back Back

Mbanq joins IG Tech Cambodia to expand BankTech & BaaS solution in SEA

By Gloria Mathias

June 20, 2024

  • ASEAN Markets
  • BaaS
  • BaaS solutions
Share

Mbanq, Fintech News, Fintech solutions, IG Tech Cambodia, BaaS, Banking as a Service, Digital Banking, SEA, ASEAN Markets, Mbanq, a global Banking-as-a-Service (BaaS) and digital banking innovation company, has formed a partnership with IG Tech Cambodia, a FinTech and banking technology developer in Southeast Asia. Together, they have created IG Finlink Cambodia, with Mbanq holding majority ownership.

The partnership marks Mbanq’s expansion into the ASEAN (Association of Southeast Asian Nations) banking technology and BaaS markets. Mbanq will offer its comprehensive BaaS solutions across Southeast Asia, starting in Cambodia and expanding into Singapore, Malaysia, Thailand, Indonesia, and Vietnam.

Additionally, Mbanq will provide digital banking technology to financial institutions in the region, offering customized and localized digital banking solutions for local, regional, and international banks and embedded finance solutions for brands.

Vlad Lounegov, CEO of Mbanq, said, “Mbanq will introduce its BaaS and the latest banking technology to the burgeoning ASEAN markets, where FinTech and digital transformation are advancing rapidly. Since its inception, Mbanq has collaborated closely with IG Tech Cambodia, which has been a reliable and valued technology development partner. We are excited to deepen this partnership to bring the Banking-as-a-Service technology and services to Southeast Asia.”

Puthkiry Kim, Chairman of IG Tech Cambodia and co-founder of IG Finlink Cambodia, shared, “We are thrilled to formalize a new partnership with Mbanq and embark on the Banking-as-a-Service journey in Southeast Asia. With over 80% smartphone adoption in Cambodia, the country and the wider region present immense potential for technologically driven disruption with new digital banking platforms catering to niche markets. Having already partnered with Mbanq for eight years, we are impressed by its global growth and success.”

The new partnership will focus on four new areas:

  • BaaS and Digital Banking Platform Solutions: Comprehensive BaaS and banking technology solutions via cloud or on-premises on a SaaS basis to the Cambodian and broader ASEAN markets.
  • Embedded Banking for Brands: To create new revenue streams, increase customer engagement, and improve the overall value proposition for SE Asian brands with embedded finance.
  • Global FinTech Training Center: Establish IG Finlink as a global FinTech training hub for Mbanq solutions and services worldwide.
  • Expansion of Technology Development: Enhance Mbanq’s technology development capabilities in SE Asia and globally.

Previous Article

June 20, 2024

TerraPay & Thredd to power virtual card payments for the travel industry

Read More
Next Article

June 20, 2024

Revolut partners GTN to bring bond trading to EEA customers

Read More






IBSi Daily News Analysis

cloud,

July 19, 2024

ASEAN Markets

SMEs leverage cloud to gain competitive edge, study shows

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

Today

MANTL joins Q2’s Digital Banking Platform to support financial institutions

Read More

July 24, 2024

UK Open Banking marks 10 million user milestone

Read More

July 24, 2024

Cash Plus goes live with Profile Software’s Finuevo Suite

Read More

Related Reports

Sales League Table Report 2024
Know More
Global Digital Banking Vendor & Landscape Report Q2 2024
Know More
NextGen WealthTech: The Trends To Shape The Future Q4 2023
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2024