Deal with US-based provider of mobile-banking solutions will let customers access services on mobile handsets from 2010
ACLEDA Bank has signed a deal with an international provider of mobile-banking solutions paving the way for the bank to offer banking services over mobile phones from next year.
ACLEDA President In Channy said Wednesday that Atlanta-based M-Com’s BankAnywhere technology must be integrated with the bank’s core systems before the services can be offered. “We will launch this solution early next year,” he said. “Not later than February.”
The system will be compatible with all mobile phone networks, though the bank has not yet discussed the service with operators in the Kingdom, In Channy said.
“With this BankAnywhere solution, wherever phone service coverage is available, customers will be able to use ACLEDA banking services,” he said
ACLEDA inked a deal with Electricite du Cambodge (EdC) in August allowing its customers to pay electricity bills at the bank’s automatic teller machines. The new system would allow users to make the same transaction over their mobile phone, circumventing the need to travel to the state utility provider or find an ATM, In Channy said.
He declined to reveal the cost of the service, citing an M-Com confidentiality agreement.
M-Com CEO and Founder Adam Clark said in a press release late Tuesday the company would work with
ACLEDA to deliver its customers “compelling mobile financial services that deliver convenience, control and more financial freedom”.
“We have invested years of focus and energy to understand the dynamics of banks in emerging markets like Cambodia, and have tailored our BankAnywhere platform to meet those needs effectively and economically,” he said.
“We will help the leading bank in Cambodia exploit the mobile channel to deliver clear commercial outcomes.”
In Channy said he was confident mobile-phone providers would sign up for the service. “There is a mutual benefit for customers, ACLEDA Bank and phone operators,” he said. “Because our bank has roughly 1 million customers, I don’t think that mobile phone operators will say no to this service.”
Mfone Marketing Manager Kom San said he was eager to work with ACLEDA, saying cooperation between the two would pave the way for the bank to reach out to the operator customers. “This will bring benefits for us and provide convenience for our customers,” he said.
Smart Mobile Chief Marketing Officer Kirill Mankovsky said his customers can already top up their accounts using ACLEDA’s ATMs, but that he was looking forward to exploring further possibilities.
“We, of course, will cooperate with ACLEDA Bank on this service,” he said.
The service will let ACLEDA customers make person-to-person payments, top up their accounts with mobile-phone providers, pay utility bills and manage their finances in both Khmer and English scripts. These services will be available through text messages, mobile-phone Internet browsers and downloadable application interfaces. They will support multiple currencies and language scripts, the press statement said.