Next stage of RHB Indochina – digitalisation

Sangeetha Amarthalingam / Khmer Times No Comments Share:
Corporate social responsibility is the heart of RHB Indochina’s journey in Cambodia. RHB Facebook

In the face of fast-moving financial technology, RHB Indochina Bank Ltd aims to be the market leader in Cambodia as it rides on digitalisation by officially launching its mobile banking app here on its 10th Anniversary here.
Mr Khairussaleh Ramli, RHB Banking Bhd group managing director and RHB Indochina chairman, said the launch is a sign of progress and continued commitment of its presence in Cambodia.

The app offers simple, fast and seamless banking experiences, enabling customers to view their account online, pay bills, transfer funds, mobile reloads, and transfer cash through RHB Pay Anyone using email, phone or Facebook account without the need for a bank account number.

“Since the (soft) launch of our internet banking platform in September last year, we now have more than 4,000 active users. We will continue to enhance our mobile app to feature more conveniences for our customers, especially when mobile phone penetration in Cambodia is highest at 50 percent,” he said at the anniversary celebration.

Seeing that there is a fairly young population, RHB Indochina introduced a desktop and mobile version so that customers can transact and see an overview of their accounts in dollar or riel, make deposits and savings, conduct intrabank and interbank fund transfers, and do mobile reloads to cater to the prepaid driven society.

It also introduces a new feature called `RHB pay anyone’ in which the account holder can transfer money to the recipient by identifying their phone number, Facebook or email address.

“The account holder (only needs) to log into the account, and identify any of the three options where the notification would be sent to enable the transfer to the account using a `secret key’ (password). This would be popular among youngsters. We hope the ‘pay bill’ feature would also encourage people including older persons to open accounts,” Mr Khairussaleh said. In addition, RHB Indochina expects to launch its e-wallet app where payments are effected by scanning the quick response (QR) code at participating merchants next year. It aims to partner with major players in the market that are able to provide these features.

“We are still in talks as it involves technical enhancements from our head office, system integration and obtaining regulatory approvals from the National Bank of Cambodia. However, we target to launch next year,” said RHB Indochina managing director and chief executive officer Lim Loong Seng.

Mr Lim said the bank became the market leader even when it set foot in Cambodia 10 years ago by introducing automated teller machines that allow customers to withdraw either in dollars or riel.

“The system could do conversion, and even today we are one of the few (banks) that has it. In 2008, we brought in ATMs with options to withdraw cash, deposit cash or cheque, as well as currency conversions. It was a novelty,” he added.

Meanwhile, Mr Khairussaleh applauded the Cambodian government for its good economic growth over the last decade with GDP at an average annual rate of seven percent since 2011. He noted the significant role that small and medium enterprises (SMEs) played in economic development, contributing 40 percent to 50 percent of total employment and business activities in the Kingdom.

“As a multinational financial services group with regional presence spanning nine countries across Asean, Hong Kong and China, RHB is in a strong position to support SMEs, giving access to financing and opportunities for business linkages and networking via organised trade missions to key markets where RHB has presence. “We are pleased to be able to play a role and contribute towards the growth of SME businesses in Cambodia and we will continue to build an ecosystem that supports the development and expansion of SMEs’ businesses here,” he added.

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