SURVIVAL in the competitive world of personal finance is increasingly seen in the concept of the 'one-stop' financial institution.
Convenience is the key to the concept: a single point where customers can perform all their financial needs, from banking to share trading.
Banks, who dominate the personal finance market, have proved versatile in responding to the new trend in customer expectations.
As well as the traditional fare of deposits, loans, credit cards and mortgages, most banks in Hong Kong now sell a wide range of mutual funds.
And several, including Wing Hang Bank, have recently added general insurance policies to their line of products.
Wing Hang is one of the new joint owners of the London and Pacific Insurance Company, which was bought from First Shanghai Investments last month.
Director and deputy chief executive of Wing Hang Bank, Raymond Lee, said general insurance polices including policies that covered car, boat and household contents would soon be available.
