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Advertorial
Online but offshore
Seventy per cent of
expats use the internet on a regular basis and forty
two per cent say they spend more than an hour a day
using the web*. Richard Fray, Channel Manager at HSBC
Bank International, investigates.
Not only is the internet revolutionising
the way people interact with each other but it is also
affecting the way people manage their finances. Banks
are effectively responding to these trends, ensuring
they provide market-leading online offers and implementing
state-of-the-art security and online developments.
The internet is providing customers with a wide range
of information and customers are now better equipped
in choosing online bank accounts, products and offers
that suit their personal circumstances. With customers
in more than 200 countries, HSBC Bank International
recognises this need more than most and provides its
customers with individualised services that cater for
their specialised needs. Its state-of-the-art website
allows customers to do everything they’d expect
to be able to do face-to-face such as reviewing account
details and statements online, transferring funds between
accounts to any bank worldwide, reading secure, personalised
messages sent by the bank, paying multiple bills and
setting up standing orders.
Statistics in the UK show that online banking usage
has increased by 174 per cent in total, from 6.2 million
in 2001 to 17 million in 2006**. This trend is pushing
banks to develop their online offer and in April 2006,
HSBC Bank International was the first bank to launch
an online service enabling customers to view their accounts
and perform transactions while remaining in the bank’s
main website, www.offshore.hsbc.com.
This new tool, at the forefront of retail banking, means
that customers’ needs are taken care of within
an individually-tailored site, with pre-filled forms,
personalised offers and product information being displayed
alongside transactional information.
Social networking sites such as Facebook, MySpace and
Friends Reunited are growing in popularity and have
a strong potential to transform the lives of those living
in the expat community. Last November, HSBC Bank International
launched an Online Premier Innovation Centre, enabling
the bank to gather views from its customers about their
service requirements by providing interactive demos
of new ideas and collating feedback via online surveys.
This innovative approach to customer relations has led
to initial tests of customer appetite for an online
community where expats are able to exchange ideas and
information and receive online advice from specialist
financial experts.
“Many of us have lived and worked abroad ourselves
and understand the importance of belonging to a community,”
commented Richard Fray, Channel Manager at HSBC Bank
International. “Managing finances while being
abroad can be a daunting prospect. With this in mind,
we wanted to explore developing a space where our customers
can gather information, receive tips and advice from
financial experts and talk to people in similar circumstances
around the world.”
With expats spending more time on the internet, banks
are looking at ways to simplify the way they manage
their finances. The Premier Lounge Online, recently
launched by HSBC Bank International, is one example.
Exclusively available to Premier customers, the Premier
Lounge delivers personalised, secure and relevant content
to make managing customers’ finances easier.
The internet is rapidly changing the way we bank and
has become a financial lifeline for expats all over
the world, and HSBC Bank
International will continue to lead
the way for its customers through product innovation
and technical expertise.
Along
with functional innovation, security is the main
consideration for all customers and it is essential
for banks to stay one step ahead of potential fraudsters.
With this in mind, HSBC Bank International is looking
at ways to reinforce its security system using ‘multi-factor
authentication’, whereby customers are required
to provide additional ways of establishing their
identity, such as confirming a random number or
personal details by telephone. Until then, here
are some tips to ensure customers can protect themselves:
• Customers should
never give out their Internet Banking username
or password, even to a family member or close friend.
• Customers should use a
combination of upper and lower case letters and
numbers as their password. They should not use publicly
available information such as the names of their
children, birthdates, mother's maiden name, phone
numbers, etc.
• Their password
should be unique - ie they should not use
the same password for another account.
• Never respond
to an email asking for any personal or account information.
HSBC never asks for this information.
• Customers should regularly
log in to Internet Banking to become familiar with
their account balances, money movements and charges
to their credit card/debits to their debit card.
If there is anything unusual, they should contact
the bank immediately.
• Internet cafes - don't
use them to log into your account. There could be
spyware or keyloggers installed on the computer.
• Customers should install
anti-virus and anti-spyware software onto their
computers and ensure that it is regularly updated.
• Don't open emails from
people you don't know / trust and don't download
any attachments without first scanning them. Trojans
(malicious programs) can be placed on to the computer. |
*Quote
from Alliance and Leicester research – Sept 07
**APACS - the UK payments association survey –
2001 to 2006
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