Hong Leong Bank unveils auto loan platform

From left to right: Domenic Fuda, group managing director & CEO of Hong Leong Bank; Lynda Kew, general manager, auto loans and ?Charles Sik, managing director of personal financial services.

KUALA LUMPUR: Hong Leong Bank Bhd (HLB) on Thursday formally launched its auto loan application platform called Loan2Go.

This makes HLB the first bank in Malaysia to roll out an off-site straight through processing mobile auto loan application platform on tablets for its sales force.

In a statement, group managing director and chief executive officer Domenic Fuda said HLB is transitioning towards being digital at the core, adding that the new platform will improve the speed and quality of delivery to cater to the evolving needs of customers.
 
"Our move to an online mobile loan application platform is part of the bank's efforts to enhance customer journeys by rethinking and digitising processes," he said.

Fuda said the move would enable HLB to refocus and maximise the time its auto loan sales force spends on sales generation, contributing to the overall productivity of the team.

"With the approval in-principle in hand, customers would also have the confidence to complete their auto loan application with HLB.

"Thirdly, our dealers will be able to close their sales in half the usual time required, as the applications can be submitted anytime on Mondays to Sundays," he added.
 
Loan2Go is another example of HLB's multi-pronged digital innovation strategy, which follows closely on the back of its recent announcement of a  collaboration with Malaysian businesses through the Angels Network to support and develop local technology-focused start-ups and businesses through a mentorship programme. - Bernama