Global success with electronic banking: The Hongkong Bank and HEXAGON

The recent performance of the banking industry has been mediocre despite (or perhaps because of) a massive investment in information technology, Globalization initiatives within the industry have been particularly susceptible to failure. This article describes the unique success of the Hongkong Bank and focuses on the strategic support provided by its private electronic banking system. Using this system, this bank has leveraged its reputation and infrastructure in the developing economies of Asia to rapidly become a major international bank without developing an extensive new branch network. The benefits of the HEXAGON system and its impacts on international banking are discussed.