Wing Lung spends $10m on technical update
Wing Lung Bank has completed a $10 million upgrade of its Internet-banking services.
The upgrade enables its customers to transfer funds to third-party accounts, trade securities, buy and sell foreign currencies, and pay bills around the clock.
Wing Lung's NET Banking service was launched in December.
It offers account management, valuations for most of Hong Kong's residential estates, real-time rates for gold prices, deposit interest rates and loan interest rates via the Internet.
Wing Lung general manager Chung Che-shum said there were 'several thousand' customers using NET Banking.
'I believe Internet banking is the next trend. It will become more popular,' he said.
The bank plans eventually to expand its service to business customers, but Mr Chung declined to disclose development costs.
NET Banking uses an Internet security protocol called Secure Sockets Layer, but customers will have the option of Secure Electronic Transaction - considered more secure - probably by next year.
The Government must first establish a legal framework for electronic records and digital signatures.
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