Hong Leong Bank (HLB) has entered into a strategic partnership with WeBank Technology Services, a subsidiary of China’s digital bank, to advance its fintech and AI initiatives.

The collaboration aims to improve operational efficiency and deliver personalised financial solutions for HLB customers.

The partnership was formalised during a signing ceremony that also included WeBank Technology Services’ partners from Thailand, Indonesia, and Hong Kong.

Under the agreement, HLB will utilise WeBank Technology Services’ expertise to develop AI-powered automation tools and applications, enhancing productivity across various departments, including its salesforce.

The technology solutions will focus on data systems, marketing, and campaign management to improve customer offerings.

This partnership builds on HLB’s previous digital initiatives, including being the first bank outside China to accept Weixin Pay and the first in Malaysia to introduce eKYC for digital onboarding.

HLB has also leveraged AI in recent years, deploying AI voice bots in its collection operations, reporting a 15x productivity increase.

Kevin Lam, Group Managing Director and CEO of HLB, said,

“As a digital-first bank, we have already made significant investments in technology to ensure we provide seamless, innovative, and personalised financial solutions. This partnership perfectly complements our strategy.

It allows us to further accelerate our growth by leveraging their AI expertise to boost our operational efficiency and deliver even greater service excellence to our customers worldwide. By combining our strengths and shared commitment to innovation, we will unlock new possibilities for our customers and redefine the banking experience.”

Featured image: (From left to right) Andrew Jong, Managing Director of Personal Financial Services at Hong Leong Bank and Joe Chen, Director of WeBank Technology Services at the Strategic Partnership Signing Ceremony at WeBank Technology Services’ Hong Kong base