Oriental Bank, a new bank in Cambodia with a digital-first strategy, has announced that it has chosen global payment provider BPC to power its digital banking experiences.
Cambodia has over $22 billion in currency circulation and digital literacy is on the rise. The UN Economic and Social Commission for Asia and Pacific reports that 15.6 percent of the population made or received digital payments during 2019, demonstrating a rapid increase in demands for digital infrastructure.
The Southeast Asian nation’s commercial bank aims to capture a sizeable market share of tech-savvy consumers as well as those who prefer brick-and-mortar banking experiences.
This strategy will see Oriental Bank engaging in a 60 percent digital – 40 percent conventional banking approach.
BPC SmartVista’s platform will be used to power the digital banking experience from Know Your Customer onboarding, deposit account opening, and funds transfers.
It will also be used to power end-to-end payment experiences, including QR codes, card issuing, digital loan applications, and other self-service banking channels such as ATM Driving Services.
This article was first published in Khmer Times. All contents and images are copyright to their respective owners and sources.