- June 11, 2020
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Hang Seng Bank awarded Best Mobile Banking Application at The International Excellence in Retail Financial Services Awards 2020
- Expanding customer-centred digital services with its ‘mobile-first’ strategy
- Introducing new enhancements and capabilities with the help of big data and customer research
- As a result, the bank has recorded strong performances in their digital products sales and transactions.
Singapore, 11 June 2020— Hang Seng Bank received Best Mobile Banking Application at The Asian Banker International Excellence in Retail Financial Awards 2020.
Expanding customer-centred digital services with its ‘mobile-first’ strategy
The Hang Seng Personal Banking mobile app expanded the bank’s customer-centred digital service capabilities and reflects Hang Seng’s ‘mobile-first’ strategy. Customers can now perform a number of bank services, such as checking account balance, transfer services, performing foreign currency exchange and placing time deposits using the mobile app. The bank recorded an increase in the number of transfers made via its mobile app after the launch of its P.P Payment Platform. With the enhanced P.P Payment Platform, the number of customers who registered for FPS in December 2019 was twice that recorded during the same period in 2018. Usage of the bank’s mobile app has also been growing significantly, with the rate of active mobile users increasing by 60% in 2019.
Introducing new enhancement and capabilities with the help of big data and customer research
The bank developed a user-friendly mobile app to meet customers’ banking needs. From concept to release, the app revamp project took eight months, including user research, design and development. Adopting the Agile approach enabled the bank to design a mobile application according to the latest market trends and demands based on actual customer needs. Supported by greater user of big data and enhanced customer research, the bank introduced enhancements and new capabilities; include expanding the service scope of Virtual Assistant H A R O, an artificial intelligence powered virtual assistant that serves the retail banking market in Hong Kong. Virtual Assistant H A R O is able to engage in interactive dialogue with customers through a chat interface to assist them with personal finances management
As a result, the bank has recorded strong performances in their digital products sales and transactions.
Since the launch of the revamp project, the mobile app usage and digital products sales performance have seen significant growth, customers can now more often complete banking transaction via digital channel, and this has further reinforced the innovative and progressive image of Hang Seng Bank
The Asian Banker is the region’s most authoritative provider of strategic business intelligence to the financial services community. The Singapore-based company has offices in Singapore, Malaysia, Manila, Hong Kong, Beijing, and Dubai, as well as representatives in London, New York, and San Francisco. It has a business model that revolves around three core business lines: publications, research services and forums. The company’s website is www.theasianbanker.com
You may visit the Excellence in Retail Financial Services page at http://awards.asianbankerforums.com/retailfinancial/
For further information on the collaterals for winning banks, please contact:
Mr. Mobasher Zein Kazmi