iMerchants, a Hong Kong-based e-commerce pioneer, is developing a virtual banking system for the JETCO automatic teller network which serves 49 different banks in Hong Kong and the region.
“We are creating a virtual ATM network which basically is an Internet banking system,” said Leroy Kung, managing director of iMerchants’ holding company, Motif Asia Ltd. “We are helping them move ATM functions such as account inquiry, funds transfer, bill payment on to the network.”
The system will also feature stock portfolios, real-time financial information, time deposit facilities, and certification of authority.
“In November, we brought out the new online information publishing system for the main board which includes not just the front end interfaces but the backend publishing automation,” added Kung.
“Once this Internet platform is established, different phases will be introduced to provide more and more online services for the banks and to the customers,” said Kung.
In 1996, iMerchants received good coverage in the regional press when it established the first Web banking system in Hong Kong.
According to Kung, 70 percent of iMerchants’ clients are financial institutions while the remaining 30 percent are general merchants in such areas as online shopping and ticketing systems.
The e-commerce solutions provider also has significant projects with the Bank of China and the Stock Exchange of Hong Kong.