Wing (Cambodia) Limited Specialised Bank, Cambodia’s leading mobile banking service provider, yesterday signed an agreement to allow users access to accounting platform Banhji.
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Banhji Fintech Co., Ltd is a company providing accounting solutions tailored to Cambodian small businesses.
Wing’s SME customers have now free-of-charge access to Banhji’s accounting system.
‘Banhji’ means ‘accounting’ in Khmer. The company provides small businesses with a financial platform and a set of applications that facilitates accounting and tax filing. Banhji says about 3,000 SMEs use its platform.
About 5,000 SMEs in Cambodia use Wing, according to the company.
“Despite facing unique challenges when it comes to managing their finances, SMEs are significant contributors to Cambodia’s economic strength,” Wing CEO Jojo Malolos said at the agreement signing ceremony.
“Wing is here to ease this burden so they can focus their attention on growing and expanding their businesses,” he added.
“The key to our success is also that we have always done things differently but with the same objective, which is to provide all Cambodians with convenient, relevant and accessible financial services.
“Wing is pleased to announce its partnership with Banhji, an innovative company that shares our values in doing things differently,” said Mr Malolos.
Sim Chankiriroth, Banhji CEO, said the partnership with Wing will open the door to vast and exciting opportunities for thousands of businesses in the country and that Banhji is looking forward to a positive digital transformation in the SME environment.
“We hope that the pathway we are building right now will inspire other companies across the country to continue introducing innovative products and services benefiting Cambodia’s SMEs. This is due to the fact that these thousands of small businesses will play a significant role in setting up the future of Cambodia’s economy,” said Mr Chankiriroth.
According to a press release issued during the ceremony, Wing is working with the Ministry of Industry and Handicrafts to digitalise the SME license payment.
The service is expected to be available at over 6,000 Wing agents nation-wide and through an upcoming government website.