ABA Bank
When it comes to combining banking and innovation in Cambodia, one doesn’t need to look any further than ABA Bank. With chief executive Askhat Azhikhanov in the hot seat, the firm has made bringing new technology to Cambodia’s financial sector a priority. Case in point: it was the first to launch a full-scale mobile banking app in Cambodia in 2015.
Today, the ABA mobile app is a force to be reckoned with. The number of transactions made on the app jumped to 250 million last year, from 100 million in 2020. The value of these transactions hit a hefty $123 billion last year, four times the size of Cambodia’s GDP. To cater to clients in the right way, ABA unveiled a number of new features last year, including instant account opening, an ID feature, card-to-card transfer options, QR cash withdrawals and salary loans.
The result was a spike in the number of app users to 1.7 million last year, up 78%.
Another innovative success is PayWay, ABA’s online payments gateway for merchants which was launched in 2017.
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