PHNOM PENH, 30 October 2019 – Prince Bank has officially become a
partnering institution with Bakong System, a digital payment application
created by the National Bank of Cambodia (NBC).
Prince Bank is proud to be official member of Bakong app—it is an
example of how leveraging technology can be used to create a seamless banking
experience for customers. This is
especially promising as Cambodia is hoping to make it easier for un-banked
populations to access and use financial services. With Bakong, Prince Bank customers
will find it convenient to perform inter-bank transfers in a quick and safe
manner. Non-Prince Bank customers can
also visit any of our branches to perform cash-in and cash-out
transactions.
Prince Bank joins Bakong’s network of financial institutions as a
way to help customers simplify their banking transactions. With just a smart phone, merchants, financial
institutions, and customers can all be connected on a single platform. It is fast and easy to get started. After downloading the app from either the
Apple or Google Play store, register your account by selecting only one bank
account to designate as your main account.
Provide the personal information required and create unique log-in
options that are encrypted and secure.
Integration
Bakong is an ‘All-in-One’ mobile app that integrates
the following features:
· E-wallet
· Mobile payment
· Online banking
· Financial applications
Bakong helps streamline transactions to send, pay, deposit, and receive
funds. These transactions are made from Bakong’s
wallet-to-wallet or wallet to CASA (Current and Savings Accounts) accounts of
participating banks within the network.
The increasing number of cooperating financial institutions indicates
that the app is well-received by Cambodia’s banking sector.
Facilitating
Funds Transfers
Another area in which Bakong addresses
inefficiencies is by way of inter-bank funds transfers. According to His Excellency Chea Chanto,
Governor of NBC, Bakong can facilitate interbank transfers on a local as
well as regional level by helping to alleviate the concern of high remittance
fees.
Continued
Collaboration
Prince Bank looks forward to continued
collaboration with NBC by being part of a solution that encourages Cambodians to
easily access financial services.
To take advantage of all the features and
benefits of Bakong, please download the application from the Apple Store
(https://apps.apple.com/us/app/bakong/id1440829141) or the Google Play Store (https://play.google.com/store/apps/details?id=jp.co.soramitsu.bakong).