Hong Leong Bank First To Enable Fully Digital Account Onboarding With Apply@HLB

Alex Cheong Pui Yin

9th October 2020 - 3 min read

Hong Leong Bank (HLB) has become the first bank in the country to offer a fully digital onboarding experience for customers looking to open a bank account. This means that HLB customers will no longer need to visit a bank branch or a self-service terminal for verification procedures in order to open a bank account.

Available immediately, customers can tap into this service by downloading the Apply@HLB mobile app, after which you can open a bank account in three steps with only one required document – your MyKad:

Verify your identity with your MyKad and a selfie
Fill in your personal details
Create a username for the HLB Connect app so that you can access online and mobile banking services upon activation of your account

To use this service, you need to be 18 years of age and above, and your application will be processed within three working days after submitting it. You’ll also get an email and SMS notification once your application is approved, which will further prompt you to fund the account within 7 days. Meanwhile, your debit card will be posted to you within 14 days after you have made the first deposit into your new account.

HLB’s new service comes following the publication of the guideline on eKYC (electronic know-your-customer) by Bank Negara Malaysia (BNM) in June 2020, a technology that the central bank requires banks to adopt. In short, eKYC is a paperless security and verification technology used to confirm the identity of customers for all digital transactions, thereby making for a simpler and safer onboarding process.

According to the group managing director and chief executive officer of HLB, Domenic Fuda, the introduction of Apply@HLB is timely as the bank has seen a significant shift to digital banking over the past 7 months. “Expanding our digital offerings to the first of its kind digital account opening through eKYC will further propel the move to digital banking,” he said. Domenic also hopes that the new service will deliver a higher value-added customer experience, which will set a new benchmark for the banking industry.

hlb domenic fuda

Chief digital and innovation officer of HLB, Shailesh Grover also shared a similar sentiment, commenting that HLB has accelerated the delivery of its digital roadmap since the outbreak of Covid-19. “Whilst we had enabled online application for a bank account for some time now, customers still had to complete the process by visiting a branch in-person for identity verification. Apply@HLB closes the loop on our previous account opening process and delivers an end-to-end digital account onboarding process, which is also aligned with our digital at the core strategy,” he explained.

Meanwhile, the managing director of personal financial services of HLB, Charles Sik said that Apply@HLB is HLB’s way of adapting as the world continues to battle Covid-19. He also noted that in addition to account opening, HLB will soon activate a fully digital credit card and personal loan application.

You can find out more about Apply@HLB at Hong Leong Bank’s website.

4.2 5 votes

Article Rating

Alex Cheong Pui Yin

Previously covered recruitment-related stories and had a short stint as a copywriter for the property industry. She subsequently developed an interest in investment and robo-advisors.

See all articles