Online Banking in Hong Kong
Category: Financial Services
Library Code: DMFS2259
Publication Date: 18-Jul-08
The Hong Kong online banking market is among the most advanced in the world,
with online banking portals offering sophisticated features not seen elsewhere.
The Hong Kong market is mature with around 3.5 million online banking customers.
Hong Kong’s close ties with mainland China makes the market an ideal springboard
for financial institutions looking to expand into the mainland.
*Includes a comprehensive overview of the Hong Kong online banking market.
*Provides online banking customers data and market share of top competitors.
*Discusses security issues and two-factor authentication.
*Analyzes current trends in the market.
There are over a hundred fully licensed foreign banks in Hong Kong, in addition
to 23 fully licensed domestic banks. In Hong Kong’s three-tier system of banking
there are also dozens of restricted license banks and deposit taking companies,
which are limited in terms of offering retail banking to the public.
The emergence of banking directly from the mobile phone will change the playing
field for security and two-factor authentication. If the banking transaction is
performed on the mobile phone, then that device is no longer considered “out of
band” as a separate route of confirming identity.
Although not as fast off the mark as some other countries, Hong Kong banks have
shown foresight when it comes to realizing the potential of the online banking
proposition, as well as being proactive regarding channel challenges. Chekiang
First Bank started offering basic online banking in 1997, and Citibank
introduced online banking in 1998.
Reasons to Purchase
*Improve your strategic position using Datamonitor's in-depth analysis of the
Hong Kong online banking market.
*Understand the unique challenges the online banking market is facing, and
benefit from forecasts of future product trends.
*Financial services providers hoping to tap the enormous market of mainland
China should study analysis of the Hong Kong market first.
Click here to view THE TABLE OF CONTENTS
This product was added to our catalog on Monday 15 September, 2008.