Phnom Penh Commercial Bank (PPCBank) plans to expand its ‘coffee banking’ concept into its branches in Phnom Penh after experiencing tremendous success in the opening of ‘Socials Coffee,’ a coffee shop inside the newly revamped Boeung Trabaek (BTB) branch and the Orussey district.
For in depth analysis of Cambodian Business, visit Capital Cambodia
Socials Coffee, founded by Swapnil Deshmukh, a former banker, is focused on offering entrepreneurship and employment opportunities for deaf people in the country.
“PPCBank is building a new business model which enhances customer experience by providing flexibility and easiness with a unique banking practice in Cambodia,” said a media release yesterday.
While enjoying Socials Coffee, which is tucked inside PPCBank’s branch, customers can enjoy banking with Mobile-Teller services without having to queue at counters.
PPCBank staff will approach customers with tablet in hands to help customers with their transactions, including account opening, interest rate calculator for deposits, interest rate simulation for loans and event property prices and other banking services.
Shin Chang Moo, president of PPCBank, said the bank’s new concept will save customers time and make their transaction efficient and pleasant.
Asked about the expansion of the concept in other PPCBank branches, Mr Shin said, “The bank have plans to expand in the city, but we are not sure we’re going to use this concept for all the branches. Some branches have their unique set of customers with their own preferences. I am not sure the model can work in other provinces.
“The two branches offers 50 percent banking services and the other 50 percent are for the coffee shop. The BTB branch is the first branch where we tried to bring the new concept of banking that is combining and mixing banking with a coffee shop.
“The concept is proven successful in European countries, and in the US and Vietnam,” Mr Shin added.
Mr Swapnil said as a social enterprise, the bank wanted to do things dedicated to the society. “We want to help deaf people, so half of our staffs are deaf people, which is a very unique concept.
“Next year we will open a few branches. Some will be inside PPCBanks and some will be in universities and co-working spaces,” he said.