Hong Leong Has Implemented Cashless Ecosystems at 16 Kota Kinabalu Schools
by Fintech News Malaysia December 7, 2022Hong Leong Bank announced that its ‘HLB@School’ programme has rolled out cashless ecosystems for 16 schools in Kota Kinabalu to date.
The programme provides cashless payments, digital banking tools and financial infrastructure to schools and students.
The students of these schools were equipped with the HLB 3-in-1 Junior Account, which comes with a savings account with fixed deposit, and a reloadable debit card that will allow them to make cashless payments in their schools.
They can buy meals at the canteen, pay their school fees, purchase books and more by tapping their debit cards at the POS terminals.
This ties in with the HLB Pocket Connect app, a simple mobile banking platform for students and their parents with Earn, Save and Spend features.
The app allows students to track their pocket money, expenditure and savings with their guidance of their parents.
Similarly, parents are able to manage and monitor their children’s bank accounts anytime, anywhere through the HLB Connect online and digital banking platforms.
Hong Leong Banks’ efforts to nurture financial literacy among students has gained recognition from the Payment Networks Malaysia (PayNet).
Jasani Abdullah
Jasani Abdullah, Chief Executive Officer of Hong Leong Islamic Bank said,
“Our ‘HLB@School’ program extends beyond just enabling the digital transformation of the schools. The more important objective is to drive financial literacy, encourage financial inclusion and inculcate environmental stewardship at a young age.
Furthermore, we are also very proud that this program has been adopted by so many schools in Kota Kinabalu and is recognised by PayNet, which is the enabler of the national payments network and shared central infrastructure for Malaysia’s financial markets.”
Azrul Fakhzan, Director of Card Services at PayNet said,
“We applaud HLB’s effort in educating and encouraging financial and digital literacy among young Malaysians, which is in line with PayNet’s aspiration for inclusive and accessible cashless payments to all Malaysians.”
