Probably Hong Kong is the only place in the world where there is a separate definition for the notion of digital bank. And what do we mean under mobile bank and netbank? A sales channel, just like sales in the branches, but of course in a different way.
Large banks want to appeal to all, which makes them increasingly large, making way for the newest, challenger banks. Time will tell what is better in the long run: a baby changing facility in the corner of the branch or the pushy, but always available digital service. For the time being, based on the profit figures of the British challenger banks, the baby changing facility appears to be the winner (all British digital banks are loss making), but we believe that digitalisation is an imperative necessity and it will come in handy for the branch staff as well.