International Finance

Hong Leong Bank launches new-gen digital bank in Vietnam

Hong Leong digital bank
The digital bank will offer fee-free financial transactions and e-vouchers to customers on the HLB Connect app

Hong Leong Bank Vietnam has launched a digital bank in the country through its mobile platform HLB Connect app. The Hong Leong bank digital bank is designed to be a next-generation customer-centric platform, the local media reported. 

Hong Leong Bank’s digital bank will offer fee-free financial transactions and evouchers to customers on a single platform. Customer onboarding is completed using the HLB Connect app and comes with a ready-to-use Visa virtual prepaid card. 

Customers who need a comprehensive account can seamlessly upgrade to a savings account using the app. Also, they will have their first Visa debit card delivered to their choice of location, the press release said. Customers will also be able to open fixed deposits on the app and have instant access to ATM withdrawals. 

Domenic Fuda, Group Managing Director and Chief Executive Officer of Hong Leong Bank, said in a statement, “Coupled with our understanding that time and convenience are the most treasured commodities in a fast-paced and on-demand consumer mentality, HLB Connect has the power to enable both greater financial inclusion and access to ecommerce to more Vietnamese consumers on a single platform.”

Vietnam has great potential in digital and mobile banking as only 40 percent of a total 95 million population hold personal bank accounts — mainly concentrated in urban areas. That said, there are nearly 120 million mobile phone subscriptions with robust telecom network coverage nationwide. 

Customers can download the HLB Connect app from iOS App Store or Google Play Store—and will receive a virtual Visa Prepaid Card with a maximum deposit limit of 5 million vnd. 

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