ABA becomes the Best Digital Bank in Cambodia 2020 by Asiamoney magazine
ABA Bank, the leading Cambodian commercial bank and a subsidiary of National Bank of Canada, announces that it has received the "Best Digital Bank in Cambodia 2020" award from Asiamoney, the regional arm of the premier financial magazine Euromoney. The title from Asiamoney marks the excellence of ABA's digital platform for the second year in a row.
During the evaluation, the judges analyzed ABA's product portfolio, including the services launched in the reporting period. Among others, Asiamoney experts highly praised the following unique initiatives of ABA that helped it to win the Best Digital Bank award:
- Instant Loan product in ABA Mobile, which helps ABA customers solve their temporary money difficulties without breaking Fixed Deposit and losing the accrued interest;
- Visa Direct service that allows ABA Visa cardholders send money instantly from ABA Mobile to any Visa card issued by banks in Cambodia and eight other countries in the region;
- Further expansion of PayWay online gateway platform and acceptance of QR code-based payments;
- Extension of self-banking facilities, deployment of Cash Recycling Machines and Check Deposit Machines, and the launch of ABA 24/7 self-banking spots that allow making cash withdrawals and deposits and check deposits any time of the day in a convenient environment.
In its write-up about the award, Asiamoney noted that ABA Bank's digital banking platform helped it acquire, understand, and serve its customers. ABA Mobile, the bank's flagship mobile app, recorded in 2020 more than 100 million transactions with a total volume of nearly $59 billion.
"Widely recognized as the most technologically advanced bank in the country, ABA capitalized on the e-commerce industry boom triggered by the Covid-19 pandemic. It extended its QR code cashless payment system ABA PAY to smaller merchants. The bank also revamped its PayWay online payment gateway, which enables local entrepreneurs to sell their products and services online and has an invoicing tool, user management tool, and QR code generation," said Asiamoney experts.
Zokhir Rasulov, Chief Digital Officer at ABA Bank, commented on the occasion, "This recognition builds confidence in our chosen digital banking strategy and greatly motivates us for new developments and innovations. Our key goal is to make our clients' daily financial activity easy and safe. We will continue focusing on developing a strong digital ecosystem by delivering modern products and services that will keep ABA customers' satisfaction at a high level."
ABA Bank manages US$ 6.1 billion in total assets as of 31 December 2020 and serves more than 1.3 million customers throughout Cambodia.
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.