HSBC: Younger Clients Driving Mobile
The habit of using mobile devices for financial transactions is outpacing internet banking, a survey in Hong Kong reveals.
More Hong Kong companies than ever are using mobile devices to manage their businesses. Close to 70 percent now prefer mobile to internet banking on personal computers, according to the Digital for Business Market Study 2018 report from HSBC.
People under 40 are driving digital adoption, with 51 percent of them using mobile devices for business. The study also showed 63 percent of the respondents believe the use of biometric authentication is more secure than passwords.
Embracing Data
The greatest attitude change the survey has found was in the use and collection of data, implying companies are paying more and more attention to data in business. Despite recent high profile scandals such as the Facebook and Cambridge Analytica affair.
Forty-two percent of respondents felt data collection and digital applications is the aspect that will benefit them most, a six-fold increase from just 7 percent in 2016.
«In the digital era, Hong Kong companies are expanding their supply chains to conduct business all over the world,» said Terence Chiu, HSBC's head of commercial banking in Hong Kong. «Smartphones and tablets enable them to manage their business anytime and anywhere,» he added.
