AfE 2024
In 2023, HSBC saw its market share of foreign investment into Malaysia reach 30% of total assets under management, making it the leading custodian and clearing bank for foreign institutional investors investing in country’s capital markets. HSBCnet Get Rate, which provides its Malaysian customers with automatic preferential FX rates, was upgraded to allow 24/7 FX booking for companies with EU and US headquarters.
New retail products included its TravelOne credit card, the first in Malaysia to allow customers to instantly redeem their card reward points. In addition, HSBC added a kill switch security feature to its card management tools, allowing customers to freeze their accounts when suspicious activity is detected.
Finally, the bank launched fully digital investment via its mobile app in August 2023. Following the launch, approximately 72% of new unit trust investment accounts were opened via the HSBC’s mobile channel.