Enhanced capability of branches to benefit corporate and commercial customers
Hong Leong Bank today announced it will start using the Reuters Electronic Trading – Automated Dealing (RET-AD) system todistribute live streaming FX rates to all its branches and business centers. The launch marks yet another milestone in Hong Leong Bank’s journey oftransformation by leveraging on technology to be able to bring the best products and extend the most efficient service to its customers and clients.
The use of the RET-AD system brings about a more efficient execution of the bank’s over-the-counter FX transactions at the branches. The RET-AD systemallows for on demand real-time FX information at the branches with streamlined processing of FX transactions. It also enables dealers to provide customisedhedging or investment solution, risk management and other value added activities that ultimately benefit clients.
“We already have real-time straight through processing risk system and this will be seamlessly integrated with the Reuters new automated dealing offeringwithin our treasury operation. The highly flexible and secured browser based system will be strategically rolled out to our branches and business centers,”said Mr Kua Wei Jin, Chief Operating Officer for wholesale banking (WSB).
Ultimately, the intention for the automation of the FX prices is for corporate clients to be able to hedge real-time foreign exchange positions byaccessing the Bank’s website from any standard internet browser on their internal systems.
Hong Leong Bank actively invests in cutting edge technology and in getting the right people on board as a competitive advantage. Leading its investment inIT for wholesale banking services is RET-AD which will help ensure that Hong Leong Bank remains as one of the top business and commercial bankinginstitutions in the country today.
“We are pleased to provide this technology to Hong Leong Bank. The agreement underscores Reuters strength in providing flexible global transaction servicesto the FX markets in Malaysia. Reuters aims is to extend beyond the desktop to offer a complete business solution for an entire organization. Reuters hasestablished itself as a global leader in FX transaction technology for the fast-paced treasury marketplace,” commented Eddie Haddad, Managing Director ofReuters Asean.
The live streaming of FX rates through the RET-AD system is a key component in the Hong Leong Bank’s plans to grow its treasury business in Malaysia.Reuters was chosen as a strategic partner due to the unique benefits it offers that support Hong Leong Bank’s wholesale banking FX business strategy.
“The journey for Hong Leong Bank has long begun and we are all on board,” added Kua Wei Jin, “We will continue to make various investments in our ITinfrastructure and applications that directly enable and support our ongoing business transformation. “
For more information, please visit any of Hong Leong Bank’s 17 Wholesale Banking Business Centers strategically located to assist you. Or, you can call theCorporate & Commercial, Wholesale Banking, Hong Leong Bank at 03- 2169 2719.
Press Release - 02/10/2007