The latest survey by the Hong Kong Association of Banks' Digital Banking Public Education Task Force shows that both individuals and small and medium-sized enterprise (SME) respondents have significantly increased their trust in digital banks. Over 97% of individual respondents and over 99% of SME respondents are satisfied with the security measures. Additionally, users' awareness of digital banks has also significantly strengthened.

The Task Force mentioned that over 80% of individuals and 92% of SMEs believe they have some understanding of digital banks, no longer limited to basic services like deposits. They believe that collaboration among digital banks will enhance public awareness of the financial technology and service level of Hong Kong's digital banking sector, thereby boosting public confidence.

A spokesperson for the Banking Association's Digital Banking Public Education Task Force stated that digital banks, like traditional banks, are subject to strict supervision by the Hong Kong Monetary Authority, and customers are also covered by the deposit protection scheme. Starting from October, the deposit protection limit has been raised to 0.8 million Hong Kong dollars.

The spokesperson also highlighted that digital banks are committed to maintaining a high level of information security, including using advanced encryption technology and 24/7 real-time monitoring. Through ongoing public education, enhancing customers' premium experience, and the recent renaming of virtual banks to digital banks, the positive perception of digital banks among the public will be further strengthened, laying a solid foundation for the industry's future development.

The Task Force commissioned the School of Communication of the Hong Kong Baptist University to conduct a survey in the form of an online questionnaire from July 31 to August 8 this year, interviewing approximately 1,000 individual respondents and about 200 SMEs to understand the public's awareness and impression of digital banks, as well as their usage habits.