05-10-2007 11:17

Banks in China are joining forces to ease the pressure on their outlets. The Industrial and Commercial Bank of China and Standard Chartered Bank both announced on Wednesday that more electronic banking solutions will help customers to do their banking transactions from home or at their work place over the internet.

The Industrial and Commercial Bank of China has updated its e-banking system. New services include on-line sales of certificate bonds, on-line transfers and remittances, and card payments. Now, customers no longer have to wait in queues at the bank's outlets to buy certificate bonds; they can make their purchases via e-banking. Meanwhile, Peony International Card users can also use the Internet Banking system to carry out transfers and make remittances abroad. And drivers with the new Peony Express Card can pay their fines at ATMs. Mobile banking users can make transfers, remittances and bill payments by sending instructions through their mobiles.

"We aim to encourage customers to get into the habit of using self-service machines. They no longer have to stand in queues to do most of their day to day banking business now. At the same time, we are offering preferential policies ...customers buying funds online can enjoy a 20 percent discount on their fees, says ICBC customer services manager.

Standard Chartered Bank is also establishing an e-banking platform, but it will be serving corporate users. Medium and small sized enterprises can make cash transactions or other financing business on the Internet. Meanwhile, Standard Chartered is planning to set up the largest bank data processing center by a foreign bank in Tianjin City. The center will provide support for the fast developing Chinese customers' demand for global businesses.


Editor:Chen Ge