KUALA LUMPUR (March 5): As the Covid-19 pandemic expedites the need for digital transformation across all businesses, HSBC Malaysia wants to continue its focus on digitalisation and sustainability in 2021.

“In 2021, we have very, very strong prospects, and the growth driver is digitalisation and sustainability,” said Karel Avni Doshi, the country head of corporate, commercial banking at HSBC Malaysia, in a virtual briefing today, on HSBC Malaysia’s "Corporate 2020 Achievements & 2021".

Noting that businesses are changing, Karel said HSBC Malaysia wants to build a bank that is fit for the future and drive value for its clients by capitalising on all the innovations out there in the market as well as disruption to the industry.

“So, we are looking to improve the commercial banking franchise and leverage our expertise, including in wealth, personal banking, with a keen focus on digitalisation and sustainability,” she added.

“We aspire to build a more sustainable business through collaborative partnerships with customers by supporting them to transition towards suitability in line with HSBC's net zero ambition, and through building more strategic partnerships with external local businesses to encourage knowledge sharing and co-create through collaborative initiatives that are beneficial to Malaysia businesses,” Karel noted.

Andrew Sill, the country head of commercial banking at HSBC Malaysia, concurred, saying the bank is continuously looking for other areas where it could improve its digital offerings and digital investments to increase efficiency and making it an increasingly user-friendly bank to do business with.

“One of the things that is very clear during Covid-19 is our ability to deliver digital platforms to our customers and provide a seamless service.

“From talking with our customers, we are able to identify what their requirements are, what [are] the gaps in the market or in our offerings, and be able to come out with solutions to fill the gaps,” said Sill.

Last month, HSBC Holdings said it would invest US$6 billion (RM24.43 billion) in its wealth management and wholesale banking operations in Asia over the next five years.

Sill noted that Malaysia would indeed be a recipient of some of that funding, but did not disclose how much or what portion HSBC Malaysia would be receiving.

Nonetheless, he added that the funding received will be largely for technology and digital offerings, of which areas to invest in are product capabilities and digital platforms, particularly transaction banking, namely trade finance, receivable financing, global cash management businesses and foreign exchange.