Hong Kong retail banks have to reshape their operations to meet the challenges arising from increased competition from non-bank institutions, advances in technology and changing consumer behaviour.
A report published by the Economist Intelligence Unit in conjunction with Coopers & Lybrand says that retail banks have to provide 'anytime, anywhere, anyhow' banking for customers in the next century.
Banks would likely see a drastic change in service delivery channels.
Banking would move away from branch-centred operations to a much wider range of avenues.
Remote banking, including transactions carried out on-screen, will be common. This includes automated teller machines, personal computers and television.
For face-to-face banking, the report forecast that express banking shops would emerge, offering basic services.
