The app offers a number of features like FastTrade, which allows customers with a securities sub-account to instantaneously trade stocks via a password-protected process. AnalysisTools provides information in the form of technical charts and analysis, while StockWatch displays profit and loss updates – a feature which permits users to monitor a customised portfolio of stocks.

“With the ability to trade instantly wherever they are using the BEA iPhone app, customers can capitalise on investment opportunities more effectively,” said Vincent Hui, head of channel management and operations department at BEA.

The mobile application revolution is still in its first stages of development in the banking industry, as concluded by the authors of the Mobile Apps For Banking report by MyPrivateBanking. For example, two-thirds of the world’s largest banks offer just basic apps, and some global banks still offer no apps at all for private clients, as reported by WealthBriefingAsia here.

There are winners and losers. Deutsche Bank, Caisse d'Epargne and Bank of China excelled in the recent MyPrivateBanking study, which evaluated the world’s top 50 mobile banking apps.

France’s Caisse d’Epargne and Germany’s Deutsche Bank were both awarded 50 out of 60 points, as their apps outperformed 200 others. US banks lagged behind their European peers, the study showed. 

BEA has consolidated assets of HK$598 billion ($77 billion) as of 30 June.