Hong Leong Bank Sets up Official Store on e-Commerce Platform Shopee
by Fintech News Malaysia February 8, 2021Hong Leong Bank (HLB) announced the launch of its e-commerce platform offering with an official store on Shopee Mall.
This enables HLB’s customers to sign up for banking products and services without the need to visit physical branches.
E-commerce experienced significant growth especially over the last year. Shopee reported a 38 million monthly average visit traffic and is one of the most visited e-commerce site in Malaysia, making e-commerce a major growth area for HLB in expanding its digital banking proposition.
HLB added that 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, HLB is looking to reach out and serve customers on e-commerce sites.
Domenic Fuda, Group Managing Director and CEO of HLB said,
Domenic Fuda
“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.”
Charles Sik, HLB’s MD of Personal Financial Services said,
Charles Sik
“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.”
Last October, HLB had launched its fully digital account onboarding through the ‘Apply@HLB’ mobile app that leverages on e-Know-Your-Customer (e-KYC) technology.
Featured image credit: edited from Freepik
