12th August 2020 - 2 min read
Hong Leong Bank has introduced the first in-market digital banking platform for children in Malaysia, the HLB Pocket Connect app. Young savers are able to take charge of their own pocket money and savings with the help of their parents, through the HLB Pocket Connect’s interactive features.
The Earn feature allows parents to set tasks or goals and reward their children with extra pocket money upon completion. Under the Spend feature, children can learn how to keep track of their pocket money and spending while jumping on board the cashless movement via their reloadable HLB Junior Debit Card.
Parents can easily top up their children’s pocket money through HLB Connect, as well as set spending limits, control where and what their children spend on, and monitor their kids’ real-time spending. They can also use HLB Connect to instantly block or freeze the Junior Debit Card if they suspect any fraudulent activity or improper spend.
In the near future, the HLB Pocket Connect will include a customisable Save feature which lets children set their own saving goals for things that they wish to buy, allowing them to track their savings through a progress report.
“Today’s customers are already used to having a high level of personalisation and interaction through e-commerce, digital tools and mobile applications and they should expect the same interactive and intuitive ways when it comes to their banking and financial needs,” said Group Managing Director and Chief Executive Officer of Hong Leong Bank, Domenic Fuda. “HLB Pocket Connect is the manifestation of a fit-for-purpose digital banking experience for our customers who are raising a family consisting of young digital natives who are exposed to hyperpersonalisation, real-time gratification, and highly interactive content and experiences.”
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