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Essay / Research Paper Abstract
This 6 page paper discusses Online banking in the United Kingdom with an emphasis on HSBC Holdings plc. The paper reports the different data regarding the number of people using the Internet for different financial transactions and the forecasts for the future. The writer also provides an overview of HSBC Holdings plc. The risks associated Online banking are discussed. Some statistical data are included. Bibliography lists 12 sources.
Page Count:
6 pages (~225 words per page)
File: MM12_PGhsbc.rtf
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Unformatted sample text from the term paper:
British imperial trade in opium, silk, and tea in East Asia (Hoovers, 2005). The bank soon opened an office in London and created a network that focused on China and
East Asia (Hoovers, 2005). They moved to London permanently in 1991 (Hoovers, 2005). It has come a long way since then HSBC Holdings plc is the largest banking company in
the United Kingdom and one of the largest in the world (Caione, 2005; Wikipedia, 2005). HSBC has 9,800 offices spread across about 80 different countries (Caione, 2005). It provides "consumer
and commercial banking services, credit cards, asset management, investment banking, private banking, securities trading, insurance, and leasing" (Caione, 2005). It has grown through acquisitions, mergers, self-expansion and diversification (Caione, 2005).
HSBC has numerous subsidiaries operating across a number of countries (Caione, 2005). A momentous event occurred in 2000 when HSBC and Merrill Lynch entered a "groundbreaking 50:50 partnership to create
the first global online banking and investment services company" (Merrill Lynch & Co., Inc., 2000). The new company will offer services to individual customers across the globe, except in the
United States (Merrill Lynch & Co., Inc., 2000). Together, these two companies will provide "the industrys most comprehensive and innovative range of online banking and brokerage services for consumers who
prefer to make informed investment decisions for themselves" (Merrill Lynch & Co., Inc., 2000). HSBC calls itself "the worlds local bank" (HSBC, About, 2005) and writes that it has growing
e-commerce capabilities (HSBC, About, 2005). In fact, in 2004 alone, the bank spent over US$4 billion on information technology (HSBC, Fast, 2005).This institution has 110 million customers and more than
253,000 employees worldwide (HSBC, Fast, 2005). HSBC also has 18 million customers registered for Online banking (HSBC, Fast, 2005). Online banking is not really a new concept, it has been
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