Hsbc Mobile Banking
Decades have witnessed the significant changes of the way people applying banking services. Traditionally, customers can only go to physical banks managing their financial affairs, however, banks nowadays make it a reality that customers can perform monetary transactions through Telephone Banking, Internet Banking, Mobile Banking and any other self-serve systems within digital devices. All these banking innovations seem like only existed in science fiction where people get access to progressive invisible banking systems. And mobile banking is a case in point. In this section, we will introduce the related information of mobile banking services in Hong Kong and how this innovation provides people with advanced factors in daily life.Background of Mobile Banking Mobile Banking is an application relies on modern technology and information system that enables customers manipulate their banking accounts at anytime and anywhere. It refers to provision of banking and financial services with the help of mobile telecommunication devices. The scope of offered services may include facilities to conduct bank and stock market transactions, to administer accounts and to access customized information.[1] Nowadays almost every banks implement their own mobile banking application through Apple devices, Andriod devices and even BlackBerry devices for smartphone and tablets users. Customers can do almost anything related to basic monetary management within their mobile banking system. Take HSBC Mobile Banking application for example(Figure 1): After registration on the homepage of HSBC’s mobile banking, clients can choose to get access to account balance, deal with fund transactions between accounts, pay their credit cards and bills on the go for registered merchants, obtain information of real time stock quotes, check up to ninety foreign exchanges rate, etc.
[pic 1] Figure 1 : Mobile Banking System ServicesTo illustrate the working process of mobile banking, we classified the services into two catalogs on the base of information flow. One is when a digital user send requirements through mobile banking system ( online purchasing, bill payment, financial product investment, etc.), and the other is when banks send information to their mobile banking users ( bill payment alert, credit alert, products recommendation, etc.). Here is one example of information flow from mobile banking users to online banking system (Figure 2) from user’s perspective.[pic 2]Figure 2 : Information Flow from Customer to SystemBenefits of Mobile BankingMobile banking provides customers with access to fastness and convenience, at the same time helping banks create a competitive advance in banking industry. Gemalto, an international digital security company manufacturing SIM cards, explains that “Mobile banking helps banks create a compelling and satisfying online customer experience, driving increased interaction and sales over the mobile phone, and reducing operational costs”.[2]