Kevin Lam, group managing director and CEO of Hong Leong Bank
KUALA LUMPUR: Hong Leong Bank Bhd
's HLB Connect App recorded 22% year-on-year growth in user base with significant increases in the volume and value of financial transactions conducted through this platform.
Hong Leong Bank group managing director and CEO Kevin Lam said the results were encouraging and is testament to the bank's brand promise of "Built Around You", where the bank focuses on the evolving needs of customers and the communities by simplifying banking through digital innovation and complementing their lifestyles and life cycles.
"Expanding our customer base and usage on our digital banking platforms goes beyond building a sophisticated banking app.
"It starts with having a deep understanding of our customers and the communities we serve, by listening to them and being on the ground to observe how they interact with banking and digital tools," he said in a statement in conjunction with the bank's annual HLB Connect Day.
“Take wealth management as an example. We want to make wealth management simple and accessible to all customers by empowering them to achieve their personal financial goals.
"To this end, we recently introduced a wealth management tool within HLB Connect which allows customers to effectively self-manage their financial resources with access to real-time market insights, track investments, and make informed decisions anytime, anywhere."
According to Lam, the banks has also taken into account insights of what parents look for when it comes to savings accounts for their children.
“We were able to grow our 3-in-1 Junior Account users by a remarkable 127.6% y-o-y, which also led to the growth of our HLB Connect mobile app users because we reimagined and innovated our offerings to cater to parents of a digital native generation," he said.
Hong Leong Bank managing director of personal financial services Andrew Jong said there was immense value in being on the ground to assist customers and communities, especially in underserved areas, to adopt digital banking.
"During the implementation of our initiative to transform Sekinchan into a Cashless Kampung, we noticed that while the microbusiness (MSME) community understood the importance of having cashless payment options, they were concerned over their ability to handle the necessary digital tools.
"To help them transition with ease, we deployed our team to engage and listen to their challenges and help them use our cashless payment solutions with confidence,” said Jong.
Meanwhile, the bank also encourages its customers to provide feedback and suggestions on new features for the HLB Connect App through its "Designed By You" platform.
"Customer-centricity is not just a buzzword; it is the foundation of our approach to innovation and growth. Our success as a bank lies in our ability to build offerings that truly meet the needs and desires of our customers," said Lam.
As a reward for its customers for embracing the digital banking lifestyle, Hong Leong Bank said it will have special offers throughout the month of July including over RM1mil in cashback, rewards, and exclusive rates.
Customers who sign up for the HLB Wallet, the Bank's newly launched multi-currency eWallet, will have a chance to win more than RM500,000 in cashback.
Additionally, eligible transactions conducted through the HLB Connect app qualify for over RM300,000 in cashback.
