Banks use technology to fight rivals

Facing intense competition from internet finance companies, commercial banks in China are adapting to fast changing customer habits by adopting the latest internet technologies as well as changing their mindsets and business models.

China Construction Bank Corp, the nation's second largest commercial lender by assets, has been developing a web-based comprehensive financial service platform for the past four years and began implementing its "digital first" strategy in 2015.

Its mobile banking clients has exceeded 200 million, and its volume of mobile banking transactions was worth more than 13 trillion yuan ($1.9 trillion) at the end of June.