The Bank of East Asia, Limited (Hong Kong, China)
Digital Branch: A New Way to Bank

To appeal to young, tech-savvy consumers and to perfect its omni-channel offerings, The Bank of East Asia, Limited (BEA) launched a highly flexible and mobile digital branch that operates as a paperless, straight-through model. The digital branch has a footprint of just half the floor space of a traditional branch, and takes only 13 days to renovate and install. The branch contains a much smaller back-office area and requires reduced manpower, enabling BEA to open in high-footfall luxury shopping malls.

The digital branch is equipped with a suite of innovative, next-generation banking tools developed in-house at BEA, which use advanced technology to streamline services and improve efficiency. These devices include an interactive touch-screen (i-Counter) that converts to a video interface (i-Teller), providing direct communication with remote-site service staff and enabling transactions and applications 7 days a week from 9am-8pm. Other devices include an all-in-one interactive aide for financial planning (i-Window), credit card self-application (i-Zone), automatic completion of forms using OCR and digital signatures (i-Kit), and a browser for downloading products and documents (i-Panel). The digital branches have yielded a 35 percent rise in deposit balance per customer, and a 65 percent increase in average mortgage drawdown compared to other branches.