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HKCB's New Bank-Cert Creates A Secure Online Banking Environment

Mary Swire, Tax-news.com, Hong Kong

03 April 2001

The Hongkong Chinese Bank Ltd (HKCB) and Hongkong Post yesterday announced the launch of the HKCB Bank-Cert, which enables customers to access the one-stop e-banking service of HKCB.

HKCB is one of the pilot banks in Hong Kong to accept both the Hongkong Post e-Cert and HKCB Bank-Cert in its online banking transactions which require the use of digital signatures to authenticate the identities of the customers. The HKCB Bank-Cert has a number of features, including a strict authentication process for the proof of identity, and allows secure online banking transactions. In the near future, it will be possible for the HKCB Bank-Cert to be used for Internet stock trading and for conducting transactions on the website of the Electronic Service Delivery (ESD) scheme, via which the government delivers a whole raft of services.

From now until April 30 2001, the HK$120 annual fee for applying for the HKCB Bank-Cert will be waived for the first year. It can be applied for directly at any of the 21 branches of HKCB.

Commenting on the development, Managing Director and Chief Executive of HKCB, Raymond Lee, said: 'It is our mission to provide our customers with a comprehensive and sophisticated online banking service. The HKCB Bank-Cert is a significant component of our one-stop e-banking service.' He added: 'One of the most frequently asked questions on e-banking is about security. We have virtually eliminated this problem by using the latest encryption technology when we launched our e-banking services last year. But we believe we could do more. The newly launched HKCB Bank-Cert can streamline the whole application process for the digital certificate.'

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