More than a third of Hong Kong consumers who
own a smartphone are conducting m-banking with the service proving
to be indicative of a bank’s ‘progressive’ strategy.
The Mobile Banking Perception Study conducted
by research company Synovate last month found 4% of Hong Kong
respondents are currently using m-banking.
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“Though usage of mobile banking seems low at
this time, given the current ownership of smartphones with the
ability to conduct mobile banking at 39%, and how recent mobile
banking was introduced to the market, this figure is not bad at
all,” said Cindy Chan, associate director of research for Synovate
in Hong Kong.
“We anticipate with more people owning
smartphones, there will be more people adopting mobile banking.
Findings show that of those surveyed who own a smartphone, 11% are
already using mobile banking.”
The study also found over 80% of respondents
perceives banks that offer m-banking to be “keeping up with
changing times and meeting their needs.” The younger segment of the
Hong Kong population are claimed to feel especially strong towards
banks that offer the service with 88% of those respondents aged
18-29 labelling these banks as ‘progressive’.
“These figures are strong indications that
availability of mobile banking creates an impact on consumers’
overall perceptions toward the banks,” said Chan.
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By GlobalDataSixty percent of Hong Kong consumers said they
would prefer to use a bank that offers m-banking services over
other banks that do not.
The study also looked into how to raise
consumers’ interest in adopting m-banking. Over 50% said ease of
usage and convenience would raise their interest levels for the
service with the other half more security-conscious, requiring
‘top-notch security protocols and programming’.
“Banks can be inspired by this information. In
their communications about their mobile banking offerings, they
should place further emphasis on the security aspects of their
services. Double password login, top of the industry encryption,
network access security and such, has an important impact on
persuading non-users to give mobile banking a try,” said Chan.
The Synovate Mobile Banking Perception Study surveyed 915 people
aged 18 to 64 residing in Hong Kong on mobile banking usage, their
perceptions on banks that offer mobile banking services, and what
would encourage them to use these services.
