HSBC has opened an Internet-only bank in Taiwan that offers higher interest rates on deposits, hoping to lure new customers to the no-branch model.

Since the bank opened in late September, 80% of the customers opening accounts are new to HSBC. About half of all customers are between the ages of 25 and 35, but they only account for 30% of the deposits. Roughly 13% of the accounts belong to customers over the age of 45, and they account for more than half of the deposits.

Source: BankNet 360 – HSBC Launches Internet-Only Bank in Taiwan