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Making a Mach on generation Y

Hong Leong Bank (HLB) launched a new sub-brand called Mach by Hong Leong Bank, targeted to providing the Gen Y with customised new-age banking.

The new sub-brand aims to reach out to the young professionals who are value seekers, intelligent and well informed while being mid- to high-income earning professionals.

Mach by Hong Leong Bank offers customisable services, eco-friendly processes, non-intrusive high-tech self-service concepts, convenient locations and fast turnaround time to young and new bankers.

“Many of them grew up with PCs and the Internet, without going into a bank. Therefore they expect everything to be done on that basis. That’s why we are catering to them. We want to reach out to them through a medium that they fully understand,” said HLB’s group managing director Datuk Yvonne Chia.

Datuk Chia adds that the new system is more technologically advanced, making it more relevant to the Gen Y and is in sync with what they are used to.

The brand has brought together “bricks and clicks” to best serve its consumers, with a dedicated packaging of “life-starter” products that are adapted to their lifestyles.

When asked why the need for physical branches for an online-based banking system, Datuk Chia said, “There will always be people and branches because what’s equally important is being dependent on relationships and personal interactions. Different generations have different needs.”

Today marked the opening of two Mach by Hong Leong Bank branches-one in Mid Valley, Kuala Lumpur and another in i0i Mall, Puchong–with plans to open another 20 over the next two years.

Datuk Chia said it plans to market the product through HLB agents and blogs but will not immediately start social media engagement.

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