ABA Bank becomes Best Digital Bank in Cambodia 2019 by Asiamoney
ABA Bank, a subsidiary of National Bank of Canada, announces today it became the “Best Digital Bank in Cambodia 2019” by Asiamoney, regional arm of Euromoney, the international financial magazine. The award is bestowed on ABA for its digital dominance unparalleled in the sector, expanding reach, and strong backer which is National Bank of Canada.
Experts from Asiamoney highly praised ABA’s achievements in digital business transformation, modernization of its digital channels and development of the best-in-class banking application ABA Mobile with innovative services and features such as card-less ATM withdrawals, issuance of virtual cards for online and QR payments, boost of PayWay platform for e-commerce, and a number of other innovations.
“ABA embraces digitalization more than any of its local peers. Digital banking is a leading part of its business and is based on ABA Mobile app. Its E-Cash feature, which enables card-less ATM withdrawals, was used 370,000 times in 2018. Other advancements include ABA Pay, for QR code and cashless payments, and e-commerce payments service PayWay,” says Asiamoney editor in its write-up about ABA.
“The Bank continues to add features, recently adding a service for international money transfers, while it is also partnering with global payments platforms AliPay and UnionPay to enhance its QR-based payments system,” adds Asiamoney editor.
Having adopted the ‘digital-first’ strategy, ABA becomes a market frontrunner thanks to its customer-centric approach and early move into mobile banking. The Bank invests heavily in new technologies and, as a result, outperforms in financial digitalization.
“It’s a great pleasure to be named the Best Digital Bank in Cambodia 2019,” comments Zokhir Rasulov, Chief Digital Officer at ABA Bank. “This accolade proofs that we are on the right track in developing modern customer-centric financial products to Cambodian people and businesses, leveraging on technologies. This is true that ABA Mobile is the number one choice for most individuals and businesses in Cambodia thanks to its security, performance, and best user experience. Over the past year alone, the customer base of the mobile app has more than doubled. We are continuously working on development of our other digital products and platforms in order to make the financial life of our customers easier.”
ABA Bank manages the total assets of US$ 4.35 billion (as of 31 December 2019) and serves more than 730,000 customers through the extensive network of 77 branches, 550+ self-banking spots, and advanced online banking and mobile banking platforms. The bank’s leading position in digital and mobile banking and strong growth across its businesses won it a credit rating upgrade this year from S&P Global Ratings, which gives the Bank ‘B+’ credit rating with “Stable” outlook.
For over three decades, Asiamoney has been the voice of the banking and capital markets industries in Asia. During that time, this publication has been instrumental in covering developments in finance in the most exciting region in the world. Each issue of Asiamoney contains in-depth reports and banking awards in up to six markets in Asia-Pacific. Asiamoney’s award decisions are made by a team of senior journalists, chaired by Euromoney’s editor, after receiving detailed submissions from market participants and in conjunction with research into the banking and capital markets by the editorial committee. Senior editors also visited each country or territory to meet leading bankers and gather client and competitor feedback.