Internet banking in Hong Kong has reached another milestone asthelocal banking consortium Joint Electronic Teller Services Ltd.(JETCO) became the first Internet certification authority in theSpecial Administrative Region (SAR).
Following the completion of a major system integration projectledby global computing and Internet provider Hewlett-Packard (HP),JETCOwill be able to provide its member banks with digital certificatesfor web-based transactions, thus giving customers complete assurancethat their home banking transactions are secure, according to HPHongKong today.
At the same time, JETCO will offer member banks a "virtual ATM"service that duplicates the look-and-feel of the banks' physicalATMson their customers' PCs, enabling them to offer a customized homebanking service without large-scale investment in new hardware orsoftware.JETCO Chairman Chung Che-shum described this as "another majormilestone" in Hong Kong's history as a world-renowned financialcenter."By becoming a certification authority, we are able to helpvirtually all of the SAR's retail banks to enter the on-line age inone fell swoop," Chung said.Established in July 1982, JETCO began operations in August 1983.It now has 49 member banks and operates more than 1,500 ATMs in HongKong.
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