KUALA LUMPUR (Jan 17): Hong Leong Bank Bhd (KL:HLBANK) said on Friday it has signed an agreement to cooperate with WeBank Technology Services, a subsidiary of WeBank, China's largest digital bank.

The bank aims to raise its operational efficiency and leverage artificial intelligence (AI), Hong Leong Bank said in a statement. Hong Leong Bank will also leverage WeBank Technology Services’ expertise in AI to develop automation tools and applications, boosting its salesforce and operational teams, it said.

The technology would then be aimed at extending capabilities across data systems, marketing, and campaign management, further improving the bank’s offerings and financial solutions, Hong Leong Bank noted.

"This partnership perfectly complements our strategy,” said Hong Leong Bank group managing director Kevin Lam. “It allows us to further accelerate our growth by leveraging their AI expertise to boost our operational efficiency, and deliver even greater service excellence to our customers worldwide.”

The agreement was signed at a ceremony alongside WeBank Technology Services’ financial institution partners from Thailand, Indonesia and Hong Kong. Hong Leong Bank was represented by Andrew Jong, its managing director of personal financial services, at the ceremony in Hong Kong.

Hong Leong Bank was reportedly the first lender in Malaysia to introduce electronic know-your-customer and end-to-end digital onboarding for customers in 2020. The company was also the first bank outside China to allow merchants to accept Weixin Pay in 2018 for Chinese travellers to make payments in Malaysia.