Date: 2 August 2000

Hongkong Post Develops Recognised Dah Sing Bank Digital Certificate for Dah Sing Bank to Support its Online Banking Businesses

At a press conference today (2 August), Hongkong Post and Dah Sing Bank signed a Memorandum of Understanding for the development of a recognised Dah Sing Bank Digital Certificate to provide secure online banking transactions in Hong Kong.

Hongkong Post established the Hongkong Post Certification Authority (CA) early this year, and continues to work for the wider application and utilization of the PKI (Public Key Infrastructure) technology. Dah Sing Bank, an active participant in Internet banking services strives to provide convenient yet secure online banking services to customers. Sharing the same vision to promote the online banking businesses in Hong Kong, Hongkong Post and Dah Sing Bank today signed a Memorandum of Understanding to develop a recognised Dah Sing Bank Digital Certificate for online banking services in Hong Kong.

The Dah Sing Bank Digital Certificate will be a new digital certificate product for Dah Sing Bank's customers. In its capacity as a recognised Certification Authority, Hongkong Post will, on a non-exclusive basis, develop and issue the Dah Sing Bank Digital Certificate. Dah Sing Bank will take the role to integrate the Banking Digital Certificate and tailor-made it for Dah Sing's customers. Hence, the Banking Digital Certificate will cater for all the online banking services that Dah Sing Bank provides.

With the Dah Sing Bank Digital Certificate, customers can carry out transactions securely and acquire various online services offered by Dah Sing Bank, including Internet banking and Internet share trading. The Certificate also enables Dah Sing Bank to develop other online applications that should be digitally signed and are protected by the Electronic Transaction Ordinance (ETO) in Hong Kong, such as online account opening. In addition, it can be used in all e-Cert applications including those under the Government's Electronic Service Delivery (ESD) project, e.g. rates and water charges.

Mr. P. C. LUK, Postmaster General, said, "Hongkong Post and Dah Sing Bank share the same vision to promote the use of digital certificates in the banking industry. The signing of the Memorandum of Understanding today signifies a close but non-exclusive cooperation between Hongkong Post and Dah Sing Bank in providing secure online banking services in Hong Kong."

Mr. Derek WONG, Managing Director of Dah Sing Bank, also said, "Online banking is a revolutionary development in banking services. With Hongkong Post's CA service, we are now able to leverage on the e-Cert development to offer multi-functional digital certificate to our customers. This new technology demonstrates Dah Sing Bank's continuous effort to enhance our business and customer value."