Whilst HSBC is considered a relative latecomer to the online financial services scene, its performance is good. For example, Bank of East Asia was one of the first institutions to go online, but it took six months to register aound 100,000 online customers from September 1999.

In this new marketing push, HSBC is starting to target the customers of its rivals. Richard Kimber, head of HSBC's personal e-business group in Asia, stated: 'At first the goal was to get existing customers online. Now we're trying to get new customers with a raft of services.'

The new services include trading in unit trusts (mutual funds), loans, insurance and credit cards. HSBC is also encouraging online banking customers to apply for a securities account to trade stocks; it doesn't charge a fee to open accounts or require a minimum balance.

Mr Kimber continued: 'The online service is all about people, not technology. Our site empowers customers by putting banking in their hands.' HSBC's customers in Hong Kong mostly visit the website to check banking and portfolio statements. Some 53 percent of the transactions are for transfers to 61 banks in Hong Kong and 300 banks around the world.

HSBC plans to offer Chinese language services later this month and online banking for small businesses next year. It is devoting considerable resources to preparing mobile e-commerce for consumers and an array of B2B offerings for larger customers. According to Mr Kimber, HSBC will extend its online B2C services to Australia, Singapore and India.