Hexagons Future With few exceptions PC based banking has not been very

Hexagons future with few exceptions pc based banking

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Hexagon’s Future With few exceptions, PC-based banking has not been very successful yet with retail customers (Heikkinen, 1997). Hexagon is now available to individual retail customers, however HSBC is still waiting for a “change in mood” in this sector. Of course, Hexagon is not an ordinary “PC home banking” product. Only the relatively small number of retail customers who perform a substantial number of international transactions may be interested in its sophisticated features. For retail customers most HSBC subsidiaries use the same Hexagon PC banking software that is provided to corporate customers, but other approaches are also being tried. First Direct, a UK unit of HSBC, is to launch a banking service using generic Internet browser software, such as Microsoft Explorer or Netscape Navigator, instead of the proprietary PC software. Customers, however, will have to dial a special number to gain access to the banking service, rather than connecting through the Internet (Graham, 1997). HSBC does not currently 27
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Impact of GIS on a Global Bank offer banking services over the Internet because of security concerns, although it has created a site on the World Wide Web for display at . HSBC and Microsoft Corp. have signed an agreement to link Hexagon to MS Money software (Reguly, 1997). Retail customers would use this for financial management as well as electronic banking. Customers would be able to execute electronic banking transactions, obtain account statements, reconcile accounts, prepare budgets and investment objectives, plan loan facilities and analyze cash flow, 24 hours a day (HSBC, 1996). HSBC is also looking into possibilities of interactive television. HEXAGON PERFORMANCE IMPACTS To understand Hexagon’s impact on HSBC we first look at its acceptance among HSBC customers. Secondly, we look at the way the Hexagon has affected performance at HSBC, both in terms of expected functional impacts of a global information system, revealed by our review of the literature, and in terms of resulting firm level performance impacts. Finally, we examine HSBC’s overall firm- level performance. Customer Acceptance Figure 3 shows how the number of corporate Hexagon accounts has grown over time since its 1985 introduction; most of the growth has occurred since 1990. In 1997 HSBC executives estimated that 50% of all electronic international corporate banking transactions worldwide are done through the Hexagon system which was by then being used by 80,000 individual corporate and retail customers in more than 79 countries (Graham, 1997). By comparison, an estimated approximately 50,000 individuals used the New Citibanking system as of 1998, according to John Conte, Citicorp, Head of Group Information Network. These figures may not be directly comparable, however, because some of the features of Citibanking and Hexagon are also provided by other Citicorp systems.
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