HSBC has just announced the launch of its Investment Account Opening service on the HSBC Malaysia mobile banking app. THSBC Premier customers can now open investment accounts with the bank at any time and anywhere through the use of their mobile phones.
This service can be found embedded in the “Wealth” tab within the HSBC mobile banking app. With the mobile Investment Account Opening service, HSBC Premier customers can easily open unit trusts, bonds, and Sukuk accounts with the Bank—all at one go. HSBC is also the first bank in Malaysia to offer customers the option to open bond/Sukuk investment accounts via their app.
To further transact in bonds/Sukuk (trading/buying/selling activities), HSBC Premier customers would still need the assistance of their relationship managers, either face to face or via Remote Engagement Service.
HSBC’s Investment Account Opening service was first introduced in May 2022 and was only accessible via a web browser at the time though HSBC online banking. The bank has also introduced a range of digital wealth services which includes EZInvest on mobile and Unit Trust Browser together with this service.
Customers can also easily move money into their wealth accounts using these digital platforms. They can also monitor the performance of their unit trusts, structured investments, bonds/sukuk and dual currency investments with HSBC via the Wealth dashboard on the HSBC Malaysia Mobile Banking app.
“Digitalisation is a key part of our wealth business, as we continue to put customer convenience at the forefront, and the launch of the digital Investment Account Opening Service is a testament to this,” said Linda Yip, Country Head of Wealth and Personal Banking, HSBC Malaysia.
“As our customers build their wealth portfolios both in Malaysia and across the globe, we will capitalise on the strength of HSBC’s international network to play an integral part in their journey, by providing our customers access to our market leading products and services. Our wealth solutions are broad with a comprehensive shelf of unit trusts, bonds/sukuk, structured investments, dual currency investments, foreign currencies and insurance. We use a hybrid model of relationship managers and wealth specialists, supported by digital wealth capabilities to serve our customers holistically,” she added.
In order to continue its accelerated growth in Asia and meet its goals of becoming the leading wealth bank in the region, HSBC announced plans in 2021 to invest over USD3.5 billion over a five-year period. The bank aspires to double its Assets Under Management (AUM) by 2025 (from the 2020 AUM position) with a specific focus on areas such as unit trusts and structured investments.
