Hong Leong Bank Berhad (HLB) has officially launched ‘Loan2Go’, an online application platform for car loans. This makes HLB the first bank in Malaysia to roll out an off-site straight-through-processing mobile car loan application platform on tablets for its sales force.
The platform has been available nationwide to HLB’s auto loan sales force progressively since March 2016. Customers can now apply for car loans on the spot through HLB’s auto loan salespeople, thereby saving a trip to the bank.
“Our move to an online and mobile loan application platform is part of the Bank’s efforts to enhance customer journeys by rethinking and digitising processes,” said Dominic Fuda, Group Managing Director and Chief Executive Officer of HLB.
Fuda further described Loan2Go as a product that gives three-fold impact to Hong Leong’s car loan business.
“Firstly, we are able to refocus and maximise the time our auto loan sales force spends on sales-generation, which contributes to the overall productivity of the team. Secondly, with the approval-in- principle in hand, customers have the confidence to complete their auto loan application with HLB. Thirdly, our dealers will be able to close their sales in half the usual time required as the applications can be submitted anytime Mondays to Sundays,” Fuda said.
As an interesting aside, the Hong Leong Group, albeit through a different business subsidiary, had at one point owned an automotive portal – Autoworld.com.my, which it eventually sold off to Jobstreet in 2008.
In conjunction with Loan2Go's launch, HLB is offering the first 200 customers rebates worth up to RM100 on one year’s road tax for loan applications submitted from 3 Nov 2016 onwards.
If you are in the midst of budgeting the purchase of your next car, the Carlist.my Loan Calculator is a useful tool to calculate your monthly installments based on your vehicle price, downpayment, interest rate, and loan tenure.