ABSTRACT

Dr William Lo, JP

Chief Executive Officer

Global Consumer Banking

Citibank Hong Kong / Macau

How technology will shape the banking industry in the next millennium

In this 20th century, services in the banks are always improving and changing - due to emergence of new technologies. Technology has definitely transformed and moulded banking institutions giving them increased avenues and opportunities to satisfy customers.

For example, in 1977, Citibank was the first bank in the world to popularize Automated Teller Machines (ATMs) for routine banking transactions. In the eighties, Citibank also became the first bank in Asia to offer telephone banking. In 1998, Citibank again scored a first - by being the first bank in Hong Kong to offer Internet Banking services.

The trend is likely to evolve continuously as we enter the new millennium. GartnerGroup, an IT research and consultancy firm has predicted that by 2003, the Internet will become the predominant mechanism for conducting business in US and Europe and the Asia Pacific Region in 2004. Consumer banking on the Internet is likely to pick up its momentum in the next millennium.

As we approach the turn of the century, internet technology continues to engulf us, impacting us in our everyday lifestyle. In today's dynamic economy, the busy executive demands efficient service and convenience to carry out his banking transactions.

From this presentation, you will be enlightened on how to optimise these new banking facilities to stay ahead of your competitors, without having to compromise on your security and reliability standards.

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