Hong Kong's Bank of East Asia (BEA), which has already made great strides in the field of online banking, is to further develop "cyberbanking", says the bank's Chairman, David Li. A strong force in online stock trading too, the BEA might separate its online banking and online trading activities into totally separate entitities in the near future, which Mr Li believes will extract greater value from the use of Internet technology.
At the Asia Banking Conference held recently in Hong Kong, Mr Li commented: ' The Internet is central to our strategy to continue stronger expansion and growth and is central to our plan to enhance shareholders' value significantly during this year and beyond.' Next month the BEA will be authorised to offer mortgages online and expects to begin offering insurance and other products online soon after.
BEA was one of the first banks in Hong Kong to introduce Internet share trading and online banking. Customers now have direct access to East Asia Cyberbanking at home through their TVs, with the iCare Internet-on-TV service provided by BEA and iCare.com Ltd. East Asia Cyberbanking customers can also enjoy the first PDA-based transactional banking service in Hong Kong, jointly presented by BEA, PrivyLink International Ltd, Microsoft Hong Kong Ltd and Pacific Century CyberWorks Mobility Services. In addition, a new Interactive Voice Recognition Service allows customers to obtain real-time stock quotes using simple voice commands.
December 2000 saw the launch of My CyberWorld, which provides integrated banking services and products in both the business-to-consumer and business-to-business market. My CyberWorld includes CyberFund, a comprehensive fund investment portal launched in partnership with Access Investment Management (HK) Ltd; CyberPayment, which assists corporate customers in collecting bills and other charges; CyberValuation, real-time property valuation service and MyPortfolio, a tool for assisting customers in managing their financial profile.
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