Ayeyarwady Bank (AYA Bank) in Myanmar has launched an online bill payment service with Yangon City Development Committee (YCDC).

Powered by ConnectN Pay the service enables YCDC’s customers to pay bills via AYA’s branches, internet and mobile banking.

Zaw Zaw, chair of Aya Bank

Zaw Zaw, the chair of AYA, is pushing for more innovation and says he hopes to help more ‘middle-class people to go cashless by offering more channels such as i-banking’.

He added that the bank ‘previously left behind the international banking system, and now we are trying to catch back up’.

AYA says it has also implemented an improved reporting system in an effort to be more transparent in light of the Central Bank of Myanmar’s regulations.

In addition, the bank signed an agreement with Japan’s Mizuho Bank on 3rd August to improve foreign banking services.

In April this year, the bank rolled out Ireland-based CR2’s omnichannel banking solution. This was to manage its ATMs, online banking and POS terminals. This was CR2’s first user in the country and followed a detailed selection that took in a number of competitors, according to the supplier’s COO, Mike Brady.

AYA, which was set up in 2010, is in the top three in Myanmar, says it now has a network of 115 branches and 225 ATMs.

It is a country with a lot of growth at present, reflected in a succession of systems decisions over the last couple of years, with others pending.

This follows the elections in 2010, prior to which the country, as Burma, was controlled by a military junta. Less than five per cent of the population has bank accounts but a number of licences to foreign banks were granted last year.

By Antony Peyton.

by IBS Intelligence
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