The Bank of East Asia and Mastercard capitalise on partnership as they advance towards a digital economy
- The collaboration sees the launch of new products and services that simplify the digital banking experience for customers
- The Bank of East Asia and Mastercard are confirming their commitment to a sustainable future through the Priceless Planet Coalition
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As the global economy continues to shift towards digitalisation, the banking sector is adapting its services to meet the changing needs of digital-savvy consumers.
A 2021 year-end survey by McKinsey revealed significant changes in customer behaviour and services offered by banks. It found that a wide range of people from different age groups and income levels were adopting online banking, with 85 per cent of respondents saying they would increase their use of digital banking services after the pandemic, reflecting the need for traditional banks to transform their services to meet the demands of the digital age.
In response to this demand, the Bank of East Asia (BEA) and Mastercard are leveraging their partnership to introduce a range of new products and services. At the core of this collaboration is the desire to build a strong, digital platform that will spur the transition of both companies towards the digital economy, while simultaneously providing a faster, more convenient and more secure experience for their customers.
Shirley Wong, general manager and head of personal banking division at BEA, says the partnership not only contributes to the growth of the bank’s customer base, it also aligns with its commitment to support Mastercard’s sustainability objectives. “Digitalisation is a core element of BEA’s long-term strategy,” she says. “Through this partnership, BEA is elevating its online platform and delivering a seamless digital experience to our valued customers.”
