HLF Digital app sees SGD $1 billion in transactions since launch

Hong Leong Finance has launched its HLF Digital mobile app, reporting over SGD $1 billion in digital transactions since its initial soft launch in August 2024, with more than SGD $600 million in fixed deposits made via the platform.

According to the company, HLF Digital has recorded over 14,000 sign-ups in the months since its pilot introduction, signalling strong customer engagement with the new offering.

Omnichannel focus

HLF Digital is positioned as part of Hong Leong Finance's integrated omnichannel approach, aiming to provide customers with both digital convenience and the option of personalised support at branches and through relationship managers.

The app allows users to perform a broad range of financial activities at any time, including opening new accounts, placing fixed deposits, making fund transfers and updating personal information. Information about the latest promotions for deposits and loans is also available through the app.

User security is a key consideration in the development of HLF Digital. The platform incorporates advanced encryption for data protection and employs multi-factor authentication to manage secure logins for its customers.

Responses from customers highlighted the convenience and usability of the application. Mr Z. Zhuo, an app user in his 30s, described his experience:

"With my busy work schedule, the HLF Digital app has been a great help. It is easy to use, and I can now manage my finances, place fixed deposits, or transfer funds anytime, anywhere - right from my phone. The app's security features also give me peace of mind whenever I use it."

Similarly, Mr S. Yew, who is in his 60s, commented:

"For someone like me who is not very tech-savvy, I was pleasantly surprised that I could easily learn to use the HLF Digital app. The app has brought so much convenience as I can easily access a range of services from the comfort of my home, and I still have the option of visiting the branch when I want to."

Company perspective

Mr Ang Tang Chor, President of Hong Leong Finance, provided commentary on the significance of this launch for the company's overall direction and vision:

"The launch of HLF Digital marks a significant milestone in our transformation journey. The app is a strategic enabler that reinforces our long-term vision to be a customer-centric financial institution. It reflects our commitment to making financial services more accessible and efficient, as well as bringing greater value to customers. By combining technology with our personalised service, we are reshaping how customers engage with us while building a foundation for sustainable business growth and innovation."

Lifestyle and rewards

Beyond traditional banking services, Hong Leong Finance has integrated a set of lifestyle features into the app, including the SG60 KopiLah Programme. This initiative, timed to coincide with Singapore's 60th year of independence, encourages support for local coffee businesses while offering benefits such as free coffee, 60-cent coffee deals, 60% discounts, and 1-for-1 offers at more than 60 participating outlets across Singapore, including Fuling, Kimly Group, Memo Café and The White Tiffin.

App users can also access dining and hotel privileges at selected locations across the city-state.

Mr Sunny Peh, Director of Operations at Kimly Group, a partner in the SG60 KopiLah Programme, said:

"We're proud to partner with Hong Leong Finance on their KopiLah Programme to celebrate Singapore's 60th year of independence. As a homegrown coffee chain, Kimly is deeply rooted in Singapore's coffee culture. This collaboration with another iconic local brand is a meaningful way for us to give back to the community that has supported us throughout the years."

Promotions and incentives

As part of its SG60 promotions, HLF is offering customers who open a Premium SAVER Account through the HLF Digital app - provided they maintain a minimum daily balance of SGD $6,000 for the month following their account opening - the opportunity to win prizes, including a grand prize of a pair of return air tickets to Hainan and a three-night hotel stay. Early bird rewards are also available for the first 100 qualifying customers (SGD $60 cash reward) and the first 1,000 qualifying customers (a limited-edition Nanyang-inspired Thermal Flask).

Mr Ang Tang Chor commented on the broader impact of the digital service and associated promotions:

"Our SG60 KopiLah Programme and promotions are meaningful ways for us to celebrate SG60 and the launch of our app with HLF's customers. Beyond digital financial services, HLF Digital is also about using technology to enrich everyday life. Whether you are placing a fixed deposit or redeeming a coffee deal, HLF Digital puts convenience and value at your fingertips."