PPCBank, Kosign, BNKC MFI Ink MoU for Easy Repayments

Phnom Penh, Cambodia, December 20, 2024 - PPCBank, together with its strategic partner, Kosign, has signed a Memorandum of Understanding (MoU) with BNKC MFI Plc., improving and streamlining the repayment process for customers by allowing them to use the PPCBank bill collection ecosystem.

The three-way MoU signing ceremony was held at PPCBank’s Head Office on Norodom Boulevard in Phnom Penh. Signatories to the historic agreement are PPCBank President, Mr. Lee Jin Young, the CEO of BNKC MFI, Mr. Moon Sungjin, and the CEO of Kosign, Mr. Seol Wook Hwan. The ceremony was also attended by senior officials from all three companies.

PPCBank President, Mr. Lee Jin Young, highlighted the fact that he believes the initiative will continue to modernize the country’s payment system and also contribute towards the further development and deepening of Cambodia’s financial markets. “The purpose of this collaboration is to provide ease and convenience to BNKC MFI customers, in terms of repayment mechanisms,” he said. “We at PPCBank are opening up a broader world of financial possibilities for the future, driven by a customer-focused approach. We continuously strive to grow stronger and better to meet the evolving needs of our customers, our partners, and their customers,” he added.

Also addressing the signing ceremony, the CEO of BNKC MFI, Mr. Moon Sungjin, emphasized that collaborating with PPCBank and Kosign has enabled his company to improve service delivery and ensure that customers have a multitude of convenient options when it comes to repaying their loans. He also pointed out that the agreement will go a long way in improving operational efficiency, thereby providing a better customer experience, most especially for those living in Cambodia’s more remote areas.

As per the MoU, all banking activities of BNKC MFI related to loan repayments will be conducted exclusively through PPCBank. The collaboration focuses on promoting digital payment solutions and providing multiple channels for customers to make repayments online, saving time and enjoying greater levels of convenience.

Thanks to the tripartite collaboration, BNKC MFI customers will now also have access to Kosign’s WeBill365’s diverse payment solutions with PPCBank via dynamic KHQR. BNKC MFI will also receive real-time payment notifications when repayments have been made by their customers.