Maybank named among Cambodia’s best banks

L-R: Ms Qazreen Chan Abdullah and Dato’ Mohd Hanif Suadi, (Maybank Cambodia), H.E. Dr Hang Chuon Naron, H.E. Kim Sethany and H.E. Dr Sann Vathana (Ministry of Education, Youth & Sport), at the CashVille Kidz Financial Literacy animated series handover ceremony. Supplied

Maybank Cambodia has been recognised as one of the best banks in Cambodia after receiving five major awards including international honours for the year 2020.

The bank has been chosen as the “Best International Bank” in Cambodia for the year 2020 by Asiamoney, a financial publication, while Global Banking Finance Awards 2020 recognised Maybank as the “Best Retail Bank” and “Best CSR Bank” in Cambodia.

Dato’ Mohd Hanif Suadi, CEO of Maybank Cambodia, said that these recognitions highlights Maybank’s sustained efforts in building closer relationships with its stakeholders and focusing on delivering consistent value through all its products and services.

“By staying true to these values, we continuously drive the Cambodian banking industry, and constantly prioritise our customers’ financial security and communities’ well-being in everything we do, to ensure that we provide a consistent brand experience for all,” he said.

Maybank staff serving customers at the Phnom Penh Main Branch. Supplied

In October 2020, Maybank Cambodia has also received another honourable recognition by the Retail Banker International Asia Trailblazer Awards 2020 with the “Best Retail Bank – Cambodia” and “Best CSR Initiative” awards.

Among the best features of the bank which lead to international recognitions are the FX services, Maybank2U (M2U) mobile app and Maybank 2E cash management solution.

Maybank Cambodia’s FX services, is a domestic market maker for all currencies. It has the capability to provide real time FX quotes to local banks in Cambodia, as well as fast regional solution and excellent front-to-end and post sales services.

The digital platforms such as Maybank2U (M2U) and Maybank2E (M2E) cash management solution are providing the next-generation customer experience given that technology is rapidly influencing everyone’s lifestyle and the way people perform banking today.

The M2U mobile app ensures consistent and delightful experience for all Maybank customers. Records have shown that monthly transaction volume has increased 42 percent while there is a 10 percent increase for the user-base record.

Meanwhile, M2E’s has enhanced host-to-host capabilities which facilitated many businesses and registered a 36 percent growth of customers signing up. The transaction growth has doubled with 52 percent client active rate and a transaction value of 78 percent.

Another huge breakthrough which Maybank Cambodia has accomplished for the year 2020 was the signing of a Memorandum of Understanding (MOU) between the National Bank of Cambodia to pursue cross-border payment and remittance between Cambodia and Malaysia. This initiative aims to enhance payment system at both the domestic and regional level which enables both institutions to reach another level of financial cooperation, further leveraging technology to benefit the people between the two countries.

The collaboration’s target is to contribute to the promotion of trade activities and financial inclusion in Cambodian and Malaysia. This is leveraging Bakong, an innovative payment system using block chain technology which was recently launched by the National Bank of Cambodia and Maybank’s world-class M2U digital platform.

2020 was an unprecedented and challenging year, and while the business operating environment has witnessed some improvement in most parts of the world, flexible and responsive leadership style adopted by Maybank earlier in 2020, enabled the bank to mitigate risks and challenges presented against a rapidly changing macro-financial backdrop.

“Our regional strength, brand reputation and mission of humanising financial services have been the driving force in cultivating engagement platforms that connect with our stakeholders as well as positively impacting the communities we serve,” said Mohd Hanif.

Since the start of the COVID-19 outbreak, the bank was able to perform various initiatives to help alleviate the strain on the communities impacted by the pandemic.

Contributions were made to the Royal Government of Cambodia, supporting the Government’s initiative to combat the spread of COVID-19 as well as provided financial relief schemes in the form of restructuring and rescheduling (R&R) of financing facilities, and moratorium on loan repayments for impacted customers.

Maybankers participating in a mulberry tree planting activity under the Maybank Women Eco Weavers program. Supplied

More than 250 Cambodian women weavers were trained under the Maybank Women Eco-Weavers programme in collaboration with ColorSilk, a social enterprise. They were able to produce over 110,000 hand-woven face masks made of pure cotton and silk to help limit the spread of the COVID-19 in the region. The initiative helped to ease the pressure on the demand for surgical masks, primarily reserved for medical professionals and health care workers as well as to counter the increase in price of face masks.

The Ministry of Education, Youth & Sport (MoEYS) has also collaborated with Maybank in providing masks and resume education services while taking the necessary precautions to protect students, teachers, staff and their families.

“Being deeply rooted in the communities we serve, we believe our success is inherently tied to our communities’ achievements, which is why our stakeholders’ needs and experience will remain a key priority for us,” said Mohd Hanif.

Maybank’s award winning CashVille Kidz Financial Literacy Program was featured on the MoEYS’ digital learning platform to further support the government’s efforts in uplifting the level of financial literacy among the people.

Mohd Hanif added: “We dedicate the awards to our customers, employees and all stakeholders for their support, trust and confidence in Maybank Cambodia.”

These awards have demonstrated the leading role of Maybank Cambodia in driving economic growth and helping communities progress towards a sustainable future. Its strategy focuses on areas where it believes it can make a significant difference in fulfilling its customers’ and communities’ ambitions, supporting businesses – big and small to succeed in Cambodia and beyond as well as empowering its employees.

Source: Khmer Times