Hong Leong Bank blends digital innovation with human touch

Digital-first transformation used to meet modern customer demands.  

Hong Leong Bank (HLB) is transforming its operations by leveraging artificial intelligence (AI) and customer-centric strategies, with Group Managing Director and CEO Kevin Lam highlighting the bank’s commitment to integrating technology to redefine banking services.

Lam himself led a top-down approach to its adoption. “I stay updated on the latest in AI, particularly in financial services,” he shared. Complementing this, HLB fosters a bottom-up culture through initiatives like the AI Ignite Challenge, encouraging employees across departments to propose AI-driven solutions.  

“This year, about 40 colleagues pitched ideas to senior management,” Lam revealed. Winning projects, such as one focused on retail credit, have already been implemented. In one case, AI bots replaced manual customer payment reminders, making over 300,000 calls with a success rate matching that of human agents. “This innovation saved us 20 overhead positions while maintaining customer satisfaction,” Lam noted.

Despite its digital emphasis, HLB sees a vital role for physical branches in delivering services that digital platforms cannot fully replicate. “The future of branches is already here,” Lam stated. Branches are transitioning into advisory hubs, focusing on problem-solving and building customer relationships.  

“Some transactions require high-security measures or consultative engagements, which can’t be done virtually,” Lam explained. By prioritising these in-person interactions, branches remain essential.  

Lam acknowledged that balancing legacy systems with cutting-edge technologies is a challenge. However, HLB’s integration of AI and data-driven processes is a testament to its commitment to innovation. “It’s about being a digital bank first while ensuring a seamless, customer-centric experience,” he said.