E-banking in Hong Kong

Financial institution in Hong Kong

Group 6

Presentation Agenda

1. Introduction

2. Criteria to be the good e-banking

3. Example of Hong Kong e-banking

4. The Best e-banking provider in 2005

5. Conclusion

Introduction

Provide banking services through electronic channel or electronic devices

First provided at 1999 By Hang Seng Bank About 66 restricted banks providing e-ba

nking in Hong Kong nowServices involve insurance, investment,

mortgage, credit card, personal credit etc.

Features of a good internet bank

Solid and Sophisticated Security Systems

Posted privacy policiesReal time, not batch processing24 hours phone accessThe site offer you the world in financial

services

Features of a good internet bank

Solid and Sophisticated Security Systems

Provide details of the security statement

Automatically log off if unused for a certain amount of time

Any guarantee will be covered the loss

The largest financial institution in U.S

Well Fargo Remove fund without your approval

guarantee covering 100%

Features of a good internet bank

Privacy

Why they take the information

How they will use the information

Who they will share the information

Why HSBC take the information?

To understand your financial needs and to conduct their business.

To provide you with better customer services and products.

How HSBC will use the information?

Keep your personal information on their records accurate and up-to-date

Who will share the information with HSBC?

All HSBC Group companiesAll their staff All third parties with permitted access to

your information Governmental or judicial bodies or

agencies or their regulators

Real Time ProcessingTransaction instantlyAvailable to check the updated account

at ATMService Hotline

Phone number clearly posted24 X 7 hotline servicesStaffs available for the lines

Features of a good internet bank

E-Banking services

HSBC

4 types of e-banking servicesInternet BankingPhonebankingSelf-service bankingMobile Banking

HSBC – Internet Banking

Investment services Securities, bonds and unit trusts trading Deposit services IPO services

General banking services Payment services Fund transfers 24-hour currency exchange service ForEx / Renminbi Switching services Instant account opening service

HSBC – Internet Banking

HSBC – Phonebanking

General Banking Services Balance enquiries Fund transfers Exchange rates, deposit rates and gold price

enquiries Bill payments Cheque and fund transfer status enquiries Request for statements, cheque book and ATM

PIN Request product or service information by fax

HSBC – Phonebanking

Investment Services Stock, index and unit trust fund price

enquiries Order placement, amendment and

cancellation for stocks and unit trusts Order status enquiries Portfolio enquiries Statement request Request unit trust fund price and fact

sheets by fax

HSBC – Self-service banking

Over 110 locations in Hong Kong, Kowloon, New Territories and outlying islandATMsCash Deposit Machines Instant Balance MachinesCheque Deposit MachinesPassbook Update MachinesOnline Financial Services Terminals

HSBC – Self-service banking

Banking servicesdeposit/ withdrawalfund transferbalance enquiriespassbook update

HSBC – Mobile Banking

Banking and investment operation• securities transaction and enquiries

through Order Confirmation Services • balance enquiries and fund transfer of

HKD account

E-banking service in HK

Hang Seng e-banking1. Personal Banking

2. Business banking

3. E-banking Security

E-banking service in HK

1. Personal Banking• Banking service• Investment service• Credit Card service• Mortgage service• Personal Credit Services• Insurance Services• Other Services

E-banking service in HK

2. Business banking• Payment services• Trade services• MPF• Investment• Insurance• Loan and Facility• Other services

E-banking service in HK

E-banking Security1. All-round security measures

• Adopts 128-bit encryption to establish an "information tunnel" for data transfer

2. Strict procedure controls• User name, date of birth and password

must be entered

Criteria to be the best

Success in getting clients to use Internet offerings growth of online customers

Breadth of product offerings

Strength of strategy for attracting and servicing online customers

The World’s Best Internet Bank 2005

Criteria to be the best

Evidence of tangible benefits gained from Internet initiatives

Web design and functionality

The strength of the bank’s security initiatives

The World’s Best Internet Bank 2005

HSBC - The Best Internet Bank in Hong Kong, Awards includes: The Best Corporate/Institutional Internet Bank in

Hong Kong The Best Consumer Internet Bank in Hong Kong The Best Integrated Corporate/Institutional Bank

in Asia The Best Information Security Initiatives

Corporate/Institutional Internet Bank in Asia The Best Websites Design Consumer Internet

Bank in Asia

The World’s Best Internet Bank 2005

Conclusion

M.C.

What should we know when the bank collect our information?

A. Why they take the information

B. How they will use the information

C. Who they will share the information

D. All of the above

E. Only A & C

Which of the following are types of e-banking services provided by HSBC?

A. Internet banking

B. Phone banking

C. Self-service banking

D. Branch banking

E. All of the above

F. All except (d )

Which one is Well Fargo guarantee covering ratio?

A. 80%

B. 90%

C. 70%

D. 100%

Which one is the best internet bank in 2005?

A. HSBC

B. Well Fargo

C. HSBC

D. DSBC

EndThank You