Bank of China Hong Kong – Digital Transformation Strategies
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Bank of China Hong Kong – Digital Transformation Strategies Overview
Bank of China Hong Kong (BOCHK) has been focusing on emerging technologies as a part of its digital transformation strategies. The annual ICT spending of Bank of China Hong Kong was estimated at $584.5 million in 2022. A major share of this spending is earmarked for acquiring software, ICT services, and hardware from vendors. Bank of China Hong Kong (BOCHK), a subsidiary of Bank of China, offers a range of banking, insurance, and other financial solutions. Its product offerings include credit cards, debit cards, time deposit accounts, business accounts, savings accounts, foreign currency savings accounts, mortgage, business loans, and personal loans.
Total ICT Spending 2022 | $584.5 million |
ICT Spend by Function | Communications, Data Center, Network, Application, End-User Computing, Service Desk, and Management |
ICT Spend by Channel | Internal Development and Maintenance, Technology Vendors (Direct), Local Resellers, Telcos, ICT Services Providers/Consulting Firms, Specialist Outsourcers, and Systems integrators |
External ICT Spend by Segment | ICT services, Software (including Cloud SaaS), Hardware (including Cloud Iaas), Network and communications, Consulting, and Others |
Technology Theme Focus | Artificial Intelligence, Big Data, Blockchain, Cloud Computing and Payments |
The Bank of China Hong Kong Digital Transformation Strategies report will act as a reference point to understand a company/competitor’s digital strategy. It will also help in understanding the digital preparedness of the company against its peers. Information included in these reports are sourced from a mix of our very own internal database and authentic secondary research links such as company’s annual report, presentations, press releases etc. The report covers overview of the company, its digital transformation strategies, technology focus areas, technology initiatives, technology introductions, ICT spending among others.
Digital Transformation Strategies
In line with its digital strategy, BOCHK is deepening its application of innovative fintech technologies and accelerating digitalization of its business processes to improve operational efficiencies. Its digital transformation is driven by its established digital transformation blueprint, which focuses on five key digital capabilities of innovation, agility, data application, mobility, and regionalization.
To gain more insights on digital transformation strategies and initiatives of Bank of China Hong Kong, download a free report sample
Bank of China Hong Kong Technology Theme Focus
Bank of China Hong Kong is utilizing number of emerging technologies including artificial intelligence, big data, blockchain, cloud computing and payments to improve operational efficiency and enhance customer experience.
Bank of China Hong Kong Technology Focus
To know about other technology themes under focus for the company, download a free report sample
Bank of China Hong Kong Technology Initiatives
Bank of China Hong Kong has been involved in several strategic technology partnerships and collaborations, technology developments and roll outs over the past few years. For instance, BOCHK announced a pilot initiative allowing customers to open a bank account over mobile banking using iAM Smart, a mobile application launched by the Hong Kong SAR government, by leveraging facial recognition technology. The adoption of iAM Smart in digital identification further enhances the mobile account opening service of BOCHK.
For more insights on other technology initiatives of Bank of China Hong Kong, download a free report sample
Bank of China Hong Kong ICT Spend by Function
- Communications
- Data center
- Network
- Application
- End-user computing
- Service desk
- Management
Bank of China Hong Kong ICT Spend by Function, 2022
For more insights on ICT spending by function, download a free report sample
Bank of China Hong Kong ICT Spend by Channel
- Internal development and maintenance
- Technology vendors (direct)
- Local resellers
- Telcos
- ICT services providers/Consulting firms
- Specialist outsourcers
- Systems integrators
Bank of China Hong Kong ICT Spend by Channel, 2022
For more insights on ICT spending by channel, download a free report sample
Bank of China Hong Kong External ICT Spend by Segment
- ICT services
- Software (including Cloud SaaS)
- Hardware (including Cloud Iaas)
- Network and communications
- Consulting
- Others
Bank of China Hong Kong External ICT Spend by Segment, 2022
For more insights on external ICT spending by segment, download a free report sample
Scope
This report provides:
- Insight into Bank of China Hong Kong’s technology activities.
- Insights of its digital transformation strategies and technology center & innovation program.
- Overview of technology initiatives covering product launches, and partnerships.
- Insights on each technology initiative including technology theme, objective, and benefits.
- Details of estimated ICT budgets and major ICT contracts.
Reasons to Buy
- Gain insights into Bank of China Hong Kong’s technology operations.
- Gain insights into its technology strategies and innovation initiatives.
- Gain insights into its technology themes under focus.
- Gain insights into its various product launches, and partnerships.
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Table of Contents
Frequently asked questions
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What was the total ICT spending of Bank of China Hong Kong in 2022?
The annual ICT spending of Bank of China Hong Kong was estimated at $584.5 million in 2022.
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Which was the leading ICT spending category by function for Bank of China Hong Kong?
Data center was the leading ICT spending category by function for Bank of China Hong Kong in 2022.
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Which was the leading ICT spending category by channel for Bank of China Hong Kong?
Internal development and maintenance was the leading ICT spending category by channel for Bank of China Hong Kong in 2022.
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Which was the leading external ICT spending categories by segment for Bank of China Hong Kong?
Software (including cloud SaaS and PaaS) was the leading external ICT spending category by segment for Bank of China Hong Kong.
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What are the key technology themes in focus for Bank of China Hong Kong?
The key technological theme in focus for Bank of China Hong Kong are artificial intelligence, big data, blockchain, cloud computing and payments.
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