HSBC Launches Digital Account Opening in Malaysia Following BNM’s New eKYC Regulation

HSBC Launches Digital Account Opening in Malaysia Following BNM’s New eKYC Regulation

by July 29, 2020

HSBC Malaysia announced the launch of its digital account opening service, claiming that it is the first bank to do so in Malaysia. However, the process is still not a fully digital one as it still requires customers to show up at its self-service machine for identification and verification process. The self service machine is said to be available 24/7.

This development follows Bank Negara’s Malaysia unveiling of a new policy document for eKYC in Malaysia which took effect in June 2020, this policy documents facilitates digital verification of customers which paves the way for digital account onboarding.

Tara Latini

Tara Latini

“Our digital features are constantly being improved to empower our customers to pick the best banking experience that fits their lifestyle. As customers’ preference continues to evolve, we continue to enhance our products and services to strengthen our relationship with them”

said Tara Latini, Country Head of Wealth and Personal Banking, HSBC Malaysia,

“The launch of this online account opening service and our recent launch of DuitNow QR are part of our vision of the future of banking – a blended approach where we serve our customers with the best of our digital world and our people.”

 

Featured image credit: HSBC

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