KUALA LUMPUR: Hong Leong Bank Bhd (HLB) and Hong Leong Islamic Bank have become today the first banks in Malaysia to offer a "truly digital onboarding experience" for Malaysians looking to open a bank account.
Following the publication of Bank Negara Malaysia's guideline on Electronic Know-Your-Customer (eKYC) on June 30, HLB said customers only need to download "Apply@HLB" mobile app to open an account and their debit cards will be delivered to them wherever they are in Malaysia.
"This simple, hassle-free and convenient way of banking is timely given the ongoing Covid-19 health concerns and corresponding shift to digital 'everything'," it said.
HLB group managing director and chief executive officer Domenic Fuda the bank was pleased to be able to help Malaysians bank safely amid the Covid-19 pandemic.
Fuda said this would further stimulate the growth of the country's digital economy while meeting the needs and expectations of an increasingly digital and mobile-first generation of consumers.
"Based on our data, we have seen a significant shift to digital banking over the past seven months. Expanding our digital offerings to the first of its kind digital account opening through eKYC will further propel the move to digital banking.
"Not only are we excited to be the first Bank in Malaysia to deliver a truly digital onboarding journey with zero physical branch visit required, we also hope that this will deliver a significantly higher value-added customer experience which will set a new benchmark for the industry," said Fuda.
According to HLB, with the 'Apply@HLB' app, opening a bank account can be done in three simple steps.
Customers only need to have their MyKad in hand.
The bank said once the account is opened, customers can immediately transfer funds online from another account and start transacting via the banking app such as making online payments and transfers.
While waiting for the debit card to arrive, customers can perform cardless ATM withdrawals using the Connect ATM withdrawal feature.
HLB managing director of personal financial services Charles Sik said "Apply@HLB" would remove the need of visiting a bank branch or meeting face-to-face by delivering a fully digital end-to-end onboarding process from applying for a bank account, identity verification to receiving a debit/ATM card.
"In addition to account opening, we will soon activate a fully digital credit card and personal loan application," he added.