Cambodia Investment Review

Leader Talks: Luke Wang on Developing Cambodia’s Financial Software Infrastructure

Leader Talks: Luke Wang on Developing Cambodia’s Financial Software Infrastructure

Harrison White

Luke Wang, Chairman of Phnom Penh Financial Info (PPFI), spoke to CIR Leader Talks sharing his insights on the company’s role in Cambodia’s developing fintech sector. PPFI, a joint venture of Taiwanese-based JEPUN, which has been involved in introducing the system for trust management and mutual fund outsourcing business in Cambodia, their shareholder serves a wide array of clients including mutual funds, banks, insurers, and security brokers in Taiwan and China. With a history spanning 28 years and over 400 project management experiences, the company is at the forefront of reshaping the financial software landscape.

Luke began by sharing his views on the evolution and current state of the Cambodian financial software market. “PPFI has been a key player in this market for more than two decades,” Luke stated. “Despite being relatively young, the Cambodian financial market is experiencing robust growth and development.” He attributes this to its strategic geographical position and a conducive investment environment. “These factors have drawn numerous international financial institutions to the country, introducing global financial expertise and practices to the market,” he added.

Expressing confidence in PPFI’s readiness to cater to this expanding financial market, Luke said, “As a leading fintech firm in Cambodia, PPFI is preparing to offer high-quality services to meet the growing demand for fintech services.” This demand, Luke anticipates, will be propelled by the arrival of foreign financial institutions and the modernization of financial practices.

Unique contribution to Cambodia’s fintech transformation

Luke then highlighted PPFI’s unique contribution to Cambodia’s fintech transformation. “We not only provide top-notch financial software but also boast a strong team of financial advisors,” he stated. “These advisors offer essential professional consulting services, which are as crucial as the technology itself. This dual offering of technology and consulting is what sets PPFI apart in the Cambodian fintech landscape.”

Read more: CIR and Trust Regulator Sign Landmark Agreement to Raise Participation in Cambodia’s Trust Market in English Language Media

Turning his attention to the potential of the Cambodian derivatives market, Luke acknowledged the existence of several challenges. “There is a need for improved financial literacy among investors, a demand for more skilled professionals in the market, and the necessity to enhance market liquidity,” he said. However, Luke was quick to point out that these challenges do not overshadow the numerous opportunities that exist.

Luke Wang Luke Wang, Chairman of Phnom Penh Financial Info & Sok Dara, Director General of Trust Regulator of Cambodia.

He identified the country’s rapid economic growth, advancements in financial infrastructure, increasing demand for risk management tools, and the potential to attract foreign investors as strong factors in favor of the derivatives market. “The proactive role of the Securities and Exchange Regulator of Cambodia (SERC) in establishing a robust regulatory framework, promoting talent development, and enhancing investor education is instrumental in overcoming the challenges and capitalizing on the opportunities in the derivatives market,” he added.

Revolutionize trading in Cambodia’s derivatives market

Luke then introduced “EzQT,” PPFI’s innovative fintech solution designed to revolutionize trading in Cambodia’s derivatives market. “EzQT is not just a trading tool but a facilitator that streamlines business processes and regulatory compliance,” he explained. “The platform, designed to enhance trading efficiency and customer engagement, adheres strictly to regulatory guidelines, making it a practical and user-friendly tool for all types of traders.”

Luke also touched on the impact of changing regulations in Cambodia on PPFI’s operations. “Balancing local context-specific regulations with international best practices is crucial in navigating the evolving financial ecosystem,” he emphasized. As part of PPFI’s commitment to sustainability and global best practices, Luke introduced the “E-FLOW” approval system. “This system enables paperless operations and represents the company’s commitment to environmental conservation,” he stated.

In conclusion, Luke outlined PPFI’s future goals in the Cambodian fintech sector. “Our aim is to continue leading the fintech revolution in Cambodia by integrating innovative technology, deep industry expertise, and a strong commitment to regulatory compliance,” he said. His comments underscore PPFI’s dedication to advancing fintech in Cambodia, painting a promising picture of the country’s financial future. “Adapting to global trends and combining them with localized needs is the key to navigating the evolving financial ecosystem,” he reflected. His words, filled with enthusiasm and confidence, underline the company’s unwavering dedication to fostering the growth of fintech in Cambodia, setting a positive tone for the nation’s financial future.

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