Hong Leong Bank digital banking platforms tout strong growth
By Digital News Asia July 7, 2023
- Its app saw a 22% YoY growth in user base
- Volume and value of transactions increased by 26% and 39%, respectively
Hong Leong Bank (HLB) shared its digital banking platform's annual growth in conjunction with its annual HLB Connect Day to mark the new financial year.
As of May 2023, the HLB Connect App has seen a 22% year-on-year (YoY) growth in user base, whereby the volume and value of financial transactions conducted through the app increased by 26% and 39%, respectively.
"We were able to grow our 3-in-1 Junior Account users by a remarkable 127.6% YoY, which also led to the growth of our HLB Connect mobile app users," said Kevin Lam (pic left) , Group Managing Director and CEO of HLB.
Andrew Jong (pic below right), the Managing Director of Personal Financial Services of HLB, shared the value of having the bank on the ground to assist customers and communities, especially in underserved areas, to adopt digital banking.
"For microbusiness, we have rolled out the BizBuddy merchant app, which enables them to receive payments via DuitNow, WeChat Pay QR Code and cross-border QR payments from Singapore, Thailand and Indonesia travellers. Our 'Tap On Phone' solution allows small business owners to turn their NFC-enabled Android smartphones into their payment terminal," he added.
Considering that customers want immediate access to block their accounts when they suspect they have fallen prey to scams, the bank has placed the Emergency Lock feature on the login screen of HLB Connect.
HLB Connect Day 2023 falls on 7 July. To celebrate, HLB will have special offers throughout July, including over US$214,000 (RM1 million) 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 over US$107,000 (RM500,000) in cashback. Additionally, eligible transactions through the HLB Connect app qualify for over RM300,000 in cashback.
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