The bank, which has been steadily growing its presence in the market for a decade, will offer a «simple, yet functional» digital banking experience.
The Vietnam subsidiary of Hong Leong Bank has launched a «next generation, customer-centric» digital bank in the country, the Malaysia-based bank announced in a statement this week.
The digital bank will offer fee-free financial services and e-vouchers to customers seamlessly on one platform, the statement said.
Onboarding is completed within the bank's HLB Connect app and comes with a ready-to-use Visa virtual pre-paid card. Customers will be able to upgrade to a savings account, which comes with a physical Visa card, within the app.
Digital Banks to Capture Foreign Markets
Malaysian banks have taken to digital banking in a bid to capture foreign markets. Hong Leong's foray into Vietnam follows CIMB's move into the Philippines, where it launched an all-digital and mobile-first bank earlier in 2019.
«Vietnam is a market primed for digital and mobile bank offering as only about 40% of Vietnam's 95 million people have bank accounts while there are around 120 million mobile phone subscriptions,» Domenic Fuda, HLB group managing director and CEO said.
