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Maybank clinches ‘Best International Bank in Cambodia 2021 Award’

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Maybank clinches ‘Best International Bank in Cambodia 2021 Award’

Maybank clinches ‘Best International Bank in Cambodia 2021 Award’

Maybank Cambodia was named the “Best International Bank in Cambodia” by Asiamoney Best Bank Awards for the second consecutive year, acknowledging the bank’s role in adopting sustainability into its business and community initiatives, including efforts in accelerating financial inclusion across borders.

“We are humbled to be the winner of this prestigious award in spite of the challenging global market conditions arising from the pandemic since early 2020. This would not have been possible without strong support and trust from our customers, communities and stakeholders,” said Maybank Cambodia CEO Mohd Hanif Suadi

“This accolade is a testament to our commitment and capability to leverage our leading position in the country to deliver value to our stakeholders through growth opportunities arising from our recovery and sustainability agenda, focusing on Environmental, Social and Governance.”

He added that driven by its mission of “Humanising Financial Services”, Maybank continues to leverage digital innovation and transformation initiatives to achieve sustainable growth with a focus on enabling a responsible transition to a low-carbon economy, empowering communities and leading by example with good governance practices.

Despite the pandemic, Maybank has continuously catered to the pressing needs of its customers, enabling them to conduct their daily banking transactions more conveniently through ATM upgrading and Smart Recycler Machine (SRM) deployments, where they can withdraw and deposit cash via a single platform.

In addition, the bank has enhanced its Maybank2u (M2U) mobile app and internet banking platform, as well as Maybank2E (M2E) cash management solution to provide customers a seamless experience when transacting online.

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The Maybank headquarters located on Phnom Penh’s Norodom Boulevard. SUPPLIED

Since the introduction of Host-to-Host capabilities on M2E, enabling straight through processing (STP) directly from the corporate client’s host to Maybank’s regional cash management system, coupled with the work from home or mobile work arrangement trends arising from the pandemic, Maybank has registered a 31 per cent year-over-year surge in the number of M2E customers in 2021.

In the area of foreign exchange (FX), Maybank provides local banks in Cambodia real-time FX quotes and comprehensive regional solutions as well as front-to-end and post-sales services.

Last year, Maybank achieved a milestone as it was chosen as the first international bank in Cambodia to enter into a breakthrough initiative with the National Bank of Cambodia to launch the Maybank-Bakong cross border funds transfer.

This is a first-of-its-kind cross-border solution rolled out within and beyond Cambodia via innovative blockchain-based technology.

Cambodian citizens working or residing in Malaysia greatly benefit from this service as they are now able to transfer money to their Bakong e-wallets in Cambodia easily and cost effectively via Maybank’s MAE app in Malaysia.

This gives them greater financial empowerment as they are able to actively manage their own funds, including paying bills for their families and transferring money to loved ones.

Additionally, Maybank has provided its customers with assistance for loan repayments, particularly from highly affected sectors as defined by the regulatory authorities.

This includes its participation in the Special Co-Financing Scheme for SMEs under the Cambodia SME Bank as well as the recent collaboration with Credit Guarantee Corporation of Cambodia on co-financing loan-guarantee scheme.

Hanif said: “Moving into 2022, we will continue to stay committed to serve and grow with our customers and the community on the digital and sustainability front.”

“Among others, we are looking at further expanding our cross-border opportunities, leveraging further on our Bakong success, scaling up our retail and SME solutions, including adding on credit card offerings to our product suite.”

In October last year, Maybank also emerged as the Best Retail Bank in Cambodia and was commended for Best CSR Initiative in the Annual Retail Banker Asia Trailblazer Awards.

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