electronic banking internet-banking in hong kong

Electronic Banking

Internet-banking in Hong Kong

Flow

• Introduction• E-banking of Hang Seng Bank Limited• Security• Game time• Advantages and disadvantages• Future suggestions

Objective

• To find out why Internet–banking is growing attractive in Hong Kong

• To provide suggestions to improve the disadvantages or problems now

Introduction

• Starting since 80’s• Fast development since 1999

Introduction

Introduction

Electronic banking

• Electronic fund transfer (EFT)• Channels to introduce products and

services• Access checking accounts anytime at

anywhere

Electronic banking

Electronic delivery channel • Automated teller machine (ATM)• Phone banking• Internet banking

Electronic banking

• Online services– daily banking service– investment– credit card– mortgage lending– personal credit– insurance service

Electronic banking

E-banking of Hang Seng Bank Limited Personal vs. business e-bank accounts

0

10000

20000

30000

40000

50000

60000

70000

Personal e-bankaccounts

Business e-bankaccounts

2005

2006

21.2%

32.1%

E-banking of Hang Seng Bank Limited IPO subscriptions vs. securities trading

0%

10%

20%

30%

40%

50%

60%

70%

80%

IPO subscritions Securities trading

2005

2006

13.1%5.8%

Security

• Using the Hong Kong Smart ID card and USB key

• SMS-based one-time password (OTP)• Token-based OTP

Game time

Advantages

For the bank• Reducing operation cost from

branches• Attract new customers• Promote products and services

internationally

Advantages

For the customers• Convenience• Timesaving

0

5

10

15

20

25

30

Convenience Time-saving Easy to use Others

Disadvantages

• Fraudulent website• Stability of the network are easily

affected• Non-instantaneous query services

Suggestions

• Audio assistance

Satisfaction of customer backup services

Suggestions

• E-mail OTP

Limitation of internet banking

Q & A