HSBC launches mobile banking operations

Provides instant banking, investment and insurance services as it offer secure internet banking via mobile platform.

HSBC on Tuesday announced the launch of HSBC Mobile Banking which enables customers to access investment and insurance services, in addition to other popular banking services, through a simple and secure mobile banking platform. Customers can access the service by logging on to www.hsbc.com.hk via Apple iPhone, Apple iPad and Apple iPod Touch.

By launching the service, HSBC is the first bank in Hong Kong to provide the choice of two log-on modes – Security Device mode and Dual-password mode. Additionally, through these enhanced mobile banking solutions, HSBC customers can perform instant Hong Kong and US stock trading, buy and sell a broad range of foreign currencies and purchase travel insurance simply. The new service is available to both HSBC Personal Financial Services and Commercial Banking customers, according to an HSBC report.

Ada Chiu, HSBC’s Head of Direct Channels Personal Financial Services in Hong Kong, said: “The widespread adoption of smartphones in Hong Kong, including the iPhone, iPad and iTouch, has lead to increasing demand for mobile banking services. HSBC is launching its mobile banking services to provide enhanced convenience and flexibility to our customers, backed by our unmatched security processes. The launch of HSBC Mobile Banking enriches our service channels, and empowers our customers to better manage their banking, investment and insurance requirements.”

Irrespective of time and venue, customers can use HSBC’s existing banking and investment services through HSBC Mobile Banking via iPhone, iPad or iPod Touch. Following this service launch, HSBC remains committed to further developing its mobile banking services in Hong Kong by launching additional smartphone platforms and application in the near term.

HSBC Mobile Banking provides customers with features including:

Banking Services

• the ability to view account balances and transaction history;
• a platform for Hong Kong dollar and foreign currency funds transfer within HSBC; and
• platform to pay registered bills (bill payee accounts have to be registered first on Personal Internet Banking or Business Internet Banking).

Investment Services

• the ability to trade Hong Kong stocks (Limit Order, Market Order and At-Auction Order) and US stocks (Limit Order and Market Order); and
• buy and sell foreign currencies.

Insurance Services

• make a Single Trip TravelSurance

HSBC Mobile Banking provides unrivaled security measures to protect the interest of customers. Customers can choose the “Security Device Mode” or the “Dual Password Mode” to log-on to HSBC Mobile Banking using the current Personal Internet Banking or Business Internet Banking credentials (username, password, security code generated by the security device/second password). Credentials do not require separate registration.

The HSBC Mobile Banking securities measures include:

• Security Device - A security code generated by the Security Device is required to perform selected banking transactions, like stock trading;
• Encryption - Secure Sockets Layer (SSL) Encryption technology (128-bit SSL Encryption) is used within an HSBC Mobile Banking session to encrypt personal information which is fully compliant with industry standards; and
• Session Time-out - For password inaccuracy or mobile phone inactivity for a period of time during a session, the session will be logged off automatically.
• SMS Confirmation - HSBC will send an SMS notification to customers who have performed certain transactions.
• Extended validation of SSL certificate (EV SSL) - HSBC is one of the first in the market to adopt the EV SSL certificate which enables customers to instantly recognise that they are on a genuine HSBC website.
• Real-time suspicious activity monitoring – HSBC has an internal fraud monitoring system running in real-time to detect suspicious activities.
• Firewall - HSBC web servers are protected behind firewalls.