Silverlake Axis, a Malaysian-based banking technology company aimed at providing modern solutions to financial problems, is working to improve banking in Cambodia.
It held a workshop titled ‘Connecting to the World of Fintech’ at the Malaysian Embassy in Phnom Penh yesterday.
“Today’s digital innovations are creating unprecedented new business opportunities, where competition is moving faster than ever, with the banking industry focusing on embracing the best available technology to propel their businesses forward and thrive,” said Andrew Tan, group managing director of Silverlake Axis, at the event.
“Banks and financial institutions are looking to technology vendors to take the lead in enabling innovation and solving their business transformation challenges. These challenges vary with each bank hence we understand that having different innovative solutions to meet different needs is vital,” he added.
Silverlake Axis has a presence in more than 80 countries around the world.
The workshop event was attended by His Excellency Eldeen Husaini Mohammad Hashim, Ambassador of Malaysia to Cambodia, and Dr Khou Vouthy, deputy director-general of the National Bank of Cambodia.
Several banks, including CIMB Bank Cambodia and RHB Indochina Bank Ltd, and other key players in the banking and financial technology (fintech) sector also participated in the workshop.
Silverlake Axis hopes to introduce different methods and strategies to further empower the financial sector to capture a higher number of customers as well as help firms adopt new fintech.
The workshop seeks to help participants accelerate the growth and impact of their businesses through the use of cutting-edge fintech to gain a competitive edge in the marketplace.
Ambassador Eldeen Husaini said, “Cambodia is at an inflexion point where it can reap the benefits gained from the inclusion of technology into the banking and finance sector.”
He went on to add that with 78 percent of the population unbanked, 13 percent using mobile payments and 3 percent owning a credit card, there is a vast opportunity and market for banks to bring on board new customers through robust and up-to-date banking methods.
‘Straight Through Banking Platform,’ the company’s flagship product, is a reliable and high-test system that has become the main platform for some of the largest banks in Asean.
The platform aims to provide a complex process to accommodate the handling of large amounts of data without compromising performance.