One of Cambodia’s largest fintech companies, TrueMoney, is announcing a partnership with one of the country’s most respected microfinance institutions, Funan Microfinance Plc. (FUNAN) to further promote financial inclusion throughout the Kingdom of Cambodia.
The partnership, which began on September 1, will enable FUNAN customers to collect loan disbursements from TrueMoney agents nationwide.
By putting TrueMoney agents at FUNAN’s disposal TrueMoney will help promote financial inclusion by providing banking services to the Kingdom’s un-banked and under-banked sectors of Cambodian society.
The initiative is a joint effort by both FUNAN and TrueMoney to make loan repayment easier for customers by reducing the need
for time-consuming travel to FUNAN branches.
FUNAN and TrueMoney entered into a similar agreement last year.
TrueMoney (Cambodia) Chief Strategy Officer Ms. Khuon Frandara said, “With the assistance of FUNAN, TrueMoney is hoping to further promote financial inclusion and digital literacy throughout Cambodia. We, at TrueMoney, are proud to put our impressive network of over ten thousand agents at the disposal of FUNAN and FUNAN customers. Now, those who have loans can collect their disbursements from any TrueMoney agent nationwide.”
FUNAN’s parent company Cambodia Post Bank targets the country’s mass market segment while FUNAN provides micro loan lending to low-income and rural segments where bank facilities could be difficult to access.
Chief Executive Officer of FUNAN Khou Buntry said, “This agreement has been reached for the benefit of both FUNAN and TrueMoney customers. Once again, by using TrueMoney’s impressive network of agents we are providing tremendous value and convenience to FUNAN’s customers.”
TrueMoney is a leading international Fintech brand and part of Ascend Money, a digital financial services venture of The Charoen Pokphand Group (CP Group) and Ant Financial (Alibaba), two of the largest companies in Asia. The TrueMoney group is now one of the largest financial life platforms in Southeast Asia.
FUNAN is a subsidiary Company of Cambodia Post Bank Plc., operates its lending business through its 51 branches covering all potential areas both in the provincial and district towns.
This article was first published in Khmer Times. All contents and images are copyright to their respective owners and sources.
