Phnom Penh - Cambodia, December 29th, 2022 – PPCBank has formed a new strategic partnership with Kosignwhich will offer an enhanced banking experience for both individual and corporate customers particularly SMEs. The landmark agreement brings together one of Cambodia’s leading commercial banks and one of its fastest growing fintech firms. The agreement was signed in Phnom Penh on December 29th, 2022.
PPCBank, KOSIGN Form Strategic Partnership For Next Level Banking
It will see bothcompanies workingclosely together to maximize benefits of mutual interest and take banking to the next level by making banking service more flexible, accessible, and responsive to the needs of customers.
The partnership is focusing on developing innovative new business models for banking across platforms and ecosystems. These innovations stand to benefit for corporate customers particularly small and medium (SMEs), through the ability to add new financial products and services into their own ecosystems.
Mr. Lim Jong Won, Senior Director of PPCBank, said the partnership heralds a new and exciting era for banking in the kingdom. “As a leading bank in Cambodia, we are committed to investing in digital transformation and developing new business banking technology to provide a simpler and better banking experience for our customers. By entering into this strategic partnership with KOSIGN, we enable SMEs in the country to run an efficient, time and cost saving business. The integration between WABOOKS and PPCBank Banking system is to enhance the ability of financial management and digital payment service for SMEs.”
Speaking at the signing ceremony, Mr. SeolWook Hwan, the CEO of KOSIGN, also highlighted the benefits of the partnership for SMEs particularly. “Customers require high quality and accessible banking products that are end-to-end digital and Banking-as-a-Service is making this possible. Our API-based platform offers a comprehensive suite of BaaS products that enables businesses to embed financial services directly into their ecosystems to create seamless customer journeys. We are excited to combine our technology with PPCBank to offer the next generation of financial management services.”
Under the partnership agreement, PPCBank aim to bring financial service to the next level.
First, the integration between WABOOKS and Bank System to enhance the ability of finance management and digital payment services for SMEs.
Second, provide a quick and easy access for SMEs to open a bank account.
Third, strong collaboration to create the right financial products for SMEs in the area of digital payment, credits, savings, remittance and more.
PPCBank is honored to partner with KOSIGN, with it having the edge and capacity needed to provide high-quality financial advisory services and operational solutions to maximize the effectiveness of SMEs. The partnership has been hailed as a bold new vision for the future of banking in Cambodia.
About PPCBank
Locally incorporated in September 2008, PPCBank currently operates across 23 branches and 70 ATMs in Cambodia. With its vision to make banking easy, PPCBank provides a full suite of products and services, ranging from conventional deposits and loans, credit and debit card issuing to secure internet-based corporate management services, SmartBiz, state-of-the-art Mobile Banking, and Cash in/out and ATM machines to allow customers to operate banking services 24 hours a day and 7 days a week securely and conveniently. PPCBank is a member of both the Bakong payment platform and KHQR.
About KOSIGN
KOSIGN is a B2B Software company founded by South Korea’s Webcash Group. KOSIGN operates in three main business domains including B2B Fin-Tech, e-Finance Solution, and Global IT Outsourcing in Cambodia. KOSIGN is providing WABOOKS accounting solution and FLOW.team collaboration software to corporate customers. Besides businesses, as a CSR, we provide a 12-month IT training scholarships at Korea Software HRD Center, and provide the opportunities to work at the partnering companies in South Korea.