ABA​ Bank’s​ online​ banking​ platform​ and​ digital​ ecosystem​ receive​ highest​ accolade

06/Sep/2024

aba ifa awards dt en

ABA​ Bank,​ Cambodia's​ largest​ commercial​ bank​1 and​ leading​ digital​ finance​ provider,​ has​ acquired​ two​ prestigious​ awards​ from​ the​ International​ Finance​ Magazine.

This​ year​ marks​ the​ first​ time​ the​ comprehensive​ ABA​ Business,​ an​ online​ banking​ platform​ has​ been​ titled​ Cambodia's​ Best​ Corporate​ Online​ Banking​ Solution.​ The​ other​ accolade​ of​ ABA​ is​ the​ second-time​ Cambodia's​ Best​ Digital​ Bank​ that​ exhibits​ its​ remarkable​ achievements​ and​ outstanding​ performance​ in​ the​ financial​ sector.​

Revolutionizing​ Cambodian​ business​ banking

ABA​ Bank​ has​ been​ at​ the​ forefront​ of​ modernizing​ banking​ solutions​ in​ the​ country,​ leveraging​ advanced​ technologies​ across​ its​ range​ of​ services.​ Since​ its​ launch​ in​ 2018,​ the​ ABA​ Business​ online​ banking​ platform​ has​ seen​ remarkable​ growth,​ catering​ to​ businesses​ of​ all​ sizes—from​ small​ enterprises​ to​ large​ multinational​ corporations—while​ providing​ top-notch​ security​ and​ convenience.

The​ ABA​ Business​ platform​ has​ solidified​ its​ leading​ position​ in​ the​ financial​ market​ by​ offering​ a​ comprehensive​ suite​ of​ features​ that​ enable​ businesses​ to​ efficiently​ manage​ their​ operations.​ These​ include​ staff​ and​ management​ payroll,​ utility​ payments,​ tax​ and​ customs​ duties,​ scheduled​ and​ batch​ payments,​ and​ a​ wide​ array​ of​ services​ for​ managing​ collections​ and​ disbursements.

Additionally,​ the​ platform​ allows​ seamless​ integration​ with​ third-party​ ERP​ and​ back-office​ systems​ through​ Host-to-Host​ services,​ as​ well​ as​ third-party​ accounting​ systems​ for​ faster​ reconciliation.​ These​ features,​ combined​ with​ two-factor​ authentication​ and​ a​ multi-level​ approval​ process,​ significantly​ reduce​ manual​ workflows,​ minimize​ errors,​ enhance​ operational​ efficiency,​ provide​ utmost​ security​ and​ easily​ blends​ into​ customer​ business​ processes.

It​ is​ also​ noteworthy​ to​ mention​ that​ from​ 2021​ to​ 2023,​ ABA​ Business​ experienced​ an​ impressive​ annual​ growth​ of​ 43%​ in​ its​ customer​ base.​ During​ the​ same​ period,​ the​ platform​ saw​ a​ 200%​ surge​ in​ transactions,​ exceeding​ $10​ billion​ in​ value.​ This​ growth​ underscores​ ABA​ Bank's​ commitment​ to​ delivering​ tailored​ banking​ solutions​ for​ businesses​ of​ all​ sizes​ in​ Cambodia,​ reflecting​ the​ trust​ and​ confidence​ placed​ in​ the​ bank​ by​ its​ clients.

Setting​ the​ standard​ in​ digital​ finance

With​ digital​ transformation,​ ABA​ continues​ to​ excel​ in​ online​ banking​ solutions​ with​ Cambodia's​ most​ prominent,​ popular,​ and​ user-friendly​ application​ –​ ABA​ Mobile,​ and​ a​ merchant-centric​ application​ –​ ABA​ Merchant.​

In​ 2023,​ ABA​ experienced​ a​ surge​ in​ its​ mobile​ banking​ app​ user​ base​ and​ KHQR​ payment​ merchant​ network​ by​ 30%​ and​ 43%,​ respectively.​ The​ Bank​ has​ been​ constantly​ upgrading​ and​ enhancing​ the​ advancement​ of​ both​ apps​ to​ provide​ convenience​ and​ security​ to​ its​ users.​

The​ latest​ ABA​ Mobile​ 5.0​ has​ a​ fresh​ revamped​ interface​ allowing​ personalization​ of​ themes,​ font​ size,​ and​ widgets,​ catered​ differently​ to​ each​ user,​ and​ a​ data-free​ access​ initiative,​ where​ customers​ can​ access​ the​ app​ without​ data​ charge​ for​ specific​ mobile​ operators.​ ABA​ Mobile​ users​ can​ also​ scan​ ThaiQR​ codes​ after​ the​ introduction​ of​ Bakong's​ cross-border​ payment​ to​ the​ app.​

The​ ABA​ Merchant​ app​ includes​ a​ new​ analytic​ feature,​ allowing​ merchants​ to​ access​ and​ analyze​ their​ transaction​ data​ more​ efficiently,​ leading​ to​ better​ customer​ engagement. These​ two​ applications​ reinforce​ ABA's​ leadership​ in​ digital​ payments,​ ensuring​ unparalleled​ convenience​ for​ its​ customers.​

The​ International​ Finance​ Magazine​ mentioned​ in​ its​ write-up​ about​ the​ award:​ “This​ recognition​ highlights​ ABA​ Bank's​ dedication​ to​ setting​ benchmarks​ in​ the​ banking​ sector​ and​ championing​ excellence​ in​ corporate​ online​ banking​ solutions​ and​ overall​ banking​ innovation​ nationwide.”

Acknowledged​ and​ awarded​ by​ numerous​ international​ publications,​ ABA​ shows​ persistence​ and​ commitment​ to​ its​ customers,​ contributing​ to​ the​ growth​ of​ the​ country's​ banking​ and​ financial​ sector,​ and​ living​ up​ to​ its​ title​ as​ Cambodia's​ Best​ Bank.​

1ABA Bank is the largest commercial bank in Cambodia by total assets, gross loans, customer deposits, and profitability based on the National Bank of Cambodia’s National Supervision Report 2021-2023.