HONGKONG and Shanghai Banking Corp Ltd (HSBC) is confident of getting more of its multinational corporation clients to utilise its e-commerce initiative, email@example.com, in enhancing their productivity and business growth potential.
According to its e-commerce business development and marketing manager Larry Campbell, the portal – which comes with an information platform for obtaining valuable market data and a transaction platform for online foreign exchange trading, currently had more than 6,000 individual users from about 200 multinational clients.
“We feel that technology will play a more important part in banking and that financial transaction in future will be done through the Internet,” he at a briefing in Kuala Lumpur on Thursday.
Describing the growth of online transactions, Campbell said more than US$45bil was transacted in Asia-Pacific region through HSBC's platform in January compared with only US$4bil in March last year.
Campbell said the Asia-Pacific region was the key in the bank's e-commerce initiative as the region was receptive to the use of technology in banking.
“Besides saving time through faster processing, it also frees our dealers to perform more valuable manual research work which could not be done by technology,” he said.
Campbell said the bank's information technology (IT) capability currently ranks highly among corporate and institutional clients despite being perceived as not IT-savvy 12 to 18 months ago.
“We feel that security is no longer an issue with online transactions as our site is well protected against any possible hacking,” he said.
The HSBC portal also provides market research and analysis from its pool of analysts throughout the world.
“The site has more than 5,000 articles for fast search and 30,000 more in a searchable online archive,” he added.
The site also has a personal page that could be customised to make it friendly for individual users and an events calendar to alert users of the latest events.
Campbell said more new features would be introduced into the site as part of the bank's continuous effort to bring the latest applications to meet client demand.
Among the tools to be introduced this year are the foreign exchange flow tool, currency options tools, foreign exchange order book integration and links to, and eventual integration with, a transaction platform.