HSBC Bank Malaysia Bhd has launched enhanced foreign exchange (FX) services on its mobile banking app on Oct 2 in Kuala Lumpur.
The launch introduced three new features designed to help customers manage their foreign currency needs through a single digital platform.
Customers can now use FX Watchlist to monitor their preferred currencies, the FX Chart to explore historical exchange rate movements and FX Rate Alerts to set target rates and receive notifications when their desired rates are reached.
HSBC Malaysia International Wealth and Premier Banking, wealth and premier solutions head Jon Chivers said the new features were designed to support more informed decision-making and help customers stay connected to the currencies most relevant to them.
“These features are designed to improve visibility and convenience, not to remove the need for personal judgment or professional advice where appropriate,” he noted.
For first-time FX investors, he advised taking the time to understand the market and explore the research and resources available within the app before setting target exchange rates and alerts.
He encouraged customers to take the first step and familiarise themselves with the platform to start benefiting from its features, describing the app as simple, straightforward and intuitive.
The enhancements come amid rising demand for online foreign exchange services, as evidenced by the 428,000 visits to the FX on mobile services on the HSBC Malaysia mobile banking app over the past year, representing a 14% increase from the previous year.
“This tells us that customers are actively seeking timely access to foreign exchange information and services,” he said.
This is where the enhanced mobile FX services come into play, catering to a range of financial needs, from travel and overseas spending to paying school fees abroad, supporting family members overseas and managing investments in foreign currencies.
“Increasingly, affluent customers expect to manage these needs with the same speed and simplicity they experienced in other parts of their digital lives.”
In line with this, customers can also convert currencies through the app 24 hours a day, seven days a week, with access to live exchange rates.
For HSBC Premier customers, the Global Money Transfers service also enables them to send money to more than 50 countries and territories without transfer fees.
Alongside the launch, the bank also hosted an FX outlook session led by HSBC Global Investment Research Asia FX Research head Joey Chew, providing insights into the foreign exchange investment landscape and market outlook.
For more information, visit www.hsbc.com.my.
