HSBC Predicts Internet Banking Growth. Shock Horror.

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In an interview with Gulf News, an executive from HSBC has predicted a rising trend in the adoption of technology. This is the kind of insight we have come to expect from the bank that knows in Beijing bicycles are a mode of transport, while in Dubai they're used in the gym.

The interview goes on to tell us that mobile technology adoption is on the rise, while m-commerce "is good news for consumers who will experience the benefits of greater convenience and ease of access."

Astounding. It's like Paulo Coelho's entire body of work squeezed into a single, punchy sentence. I could feel my life changing as I read that. I had never before considered the possibility that mobile commerce would allow greater convenience and ease of access. It's one of those moments, you know the ones when the world suddenly seems, well, a little different. Something has shifted. Something has changed.

Apparently HSBC has a mobile banking solution, which was launched on the UAE Apple app store in November 2011. It's also available on Android and BlackBerry. That's news to me, but I'm just one of their customers so see no reason why I would be told. The application, developed by Montise, allows account access, balance, movement of funds between accounts and bill payments. All you need is your Internet banking PIN, password, memorable information and your HSBC Secure Key (which is a small hardware device designed to make Internet banking more frustrating than it need be).

HSBC has apparently conducted research on the factors inhibiting the adoption of Internet banking. While that research is alluded to in Gulf News' piece, the results are not. We are told merely that a third of HSBC's customers are using Internet banking, while half of those are inactive.

I'm one of the inactive ones. I couldn't remember all the usernames and passwords for phone banking and Internet banking both. Username, password, the sequenced genome of a pipistrelle bat, six digit PIN, memorable information, ten digit phone banking identification matrix, internal diameter of a six tonne bow thruster, date of birth, the names of six different violent mammals, secure key entry. I don't even have a secure key. Sarah does. She loathes it with a passion. I wonder if perhaps the sheer richness and complexity of information required to access these services would not count perhaps as one of the inhibitors? My real bank just wants an Internet banking account number and password and hey presto, I'm in.

The study, apparently, revealed that it was important for HSBC to raise awareness about the benefits of online banking.

I can't wait.