ACLEDA expanding its digitalisation strategy in 2021

ACLEDA Mobile app’s users can withdraw money through ATMs and transfer money nationwide without service fees. Supplied

ACLEDA Bank Plc, one of the largest commercial banks in Cambodia, announced that it is boosting and expanding its self-automation post banking services as part of its focus on digitalisation in the Kingdom.

The bank’s President and Group Managing Director, In Channy, told reporters following ACLEDA’s 2021 strategic implementation meeting in Siem Reap last week that over the next five years, the bank will continue its strategic upgrade and development of its digital infrastructure.

“In our meeting, we discussed our action plan and strategies in providing better services to our customers. We are always thinking about how to serve them, both those in the general public and in the private sector,” Channy added.

“We are now focusing on digital infrastructure that reduces the need for additional staff at the counter, which will allow our existing staff to be more productive,” he said.

Late last year, in order to better serve customer needs, the bank changed its mobile application interface to enhance its capabilities with the latest developments in global financial technology.

“The new ACLEDA Mobile interface provides convenient, fast and highly secure banking transactions. It also reduces costs and saves customers time since they no longer need to physically go to a branch to conduct most of their transactions,” said Channy.

ACLEDA Mobile’s new look incorporated the latest technology into the app, equipping it with rich banking functions that essentially turned it into a real, albeit hand-held, bank. The integration of new banking services into ACLEDA Mobile has been achieved to a degree other banking apps have yet to match in terms of features.

Users of the app do so now with no monthly service charges. Additionally, withdrawals from ATMs and transfers to other ACLEDA account holders are exempt from fees. Customers are also able to transfer or deposit funds of up to 40 million riels ($10,000) into their digital wallets.

“All transactions with ACLEDA Mobile are free of charge. ACLEDA Mobile is easy, attractive and modern and frees customers of the need to carry cash,” he said.

Channy added that the number of the bank’s depositors is expected to rise to 3 million soon from its last released figure of 2.5 million. He noted that the ACLEDA Mobile app user base, last measured at 1.7 million subscribers, has been increasing daily since the bank eliminated the service fees.

“Before, the use of ACLEDA Mobile stood at only 40 percent of our customer base. It is now at 50 percent. Previously, we had only 10,000 merchants using it and now we have more than 50,000 merchants among our users,” Channy said.

He added that the expansion of self-automation services will contribute to customers being able to bank where and when they want.

Last year ACLEDA had 20 locations of self-automation posts countrywide, a number that will increase to 50 in 2021. Channy noted that in 2020, ACLEDA transactions were predominantly conducted via its mobile app rather than at bank counters (82 percent versus 18 percent respectively).

This is attributed to ACLEDA’s Mobile customers being able to check account information, make money transfers, top-up various services (including phone and internet data accounts) and make purchases of goods and services with the use of QR codes anywhere and anytime. Khmer Times