Cambodia Investment Review
ABA Bank, the largest commercial bank in Cambodia as measured by total assets, gross loans, customer deposits, and profitability, has been awarded the Best Digital Bank in Cambodia for the year 2023 by International Finance Magazine, a UK-based premium business and finance publication. This prestigious recognition underscores the bank’s robust growth and transformative role in digital banking within the Cambodian financial landscape.
Distinguished for its continuous innovation, intuitive user experience, and strong customer relationships, ABA Bank’s digital banking services are distinguished as unparalleled in Cambodia. The accolade comes on the heels of the bank’s recent efforts to further disrupt the Cambodian market with a new version 5.0 of its ABA Mobile app, designed to offer a more personalized user experience. The updated app allows customers to customize their main screen with various widgets, backgrounds, and icon packs, providing a tailored banking experience. It also features adjustable font sizes for enhanced accessibility and allows users to switch between light and dark modes seamlessly.
Read more: ABA Bank teams up with MoEF to foster Kingdoms Digital Economy and FinTech Development
In a move that demonstrates the bank’s focus on payment options and business solutions, ABA has considerably extended its KHQR payment network, in line with the National Bank of Cambodias standardization of QR Codes benefiting over 600,000 offline and online merchants as well as promoting the use of mobile retail payments across the Kingdom. The bank’s ABA Merchant app, aimed at facilitating cashless transactions and providing businesses of all sizes with money management solutions, has seen a 59% uptick in active users over the past year. This leap is indicative of ABA’s commitment to offering seamless and efficient payment solutions to its customer base.
The bank hasnt stopped at individual solutions; its ABA Business banking platform has received extensive upgrades to provide faster, more innovative, and secure online banking for businesses. These services are comprehensive and accessible anytime and anywhere, underscoring the banks commitment to becoming a one-stop financial services provider.
Further elevating its standing, ABA Bank has made significant investments in bolstering its IT infrastructure. By integrating solutions and technologies from globally recognized providers like CyberArk, CrowdStrike, Cloudflare, Palo Alto Networks and others, the bank ensures robust protection against cyber threats and safety of its customers accounts. In addition to this, ABA Bank is certified by PCI DSS, which affirms the highest level of security for online transactions, safeguarding sensitive cardholder data.
Commenting on the award, Zokhir Rasulov, Chief Digital Officer of ABA Bank, said, “We are honored to receive this prestigious award from International Finance Magazine. At ABA, we strive to be at the forefront of digital banking innovation in Cambodia, and this acknowledgment further motivates us to continue pushing boundaries and delivering outstanding financial solutions that make our customers lives easier.”
International Finance Magazine lauded ABA Bank for its exceptional service quality, innovation, functionality, user-friendly interface, and strong customer relationships in its digital banking operations. “ABA Bank bagged this prestigious award for its comprehensive strengths in digital banking, marking it as a well-rounded leader in Cambodias banking and finance industry,” noted the magazine editor.
