UOB Kay Hian positive on Hong Leong Bank fintech initiatives


KUALA LUMPUR: UOB Kay Hian Research maintained its Buy recommendations on Hong Leong Bank, Tune Protect Group and Syarikat Takaful Malaysia Bhd which are all actively developing their respective fintech and insurtech platforms.

The research house said on Monday that within its financial sector coverage, Hong Leong Bank was developing fintech platform, while Tune Protect and Syarikat Takaful were developing their insurtech platforms. 

It noted that Hong Leong Bank is the pioneer in implementing cognitive banking in Malaysia in partnership with IBM Watson. 

“This combines a machine learning interface and big data analytic, and paves the way for more

customised products and faster customer servicing turnaround time. 

“Among the insurance companies, both Tune Protect and Syarikat Takaful are applying both big data analytics and dynamic pricing to improve pricing and provide a greater suit of products on its online channels,” the research house said.

UOB Kay Hian had recently hosted a fintech day with WORQ, which is Malaysia’s only productivity community and one of the four Digital Hubs under the Malaysia Digital Economy Corporation (MDEC) initiative .

The event had speakers from a diverse background of startups and banks, covering topics including fintech companies (under the Bank Negara regulatory sandbox), equity crowdfunding in Malaysia as an alternative investment, and how Blockchain may change the banking landscape. 

The research house noted that its Buy calls including Hong Leong Bank were some of the players that were staying ahead, by incorporating fintech initiatives to transform the traditional business model.

Subscribe or renew your subscriptions to win prizes worth up to RM68,000!

Monthly Plan

RM13.90/month

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
   

Next In Business News

Rate cut bets boost stocks as bitcoin breaks US$100,000
Malaysia to benefit from broad-based tariffs imposed by US in near term - MARC Ratings
UOB projects 4.7% GDP growth for Malaysia in 2025, driven by strong domestic levers, investments
T7 Global unit bags Petrofac contract
Deleum acquires 70% stake in Indonesian machinery firm for RM31mil
Dialog secures RAJA Cluster SFA production sharing contract
FBM KLCI sees early gains erased on profit-taking
PETRONAS awards four new production sharing contracts under Malaysia Bid Round 2024
Bitcoin tops US$100,000 on optimism over Trump crypto plans
Fertiliser producer Cropmate rises 22.5% on ACE Market debut

Others Also Read