Selling internet banking in Asia.doc

Selling banking in Asia
Although concerns about security have impeded the expansion of Asian banking, some evidence suggests that it will do well if the basic features—especially bill payment—are handled correctly.
MEHMET PASA AND MIKE SHERMAN
The McKinsey Quarterly, 2001 Number 2 On-line tactics
Will banking ever take off in Asia? Although much of the region is wired, obstacles remain. Customers are concerned about security; the banking products available so far tend to be unexciting; and in the wake of Asia's recent economic crisis, many smaller banks have been upied with the more urgent issue of survival. But some evidence suggests that on-line banking will eed if the basic features, especially bill payment, are handled correctly.
Meanwhile, human tellers and automated teller machines continue to be the banking channels of choice, and only a tiny minority has recourse to banking. Among middle- and high-e people questioned in a McKinsey survey, only percent reported banking over the last In India, Indonesia, and Thailand, the figure was as low as 1 percent; in Singapore and South Korea, it ranged from 5 to 6 percent.
Overall, banking accounted for fewer than percent of these customers' banking transactions—a figure unchanged from 1999. (By contrast, telephone transactions have doubled since then, to percent.) The is used more often for openi