Hong Leong Bank Set to Deliver Financial Literacy Training to foodpanda’s Delivery Partners

pandasafe, which was officiated by YB Anthony Loke, Minister of Transport Malaysia at a launch ceremony held at foodpanda’s headquarters, is a data-driven, multi-touchpoint safety ecosystem, combining technology, education, and financial literacy to build a long-term culture of road safety for foodpanda’s delivery partners.

As part of this collaboration, HLB will deliver its award-winning HLB DuitSmart financial literacy workshops to selected foodpanda delivery partners, aligned with the Bank’s commitment to driving financial awareness in Malaysia and supporting the gig economy.

The gig economy is a vital and rapidly growing segment of Malaysia’s workforce, with an estimated three million Malaysians, around 17% of the workforce, engaged in gig work in 2023.¹ However, the nature of gig work, which often involves irregular income and daily earnings, can lead to a lack of long-term financial planning. A study by the UN Capital Development Fund ² revealed that while many gig workers can meet their basic needs, they often lack regular savings and awareness of future financial security. This financial vulnerability makes them susceptible to emergencies and inflation, and highlights the critical need for accessible financial education.

Kevin Lam, Group Managing Director and CEO of Hong Leong Bank, commented on how this collaboration reflects the Bank’s heart of uplifting communities and promoting financial inclusion.

“As a Bank, we are committed to investing in the communities we serve, and that extends to our gig economy workers who are a vital cornerstone of our modern economy as well. To us, equipping these riders with financial literacy and awareness is not just a responsibility, but an imperative societal step forward for them to build a secure future.

In line with this, we are proud to deliver our HLB DuitSmart program to the gig economy, leveraging our flagship initiative where our employees actively conduct financial literacy workshops in schools, corporations, and communities throughout the country. Through this, we are not just offering a workshop. We are providing a pathway for these individuals to take control of their financial well-being, manage their daily earnings effectively, and plan for a more stable future, truly embodying our belief that when our communities thrive, all of us prosper.”

As part of HLB’s collaboration with foodpanda, the Bank will conduct its award-winning HLB DuitSmart financial literacy workshops with foodpanda delivery partners, equipping them with essential money management skills and long-term financial planning. The sessions are specifically designed to be relevant to the delivery partners, with tips and tricks that cater to the various needs and requirements of the gig economy.

Zalman Zainal, HLB’s Chief Marketing and Communication Officer added, “We are honoured to partner with foodpanda on this meaningful initiative. Our HLB DuitSmart program was designed to make financial education relatable and accessible, as we seek to empower the communities around us with important money management skills. Through this, we hope to continue creating long-lasting change and empower these delivery partners towards achieving their financial goals.”

Since 2021, the Bank has conducted its HLB DuitSmart financial literacy workshops across the country, empowering students, businesses, and members of the community with vital financial knowledge and scam awareness. Powered by the Bank’s own employees, the Bank has specifically tailored HLB DuitSmart workshops for more than 30,000 participants across over 280 workshops around the country, empowering schools, universities, businesses and communities with the tools and resources needed to achieve a brighter financial future.

In recognition of its contribution to national financial inclusion, HLB DuitSmart has been awarded the Champion title for Enhancing Educational Opportunities / Improving Financial Literacy at ABM’s 50th Anniversary Celebration CSR Excellence Awards 2024. The program has also received the Bank of the Year for Community Empowerment award at the Sustainability & CSR Malaysia Awards 2024.

To know more about the HLB DuitSmart financial literacy programs, visit https://www.hlb.com.my/en/personal-banking/campaigns/duitsmart.html

¹https://www.straitstimes.com/asia/se-asia/more-malaysians-opting-for-gig-work-raising-fears-of-skilled-workers-shortage

²https://www.uncdf.org/article/6399/new-research-highlights-financial-health-of-gig-workers-in-malaysia-and-china

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