Cashing in on the Internet; assessing the future of on-line banking

Article Abstract:

While online banking offers banks the opportunity to reduce operating expenses, many Asian bankers believe it is an ideal marketing channel to attract a more profitable customer base. The Internet enables banks to offer customers information services on a real-time basis. In the US, Security First Network Bank, which was chartered as a bank that wholly conducted business via the Internet in Oct 1995, had deposits of $15.4 million as of Aug 31, 1996, and is expected to have deposits of as much as $200 million as by Jan 1999.

Security brokers and dealers, Securities Brokerage, Stock Brokerage, Management, Securities dealers, Stockbrokers, Asia, Intranets, Security First Network Bank F.S.B.

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Banks enter cyberspace to attract clients

Article Abstract:

Asian banks are beginning to offer online services to their customers. Thailand's Siam Commercial Bank Ltd. (http://www.scb.co.th) became the most recent among approximately 50 Asian banks to offer Internet based-services, and the site has approximately 2,000 hits monthly. However, Asian banks' foray into cyberspace are still constrained by a lack of bandwidth and problems with security. The Internet is an attractive market as 200 million people are forecasted to be online by the year 2000.

Siam Commercial Bank Ltd.

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Impressive improvements

Article Abstract:

Foreign banks in China are anticipating the opening of the Chinese deposit banking market that so far is restricted to domestic banks. Foreign banks are not able to take deposits or make loans in renminbi. The activities of foreign banks currently are restricted and mostly is limited to providing bill processing services. The Chinese government is expected to let a few foreign banks expand into the deposit market in 1998.

Regulation, Licensing, and Inspection of Miscellaneous Commercial Sectors, Banking Regulation, China, Banking law

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