Hong Leong Bank's Multi-Currency Pay&Save Account Named Best Deposit Product in Malaysia by The Asian Banker

The Bank's Cashless Kampung project was also named Best Financial Inclusion Initiative at the ceremony

Galvin Yeo, HLB's General Manager of Deposits & Digital (2nd from left) and Yaw Yi Xuan, Assistant Manager of Acquisition & Portfolio (Deposits)

in HLB (2nd from right) receiving the "Best Deposit Product in Malaysia" award.

KUALA LUMPUR, 10 SEPTEMBER 2024 - Hong Leong Bank ("HLB" or the "Bank") is proud to announce two major wins at The Asian Banker Awards 2024. Its innovative Pay&Save Account/-i ("Pay&Save") has been named "Best Deposit Product in Malaysia" at The Asian Banker Excellence in Retail Finance and Technology Innovation Malaysia Awards 2024. In addition, its Cashless Kampung project was recognised internationally as the "Best Financial Inclusion Initiative" under the Excellence in Retail Financial Services International Awards 2024, underscoring HLB's commitment to bringing innovative and accessible financial and digital solutions to underserved communities.

Kevin Lam, Group Managing Director and CEO of HLB, highlighted how the bank is leveraging digital innovation to not only improve the banking experience, but also to uplift the communities they serve. "As Your Digital Bank Plus Much More, we strive to equip our customers with a seamless, digital banking experience while embedding ourselves in the community to promote widespread financial inclusion and drive economic growth. We are honoured to receive these awards from The Asian Banker as they represent not only our commitment to designing innovative, customer-centric financial solutions, but also our belief in utilising financial and digital inclusion to uplift communities and drive economic growth."

The Pay&Save account is a comprehensive financial solution that simplifies money management, while offering higher interest/profit on everyday transactions and empowering customers with multi-currency flexibility. Leveraging on HLB Connect and an integrated multi-currency debit card, this account is designed for a seamless user experience, from account opening to daily banking. Customers can manage finances in both Malaysian Ringgit (MYR) and 12 major foreign currencies, streamline currency conversion with competitive exchange rates, and enjoy the added convenience of spending and withdrawing foreign currencies abroad while receiving FOREX alerts at their preferred rates.

HLB's Managing Director of Personal Financial Services, Andrew Jong, believes that true digital innovation lies in transforming fundamental banking products like deposit accounts into essential lifestyle companions. He stated, "This account is a reflection of our commitment to building digital solutions that empower our customers. We're reimagining our digital banking products and services to seamlessly integrate into our customers' diverse lifestyles, catering to their varied payment and banking needs anytime, anywhere. Our Pay&Save account exemplifies this customer-centric approach, where we're dedicated to creating innovative products and solutions that seamlessly integrate into our customers' lives and needs, echoing our brand promise of being 'Built Around You'."

In addition, the Bank's Cashless Kampung project received the international award for "Best Financial Inclusion Initiative", which reflects HLB's endeavours to ensure underserved communities have access to innovative financial and digital solutions.

"The project has been instrumental in supporting residents and businesses in Sekinchan by facilitating the opening of bank accounts, issuing debit cards, and enabling digital banking access without the need to visit a physical branch. HLB has also been progressively equipping businesses and schools in Sekinchan with the HLB DuitNow starter kit, further promoting digital transactions. A key element of the initiative has been our dedication to customer empowerment and education. We deployed staff to "turun padang" (on-ground) to understand the challenges faced by vendors and businesses. This hands-on approach allows us to build tailored solutions and services, address concerns, and boost confidence in using digital tools," said Galvin Yeo, General Manager of Deposits and Digital at HLB.

Both The Asian Banker Excellence in Retail Finance and Technology Innovation Malaysia Awards and the Excellence in Retail Financial Services International Awards 2024 are prestigious accolades that acknowledge financial institutions for their visionary leadership, effective execution, and unwavering commitment to delivering top-tier financial services. These awards are highly regarded for their rigorous selection process, transparency, and dedication to showcasing exceptional accomplishments and industry best practices.

To learn more about HLB's Pay&Save Account/-i, please visit