Temenos, the banking software company, on Tuesday announced that Cambodian Hattha Bank, commercial bank in Cambodia, has selected Temenos Infinity to power the launch of its SME banking business.
The world’s #1 best-selling digital banking platform provides ready-to-use digital banking features to enable the bank to quickly launch and deliver USD millions in vital SME funding during the ongoing Covid-19 pandemic. Temenos Infinity’s seamless customer onboarding will support the bank’s vision to quickly scale and reach 100,000 SMEs with vital funding and business banking services within five years.
Hattha Bank, a subsidiary of Bank of Ayudhya, the fifth-largest commercial bank in Thailand, was established more than 25 years ago as a microfinance deposit-taking institution and has expanded over time to offer commercial and retail banking services. By selecting Temenos Infinity, Hattha Bank aims to fulfil its socio-economic duty and provide Cambodian SMEs with essential funding and access to frictionless digital banking experiences.
SMEs comprise about 99.8% of all business entities in the country and 58% of GDP. Temenos’ open technology will support the bank’s vision to spur economic growth and generate jobs by offering business loans that enable SMEs to grow their operations.
Temenos Infinity’s open and flexible architecture will seamlessly connect to Hattha Bank’s core system and provide instant access to SME banking features, spanning onboarding, user management and entitlements, bulk payments and approvals and account and cash management. With no need for major customization, Hattha Bank can quickly launch the new business line and respond to the needs of Cambodian SMEs navigating through the pandemic.
Oknha Ieng Tong, President and CEO, Hattha Bank, commented: “We are thrilled to partner with Temenos as we grow our operations and empower Cambodian SMEs with frictionless digital banking services. Together, we will build a brighter future for our customers and our country. Temenos supports our objectives, giving us the fastest time-to-value so we can quickly respond to the needs of SMEs seeking critical funding during the pandemic. Temenos’ market-leading cloud technology will also provide us with a solid foundation on which we can hyper-scale our operations profitably and meet the needs of hundreds of thousands of SMEs.”
Jean-Paul Mergeai, President of International Sales, Temenos, said: “We are proud to partner with Hattha Bank on this important mission to make digital banking better and more widely accessible to Cambodian SMEs at this crucial moment. Temenos’ brings rich local experience to this partnership from our work supporting 20 Cambodian banks with market-leading cloud, open API- and AI-driven technology. Together with Temenos, Hattha Bank will set a new standard for SME banking in Cambodia, making frictionless business banking and human, digital experiences the norm for its SME customers.” Finextra.com
This article was first published in Khmer Times. All contents and images are copyright to their respective owners and sources.
