Hong Leong Bank launches first in-market interactive digital banking platform called HLB Pocket Connect to serve both young savers and their parents.
The platform enables young savers to take charge of their own pocket money and savings and parents to cultivate a responsible financial lifestyle in their children from a young age. The HLB Pocket Connect is available for HLB 3-In-1 Junior Account customers in a mobile app and teaches young users the value of money and good money habits through its proprietary Earn, Save and Spend interactive features.
These features can be customized and controlled on their parents’ HLB Connect online banking seamlessly, allowing them to manage and monitor their children’s savings and pocket money usage anytime, anywhere.
Under the Earn feature, parents can set tasks or goals and reward their children with extra pocket money when they complete them. As the account comes with reloadable Junior Debit Card for children to Spend, parents can monitor and control their children’s pocket-money spending. Furthermore, they can set spending limits, control where and what their children can spend on as well as monitor real-time spend of their children.
Domenic Fuda, Group Managing Director and Chief Executive Officer of HLB, commented, “Today’s customers are already used to having high level of personalization and interaction through e-commerce, digital tools and mobile applications and they should expect the same interactive and intuitive ways when it comes to their banking and financial needs. We upgraded our flagship HLB Connect with a clear intention to move from being an efficient transactional tool to an integrated and personalised banking platform that can help our customers take control of their financial management. HLB Pocket Connect is the manifestation of a fit-for-purpose digital banking experience for our customers who are raising a family consisting of young digital natives who are exposed to hyperpersonalisation, real-time gratification and highly interactive content and experiences.
“HLB Connect proposition is powered by consumer insights and is the first digital banking product that was completely developed in-house via multiple customer research and usability sessions, in which the entire design thinking, user journey, interface and experience was built around the insights and patterns of customer behavior and habitual use of an app including tracking where the eyes look. This is how we intend to reach our goals of delivering a true simple, seamless and straightforward digital human experience with all our digital banking products,” said Fuda
“We believe digital banking platform like HLB Connect and HLB Pocket Connect not only add value to our existing and new customers but also contribute towards making financial services accessible, affordable and sustainable for society at large. With our highly customizable features, we are able to scale and expand our services to serve different communities’ needs, giving them greater social and economic empowerment,” added Fuda.
Parents can also block or freeze the Junior Debit Card instantly if they suspect any fraudulent or improper spend, all done through their HLB Connect.
