Money Moves

New era of 3G banking

By Yale Mak

This is a fortnightly series of articles focusing on the banking and financial industries

In a bid to provide customers with genuine mobile banking and financial services, one local institution is pioneering the first 3G site for e-banking transactions.

Arthur Wong, head of e-commerce, DBS Bank (Hong Kong) Limited, says, "Our new 3G site is not just another wireless platform that offers financial news and services. It is in fact the start of a trend which will gradually see existing 2G e-banking technology replaced as the rate of data transfer becomes 10 times faster."

By making use of the kind of multimedia capability now available, mobile banking services will become more interactive and no longer restricted to just voice and text applications. "Nowadays, global financial markets are inter-linked and customers want to have constant access to up-to-date information and product news," says Mr Wong. "Our aim is to empower them with the information they need to manage their finances effectively and maximise investment opportunities."

A secondary objective of the newly launched DBS 3G site is to offer products and services at the most opportune moment. "We believe that a defining element of e-banking is to provide services as and when the customer requires," Mr Wong says. "The increased accessibility means we can tailor things more exactly to match the needs of individual clients, and this will also increase our overall competitiveness."

The site is designed to combine the capacity of 3G technology with the expertise of DBS's team of financial analysts in providing video-based market information. "It is up-to-the-minute and will give customers a clear advantage when it comes to investing with insight," explains Mr Wong.

Currently, the site offers a wide range of financial data including exclusive market commentaries, interest and exchange rate updates and the latest promotional offers. "By the end of this year, the scope will be further extended," Mr Wong notes. "Customers will enjoy the freedom to trade securities, enquire about account summaries, transfer funds and perform bill payments anytime, anywhere."

Taken from Career Times 02 October 2004, p. 2
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