back Back

Oriental Bank Plc selects BPC to power Digital Banking Experience

By Edlyn Cardoza

February 28, 2022

  • AML
  • API
  • Asia
Share

Oriental Bank Plc, Cambodia, BPC, Payment Provider, Digital Payments, BPC SmartVista, KYC / AML, QR codes, ATM Driving Services, API, AsiaOriental Bank Plc., a new bank in Cambodia with a digital-first strategy, recently announced that it has chosen the global payment provider BPC to power its digital banking experiences.

Cambodia has over $22 billion in currency circulation, and digital literacy is rising. The UN Economic and Social Commission for Asia and Pacific reports that 15.6% of the population made or received digital payments during 2019, demonstrating the rapid increase in demands for digital infrastructure.

The Southeast Asian nation’s newest commercial bank aims to capture a sizeable market share of tech-savvy consumers and those who prefer brick-and-mortar banking experiences. This strategy will see Oriental Bank Plc. engaging in a 60% digital – 40% conventional banking approach.

BPC SmartVista’s platform will be used to power the digital banking experience from Know Your Customer onboarding, deposit account opening, and funds transfers. It will also be used to power seamless and secure end-to-end payment experiences, including QR codes, card issuing, digital loan applications, and other self-service banking channels such as ATM Driving Services.

Datuk Phan Ying Tong, the Founder and MD of Oriental Bank Plc., said: “Oriental Bank is blending technology and the human touch to ensure that we can reach out to customers no matter what touchpoint they use. We selected BPC for their extensive understanding of the local market and their competitive speed in delivering a new bank from the ground up. With BPC, we are relying on a strong local partner that will embrace growth and help us scale.”

To deliver highly reliable, customer-centric financial products to Cambodia, Oriental Bank Plc. was attracted to the ease of partnering with BPC’s next-generation P2P services that form part of the bank’s ecosystem, including API connections to third parties for instant payment. It was also attracted to BPC’s capability to extend the ecosystem further with added value services as the bank grows.

Terry Paleologos, Managing Director APAC at BPC, commented: “BPC has a strong market share and presence in Cambodia with an established local team who are fully equipped to support clients and partners. The demand for a digital lifestyle is palpable; hence we see major transformation projects. However, building a neobank from the ground up is an even more exciting initiative as the foundation will bring digital-first experience to clients who demand it.” He also added: “We are confident that with this partnership, both Oriental Bank and BPC are paving the path towards greatness, together.”

Recently, IBS Intelligence reported that BPC had announced a collaboration with UnionPay International in Pakistan.

Previous Article

February 28, 2022

Paperwork secures seed funding to improve financial wellbeing of American families

Read More
Next Article

February 28, 2022

Alveo announces the launch of its new Delta integration capability

Read More








IBSi Daily News Analysis

digital wallets

March 01, 2024

AML

Banking Sector and regulatory framework: addressing India’s growing demand for secure lockers

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

March 01, 2024

AsiaVerify & Visa to bolster digital payments and banking in APAC

Read More

March 01, 2024

FinTech Focus: Catch latest developments of the week

Read More

March 01, 2024

Fimple partners with CR2 to enhance digital banking and payments

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q4 2023
Know More
Wealth Management & Private Banking Systems Report Q4 2023
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q4 2023
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 2023