August 3, 2021

Hong Leong Bank Marks First Bank in Malaysia with Store on An E-Commerce Platform

KUALA LUMPUR, Malaysia, Feb. 8, 2021 /PRNewswire/ — Hong Leong Bank (“HLB” or the “Bank”) announced a new milestone in becoming the first bank in Malaysia to have an e-commerce platform offering, with the launch of its official store on Shopee Mall. This enables customers to sign-up for banking products and services anytime, anywhere without the need to visit physical branches.

HLB launches Official Store on Shopee Mall

HLB’s official store is part of the Bank’s journey in fully providing digital banking solutions to meet the rising digital consumption. Last October, the Bank launched the country’s first fully digital account onboarding through mobile app ‘Apply@HLB’, that leverages on e-Know-Your-Customer (“eKYC”) technology.

Domenic Fuda, Group Managing Director and CEO of HLB said, “The Bank’s digital-at-the-core strategy has helped in reimagining banking experiences, leading us to focus on a digital growth trajectory to make banking much more accessible and improve customer experiences. The success of eKYC has set the foundation for us to explore new opportunities in better serving customers on digital-only channels.”

E-commerce experienced significant growth especially over the last year. Shopee reported a 38 million monthly average visit traffic and is the most visited e-commerce site in Malaysia. Thus, making e-commerce a major growth area for HLB in expanding its digital banking proposition.

Charles Sik, HLB’s MD of Personal Financial Services said, “Offering banking products on e-commerce is a natural progression for us as customers shift their spending and consumption behaviour online. We are excited to have a presence on this platform where customers can open a HLB account without visiting our other channels. As a start, we are offering bank accounts with other types of banking products coming in the near future.”

Galvin Yeo, HLB’s GM of Personal Financial Services for Deposits & Digital added, “Malaysians have developed a natural proficiency in navigating e-commerce platforms with the shift to digital and mobile-first lifestyles. The banking industry is playing catch up in the digital game considering you can get most essential items online or via e-commerce. With 9 out of 10 new digital consumers intending to continue using digital services post-pandemic, we are excited to reach out and serve customers on e-commerce sites. This will also challenge the Bank to constantly update and innovate our offerings to be exciting and relevant.”

For more information, please visit the Hong Leong Bank Official Store on Shopee Mall at https://shopee.com.my/hongleongbank.os

SOURCE Hong Leong Bank

CONTACT: Vivian Tan, +60-3-2777-1914