Hong Kong e-banking users: Banks don't understand us

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Hong Kong e-banking users: Banks don't understand us
  
By Computerworld Hong Kong Staff | Sep 29, 2009

A survey of 505 Hong Kong online banking customers reveals that only 16 percent of respondents consider their banks fully understand their needs, said SAS Friday.
 
Conducted from May to June, 2009, by the University of Hong Kong Public Opinion Program on behalf of SAS, the survey gathered insights on Hong Kong banking customers’ usage patterns, satisfaction levels, and expectations related to online banking services.
 
In 2008, there were around 3.5 million online banking customers in Hong Kong; the number is forecast to grow to 4.2 million by 2011, said SAS. Yet the survey found that close to half of respondents are either dissatisfied (5 percent) or half-satisfied (42 percent) with customized online services currently offered by banks, SAS added.
 
“e-banking can be a powerful channel that enables banks to save costs and boost income,” said Cecil Ko, general manager of SAS in Hong Kong. “As the survey shows, consumer adoption of e-banking is correlated with customer’s on-line behavior and preferences. Personalization delivers a significant competitive advantage.”
 
Users demand personalized services
About 60 percent of survey respondents think they will be more satisfied if their banks provide more personalized services and information via online banking, said SAS. Of those, 66 percent think that with increased personalization they will more often use online banking services, the vendor added.
 
Asked whether or not they want certain kinds of personalized services, 50 percent of respondents welcomed immediate access to related information when checking a particular service, said SAS, adding that about 46 percent want tailored offers that meet their specific needs.
 
Respondents earning over HK$50,000 a month were more likely to think their banks understand their needs, SAS noted.