Two leaders in the local financial industry have teamed up to enhance customer access to transfers, e-payment, loan repayment and remittance services.
Acleda Bank and Wing (Cambodia) Limited Specialised Bank on Wednesday signed an agreement to connect and harmonise many of their services.
Acleda Bank president In Channy and Wing CEO Manu Rajan signed the partnership agreement on Wednesday at Acleda Bank’s headquarters in Phnom Penh.
“The partnership merges the networks of both institutions, giving customers access to 43,476 locations nationwide to conduct transfers and payments fast, conveniently and safely,” Channy said at the signing.
“The benefits of this partnership are many. It supports customer growth, mitigates risks and reduces expenses,” he said, pointing out that Acleda Bank clients can now make loan payments as well as withdraw or deposit funds at any Wing or Acleda Bank outlet.
Channy said his bank boasts the largest ATM network in the Kingdom as well as more than 4,000 point-of-sale machines in retail outlets across Cambodia.
Acleda Bank also provides digital solutions with a broad array of services that includes Acleda Unity ToanChet, a sophisticated online banking platform with more than 1.2 million private registered users and nearly 31,000 certified corporate partners, Channy said.
Rajan noted that Acleda Bank’s clients can now transfer money instantly from a Wing to an Acleda Bank account.
“Acleda Bank customers can make use of Wing’s large and unmatched ecosystem of 7,300-plus agents to cash their money out or use the more than 40,000 merchants to make payments or shop.
“This partnership not only benefits Cambodians living in Cambodia. Cambodians living in more than 200 countries can also use Wing’s International Remittance partners to send money cost-effectively back to Cambodia into the Wing accounts of their family members,” he said.
Customers can also transfer money to their bank account using Acleda Bank’s remittance partners in Cambodia and then withdraw that money from any Wing agent across the country, Rajan said.
He said over the past 10 years, Wing has ensured that millions of Cambodians enjoyed convenient and safe mobile financial services through its vast network of agents.
With the trust of over five million customers – most of whom are outside the banking system – Wing continues to support the Cambodian economy by facilitating transactions.
Last year alone, 130 million transactions were carried out on its network, worth roughly 80 per cent of the country’s gross domestic product.