Online Banking in Hong Kong

Introduction
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.

Scope

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.

Highlights
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.

Why you should buy this report

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.

source:
http://www.banking-business-review.com/research.asp?guid=DMFS2259