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Home » Hong Leong Bank to work with Chinese company WeBank Technology Services on fintech and AI
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Hong Leong Bank to work with Chinese company WeBank Technology Services on fintech and AI

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KUALA LUMPUR (January 17): Hong Leong Bank Bhd (KL:HHL BANK) announced on Friday that it had signed a cooperation agreement with WeBank Technology Services, a subsidiary of WeBank, China’s largest digital bank.

The bank aims to increase operational efficiency and leverage artificial intelligence (AI), Hong Leong Bank said in a statement. Hong Leong Bank will also leverage WeBank Technology Services’ AI expertise to develop automation tools and applications, strengthening its sales force and operational teams, it said.

The technology would then aim to expand the capabilities of data systems, marketing and campaign management, thereby enhancing the bank’s financial offerings and solutions, Hong Leong Bank noted.

“This partnership perfectly complements our strategy,” said Kevin Lam, Group Managing Director of Hong Leong Bank. “It allows us to further accelerate our growth by leveraging their AI expertise to strengthen our operational efficiency and deliver even greater service excellence to our customers around the world.” »

The agreement was signed in a ceremony alongside WeBank Technology Services’ financial institution partners from Thailand, Indonesia and Hong Kong. Hong Leong Bank was represented by Andrew Jong, its general manager of personal financial services, at the ceremony in Hong Kong.

Hong Leong Bank was reportedly the first lender in Malaysia to introduce electronic know-your-customer and end-to-end digital onboarding for customers in 2020. The company was also the first bank outside of China to enable merchants to accept Weixin Pay in 2018 for Chinese travelers need to make payments in Malaysia.

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