Leading Cambodian Bank Goes Live With M-com Technology For Mobile Banking And Payments

via Khmer NZ

Published on July 19, 2010

by Serge Van Dam

(OfficialWire)

ATLANTA, GA

International mobile banking solution provider, M-Com, announced today that ACLEDA Bank Plc has launched its market-leading mobile financial services powered by M-Com’s flagship product, BankAnywhere.

“ACLEDA has now taken a solid market leadership position. We now offer the most comprehensive and compelling mobile financial services in Cambodia,” said Mr. In Channy, President & CEO of ACLEDA Bank Plc. “We have effectively leapfrogged the Internet channel and gone straight to mobile.”

The deployed services enable ACLEDA customers to make person-to-person payments, pre-paid top up, utility bill payments and manage their finances in both Khmer and English scripts. These services are now available through text messaging, mobile browser and downloadable application interfaces and support multiple currencies and language scripts as required by ACLEDA’s customers.

“Mobile phones have transformed the lives of many Cambodians in a positive way and we have successfully delivered ACLEDA’s customers universal access to financial services through their mobile devices,” comments M-Com CEO and Founder, Adam Clark. “ACLEDA’s customers can avoid going to branches if they choose to, while sending money home to loved ones in rural areas has just become a whole lot easier. Innovating in the mobile channel in this way will make consumer relationships more profitable for ACLEDA as it has for M-Com’s other customers.”

M-Com’s BankAnywhere solution has been built leveraging the Microsoft.NET Framework 3.5 using Visual Studio 2008. Leveraging Windows Server 2008 and SQL Server 2008, ACLEDA has deployed the product within its secure data center in Phnom Penh and integrated to its TEMENOS T24 core banking system.

“Banking customers in Cambodia and elsewhere increasingly are choosing to use their mobile phones as their PCs,” said Joe Pagano, Managing Director, Banking and Capital Markets, Worldwide Financial Services Sector, Microsoft. “With M-Com’s BankAnywhere, ACLEDA will be able to provide customers with choice and address the challenge of connecting mobile customers on our scalable and secure Microsoft platform.”

“We chose M-Com because they have a 100% success track record. They have continued their unrivalled record with the ACLEDA mobile banking implementation, and our customers are now the beneficiaries of M-Com’s execution capabilities,” Mr In Channy continues.

“We have demonstrated once more that the M-Com team and M-Com’s technology can be effectively deployed in any continent,” adds Clark.

About M-Com: Headquartered in Atlanta, GA, M-Com is an international mobile banking and payments solution provider with live Fortune 500 banking customers across Asia Pacific, the Middle East, Europe and North America. M-Com’s core proposition is centered on helping financial institutions and payment processors deliver world class adoption and revenue metrics from the mobile channel.

Contact: Serge van Dam, Head of Marketing, +1 678 369 0602, serge.vandam@mcom.co.nz, www.m-com.us.

About ACLEDA Bank Plc: ACLEDA Bank Plc. (Association of Cambodian Local Economic Development Agencies'), a Cambodia's leading commercial bank, was established in February 1993 providing customers all types of banking services where headquartered in building #61, Preah Monivong Blvd., Sangkat Srah Chork, Khan Daun Penh, Phnom Penh, Cambodia. ACLEDA Bank Plc. was rated as stable by two international rating institutes. They are Moody's Investors Services and Standard & Poor's Corporation(S&P).

ACLEDA Bank Plc. recently employs more than 7,000 staff and maintains a network of 233 offices throughout Cambodia. It scored the "first" for Cambodia by arranging a comprehensive insurance package with Jardine Lloyd Thompson Asia ('JLT'), the largest UK insurance broker listed on the London Stock Exchange, and Asia Insurance (Cambodia) Plc. The policy provides for Banker's Blanket Bond, Electronic and Computer Crime, Directors & Officers Liability and Company Reimbursement Insurance covering such as risks as theft of cash and other securities, fraud and embezzlement, forgeries and counterfeiting of valuable documents, computer fraud and malicious attack on the bank's systems and third party liability of its directors and senior management.

With a wide range of experiences, sufficient human resources, strong financial resource, and best risk management system, ACLEDA Bank Plc. has become the first domestic bank to invest in foreign country by establishing ACLEDA Bank Lao Limited with existing 12 branches and offices serving Deposits, Credits, Fund Transfers, Cash Managements, and Trade Finances. By growing rapidly, 5 more branches will be operated soon. Now ACLEDA Bank Plc has more than 421 Correspondent Banks within 54 different countries.

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