US bank led by Digital China Financial Group, a pioneer in the payment field, and IDG, a well-known investment institution, was officially put into trial operation. CBiBank is a bank that is officially licensed by banking regulator located in a US Jurisdiction and has joined the Global Banking Financial Telecommunications Association (SWIFT) organization, which is mainly for small and medium-sized enterprises, providing standardized and professional international banking services.
The small and medium-sized enterprises financial payment to the sea "three big mountains" to limit profitability
In recent years, affected by the international economic situation, the small and medium-sized enterprises that have been in the forefront have been subject to various restrictions and are caught in the development bottleneck. The author concludes that the financial field mainly includes the following three points:
1. Large financial institutions have insufficient coverage of small and medium-sized enterprises in the market. SMEs often can't reach such a high threshold. It is very likely that after spending 3-6 months and tens of thousands of yuan, they will eventually be told that they have failed to open an account at an overseas bank. If the account is successful, it will cost a year to maintain an overseas corporate bank account, and there will still be a risk of trading freeze or account closure.
Second, cross-border remittance costs are high. Foreign trade has traditionally been quoted and settled in US dollars, which means that there are two currency exchanges for non-US regions that account for 85% of exports. Overseas banks charge nearly 3% of the exchange fee and 80-100 US dollars for each remittance fee. The single transaction volume of small and medium-sized enterprises is small and frequent, and the overall handling fee is even higher.
Third, the risk of exchange rate fluctuations increased. Recently, due to the impact of trade friction, the exchange rate fluctuations have become larger and larger, which makes the small and medium-sized foreign trade enterprises with very low profit margins. If the external quotation is high, the customer may be lost. The report is low, and the exchange rate may fluctuate slightly and may lose money.
The above three major problems have largely restricted the profitability of small and medium-sized enterprises in themarket, and it is urgent to seek legal and compliant, safe and reliable financial channels that can release pressure.
The World Bank predicts that global economic trade will slow down and the pressure on small and medium-sized enterprises will gradually increase
In the latest Global Economic Outlook of January 2019, the World Bank pointed out that in the face of rising economic risks, the global economic growth in 2019 is expected to further drop from 3% in 2018 to 2.9%.
The World Bank pointed out that international trade and manufacturing activities are weak, trade is tense, and some emerging markets have experienced financial market pressures. The shrinking global trade volume is one of the reasons for the global economic slowdown. For this reason, the World Bank's trade volume in 2018 and 2019 is expected to be reduced by about 0.5 percentage points from the previous one.
Compared with international giants, SMEs in the sea are more vulnerable to trade and economic changes. How to reduce risks in an uncertain economic environment is an eternal topic for SMEs. An open, convenient and secure new financial platform is a viable option for small and medium-sized enterprises.
CBiBank is safe and reliable, and rich financial solutions solve the problem of small and medium-sized enterprises in themarket.
According to the official website, CBiBank is a US-based bank (SWIFT code: CBLBPRSJ), established in June 2017, has a banking license in the United States, and is regulated by the US territory banking supervisory authority; its management team has extensive bank management and practice. experience. CBiBank is committed to providing a variety of customized international financial solutions for small and medium-sized enterprises through convenient and fast online banking services.
According to the disclosed information, CBiBank is a professional banking institution led by Digital China Financial Group, a pioneer in the payment field, and IDG, a well-known investment institution. In the past ten years, Digital China and IDG have explored many investment opportunities in the payment field, and hatched outstanding payment companies such as Shenzhou Fu, Qian Bao Bao and Smart Fruit. Among them, Shenzhou paid to officially land in Hong Kong stock exchange in 2013. The stock code 08255.HK; and the money bag treasure was transferred to the US group in 2016, 100% shares, became the internal payment platform of the US group.
Shenzhou Digital and IDG's many mature investment experiences in the payment field have enabled the two to further advance in the financial field, and keenly grasp the many pain points of overseas SMEs' overseas payment and collection, bank account opening, cross-border transfer and service convenience, from 2017. Started to build overseas banking business and named “CBiBank” to continue and borrow the strong brand effect accumulated by Digital China.
After continuous efforts, in the past six months, the CBiBank team has accelerated the process of professional team building, platform construction and testing, and regulatory processes.
The well-known information agency Bloomberg News reported in early January that CBiBank participated in the 40th anniversary of the establishment of diplomatic relations between China and the United States organized by the Carter Fund. In addition, the news from the recent multi-party outflow shows that CBiBank has started trial operation.
In recent years, the concept of “Challenge Bank” has been popular overseas, and Challenge Bank simply refers to banks that challenge traditional big international banks. As Bloomberg News pointed out in the article, CBiBank is in the era of booming Internet finance. CBiBank may be a rising star to challenge traditional international financial giants and become an important supplement to the latter in the field of banking services.