Hong Leong Bank and WeBank Technology Services: Partnership to Transform Digital Banking in Malaysia

(L-R) 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 held at WeBank Technology Services' Hong Kong base.

17 January 2025

KUALA LUMPUR: In a bold move that reinforces its status as a leading digital-first financial institution in Malaysia, Hong Leong Bank (HLB) announced a strategic cooperation agreement with WeBank Technology Services, a subsidiary of WeBank, China's largest digital bank.

This powerful alliance unites two organisations that are dedicated to pushing the boundaries of financial technology and enhancing customer experiences.

The partnership was officially signed during a ceremony that also celebrated WeBank Technology Services' collaboration with financial institution partners from Thailand, Indonesia, and Hong Kong.

Through this strategic alliance, HLB aims to enhance its operational efficiency and harness cutting-edge AI technology, ultimately providing even more personalized and impactful financial solutions to its customers and the wider community.

Leveraging WeBank Technology Services' expertise in AI, HLB plans to develop advanced automation tools and applications designed to boost the productivity of its salesforce and operational teams. These innovative technology solutions will extend capabilities across data systems, marketing, and campaign management, further enhancing the bank's customer-centric offerings and financial solutions.

Kevin Lam, Group Managing Director and CEO of HLB, expressed his enthusiasm for the partnership and its transformative potential saying, "As a digital-first bank, we have already invested heavily in technology to deliver seamless, innovative, and personalized financial solutions."

Lam stated, "This partnership perfectly complements our strategy, allowing us to accelerate our growth by leveraging their AI expertise to boost operational efficiency and deliver even greater service excellence to our customers around the globe. By combining our strengths and shared commitment to innovation, we will unlock new opportunities for our customers and redefine the banking experience. We believe this collaboration will propel us closer to our goal of becoming the Best Run Bank in Malaysia and a leading force in the digital banking landscape."

HLB has a history of pioneering initiatives, being the first bank outside of China to enable merchants to accept Weixin Pay in 2018, thereby simplifying payment processes for Chinese travelers in Malaysia.

Building on this momentum, HLB became the first bank in Malaysia to introduce eKYC and facilitate end-to-end digital onboarding for customers in 2020. The bank further solidified its digital leadership with the 2022 relaunch of the HLB BizBuddy mobile app, which enables seamless DuitNow QR payments for merchants. HLB showcased its commitment to AI-driven solutions last year by deploying AI voice bots in its collection operations, resulting in an impressive 15-fold increase in productivity.