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BANKING ON DIGITAL:Evolution & Innovation in Financial Services
Raja Teh MaimunahChief Executive OfficerHong Leong Islamic Bank
Chief Operating OfficerDigital Innovation & Transactional BankingHong Leong Bank
Business Model Transformation
Businesses have, for more than a decade, moved their business functions online.
So has banking, for 20 years now…
20 years of Online Banking Milestones
Bank of Scotland launches “Homelink”, the 1st ‘online
banking’ platform - transfer and pay bills via phone and
television connection
1983 1994 2001 2005 2007 2011
“400 million people (25% of global internet population) are
banking online.”
Comscore
2013
Facebook develops its own financial services –remittances & e-money
Apple launches the iPhone, triggering a monumental shift
in mobile banking applications
FFIEC announces new regulations and calls for
banks to conduct risk-based assessments for improved
security measures to authenticate remote account
access
Eight US banks achieve
1M online users
Online banking is built into the Microsoft Money
personal finance software
Top 5 Mobile Payment Markets by Volume in 2015*
82 billion bill payments
55 billion bank card acceptance
27 billion e-commerce over mobile phones
23 billion point-of-sale payments
55 billion person-to-person transactions
How Technology & Innovation have changed Banking
Local banks have branded their online platforms for identity building
The Near Future – a Customer Journey at Hong Leong Bank
awareness information advice becoming a customer
service & transaction share
Cyc
le
PRESENCE PERSONALIZATION INTERACTIVE SIMPLICITY UBIQUITIOUS &CONVENIENCE
FEEDBACK
Trad
itio
nal
On
lin
e
The Near Future – a Customer Journey at Hong Leong Bank
awareness information advice becoming a customer
service & transaction share
Cyc
le
PRESENCE PERSONALIZATION INTERACTIVE SIMPLICITY UBIQUITIOUS &CONVENIENCE
FEEDBACK
Trad
itio
nal
On
lin
e
… MOBILITY: Mobile devices now play
a fundamental role in various parts of the engagement cycle
What was once a dependency on
desktops and wired internet, customers can now do the same and
more through…
What we are doing at Hong Leong
OverallStrategy
digitization
digital products
partnerships& merchants
marketing &social media
Enabling and expanding Connect’s online banking capabilities across various digital platforms, with emphasis on innovation in mobility.
Development of online banking products to replicate offline banking offerings. Some online products will have enhanced benefits.
Continuous communication through advertising to educate consumers on Connect and its services, as well as promotions and acquisition campaigns
to increase adoption.
Value Creation via expansion of reach, increased usability and ecosystem enrichment
PEx - Payment Express – Mobile Money Transfer
Watch the video on YouTube!Search for “PEx Hong Leong Bank”
Thank You