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through two major telecommunications operators (PCCW and Hutchison
Telecom).
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In-bank kiosks. BEA was the first bank in HK to launch kiosks for banking
transactions; the touch-screen device is located in branches and other high traffic
locations.
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PowerPhones. PowerPhones are multimedia payphones located in subway
and train stations, at the airport, and in shopping malls. In addition to payphone
service, they provide free access to the Bank’s Websites and electronic banking
services.
•
“Web TV” banking. iCare Internet-on-TV requires a set-top box for home
access to e-banking services.
•
Cyber Active Transaction Stations. These Internet-enabled kiosks, which
provide direct access to the Bank’s Web sites, are being pilot tested in two 24
hour convenience stores.
In Internet-savvy Hong Kong, this proliferation of banking platforms seems costly
and unnecessary. However, the bank plans to expand in China, where PC ownership
and personal Internet access are much lower than in Hong Kong. For tapping the
China market, mobile phones, kiosks, webTV and CATS terminals are likely to be better e-
banking platforms, at least in the short term.
One of these platforms is “Cyberbanking”
using PC-based Internet access
(http : / /www .hkbea -cyberbanking .com /index .htm) . Many of BEA ’s
Cyberbanking services are familiar to customers in North America and Europe,
e.g., balance inquiry, securities trading, bill payment, funds transfer. But some of
BEA’s online services are more advanced than those available elsewhere. In the
US, for example, e-banking customers cannot directly transfer funds to another
unrelated person’s account or into their own accounts in other financial institutions.
BEA’s customers can do so, in multiple currencies. This feature fits Hong Kong’s
small geographic size and mobile, international population and reflects the relatively
high concentration of banks in Hong Kong compared to the US.
Two other BEA Cyberbanking services deserve mention. One is online loan
application and approval. BEA claims a fully automated online application,
qualification and approval service for personal loans. All loan processing is done
automatically from the customer’s online input; customers are only required to enter