Events Calendar

A Wonderful Conclusion to Singapore FinTech Festival 2018

A Wonderful Conclusion to Singapore FinTech Festival 2018

It has got to be the most impressive series of the SG FinTech Festival! 3 months after the launch of the Cambodia Fintech Association, we are so proud to have brought the Cambodian Fintech (CFA) to the world stage where 35,000+ participants from across 100 countries and 400+ Fintech companies, banks, insurances, regulators, investors exhibits and gathers.

It was a series of non-stop meetings with partners and Fintech friends in the industry and what a rare chance to catch the LIVE keynote moments from Christine Lagarde and Narendra Modi.

We were also honoured to have H.E Mdm Chea Serey grace the CFA exhibit area to understand the Fintech companies’ innovation from Peer to Peer Lending (SeedIn Technology), Payment Platform (Clik), Remittance (Wing) to Blockchain Solutions (Panzer Technology and Limestone Network).

Till next time. See you again in 2019!

#CambodiaFintechAssociation #SFF

Cambodia Fintech Association will be at Singapore FinTech Festival at Booth 1L19!

Cambodia Fintech Association will be at Singapore FinTech Festival at Booth 1L19!

Cambodia Fintech Association is participating in the Singapore FinTech Festival which spans across 5 days, from 12 to 16 Nov. We have with us 4 sponsors who will be showcasing their company. They are namely:
  • Clik
  • Panzer Tech
  • SeedIn
  • Wing

To view all our featured companies, click here.

The exibitions will be from 12-14 Nov, daily from 10am to 6pm. To join us at the FinTech Festival, get your passes now.

An Interview with Bernard Teo from YouAdMe

An Interview with Bernard Teo from YouAdMe

Tell me a little bit about yourself.

Born and bred in Singapore, I had a strong foothold in the Media and Entertainment industry for 20 years. I started my entrepreneurship journey with a Digital Media Agency in 2008, amassing an array of homegrown and International brands under my belt. I further propelled my digital media solutions into Cambodia 2 years ago.

In your 1 min elevator pitch, how would you best describe your Fintech Solution?

Today’s retail is going through difficult times and is suffering the consequences of the digitisation of society. Fundamentally, there is a bigger problem: stores cannot keep up with the changing behaviour of consumers who are connected 24/7. Retailers urgently need to innovate if they want to stay relevant in a world dominated by online marketplaces and sharing platforms.

Technology and innovation are the drivers for FinTech, but the future of FinTech lies in ability to sustain businesses long-term. YouAdMe helps to improve businesses by connecting retailers directly to consumers, allowing smarter decisions through sharing of feedback so businesses can deliver a higher standard of service to consumers, facilitating high value and recurrent transactions within a single platform.

What inspired you to start YouAdMe?

YouAdMe was not born out of the blue. It was an idea that evolved from my original intention to create value for businesses and consumers.

Having witnessed the transformation of the media landscape, and the automation of the media industry with technology, I felt that regardless of the platform, digital or traditional, media was built for one thing – communication. I wanted to reignite the conversation between brands and consumers, for a sustainable long-term solution and value add to the buy and sell marketplace that ultimately existed to cater to customers.

What did you wish you knew before you started your first business?

Too many cooks spoil the broth. Business partners may share the same goals, but if your values are not aligned, it is very difficult for the business to move forward.

How do you see the current Fintech industry and what do you think of it in the next 5 years?

Fintech is no longer exclusive to the financial sector. In the past, people would associate the term ‘Fintech’ with financial institutions. However, today, with the automation of goods and services, Fintech is a term widely heard and implemented in all areas of our lives. Fintech is technology and innovation used to make our lives easier with seamless transactions. I believe that in the next 5 years, Fintech wouldn’t even be a term but would have become a way of life.

What was the greatest challenge you’ve faced with this start-up?

To identify the best vehicle for Fintech innovation and high quality user experience.

If you had one piece of advice to someone just starting out, what would it be?

Many people think that the hardest part of a start-up is fund-raising, so much that they lose sight of what the business sets out to be. It is important to stay focused on creating value. Because when you create true value, your business becomes a need for society, and not some fancy ideal to cater to the businessman’s ego.

An Interview with Khemara ROS from Kiu

An Interview with Khemara ROS from Kiu

Tell me a little bit about yourself.

I have over 13 years of professional experience in economic and private sector development with in-depth knowledge about political economy, investment and business environment in Cambodia and countries in the Mekong sub-region. Through my career, I have designed and led various IFC’s technical assistance projects to improve business environment and SMEs’ access to finance in Cambodia. Key achievements include: the establishment of the first commercial arbitration centre in Cambodia, the enhancement of collateral registry system, the introduction of movables lending culture in Cambodia banking sector.

For the last three years, I have served as a Regional FinTech Advisor at DFAT-ADB’s Mekong Business Initiative Program, playing an active role in promoting innovation and entrepreneurship through working directly with business and start-up communities in CLMV. I am the CEO of a FinTech firm Kiu (Camboodia) Co., Ltd.

In your 1 min elevator pitch, how would you best describe your Fintech Solution?

Kiu cooperates with Financial Institution(FI) partners to provide a better SMEs working capital financing using data and automated credit scoring machine. We provide a complete Enterprise Resource Planning (ERP) solution for SMEs. Our simple to use but very powerful ERP system collects transactional data for our SMEs. With the data credit scoring engine we are able to assess the credit worthiness of the SMEs within seconds. Integrated with Artificial Intelligence(AI), our engine allows us to look at financial ratios, non-financial ratios, credibility of the directors/management team, and detect possible fraud. It helps our financing partner to reduce the cost of credit assessment by 60-75%, thus allows them to offer better financing products to their clients.

How do you see the current Fintech industry and what do you think of it in the next 5 years?

The Fintech scene in Cambodia, as well in the whole region is very dynamic. We see regulators who are proactive and supportive of the development of Fintech. We see banks and financial institutions looking to support and cooperate with fintech players to provide them with better services, reduce cost and improve efficiency. I believe the Fintech industry will be very well developed here in the next five years and this will support the growth of other relevant industries as well.

What was the greatest challenge you’ve faced with Kiu?

We have only just started out but have already experienced a nice surprise. There are many Cambodian SMEs who are willing to use the ERP. They embrace the technology and see the benefits of the innovation. However, the challenges remain and the greatest one is that these SMEs still need a lot of support to be able to implement the ERP system successfully. Many are in need of significant support in basic accounting.

When it comes to the company, what are you most proud of?

I am most proud of my products and my team. I can confidently say that we have the most intuitive platform in the market. We offer latest technology and we are able to provide customised solutions in almost every module and in every step of the business transactions. Our pricing and packages allow us to serve businesses of various sizes, from a small coffee shop to a multi-million-dollar manufacturing business. Our team is amazing, I have a strong group of young, committed and dynamic team member who are doing the best they can to provide the best solution for the clients round the clock.

If you had one piece of advice to someone just starting out on their Fintech entrepreneur journey, what would it be?

Fintech is different from other kind of start-up. To be successful, we need support and cooperation from many different players in the market ranging from individual clients to financial institutions. The credibility and reliability of a technology is important, but the ability to integrate and cooperate are also very critical.

An Interview with Sophorth Khuon from Morakot

An Interview with Sophorth Khuon from Morakot

Tell me a little bit about yourself.

My name is Sophorth. I am the CEO and Co-founder of Morakot Technology. I am 38. I am from Cambodia.

In your 1 min elevator pitch, how would you best describe your Fintech Solution?

Morakot provides corebanking software for Microfinance Institutions and Banks. The system can be implmented on cloud-based or on-premise server with built-in accounting system and support multi-branch.

What inspired you to start Morakot?

Making core banking software accessible and affordable by Microfinance Institutions and help them provide innovative services to unbank customers, eventually improve the financial inclusion as a whole.

What did you wish you knew before you started your first business?

We wanted to know if our product fit to the market? Is there any demand out there? What would be the best pricing structure we could offer?

How do you see the current Fintech industry and what do you think of it in the next 5 years?

The current FinTech industry is growing pretty fast. Majority of them are in payment service and e-wallet sectors. In the next 5 years, the unbanked people will use FinTech to access financial services. Cambodia could go cashless.

What was the greatest challenge you’ve faced with this start-up?

Hiring a good resource.

If you had one piece of advice to someone just starting out, what would it be?

Being an entrepreneur is tough, but it’s fun. It accelerates your learning curve like never before. You will understand about who you truly are.

To be a successful entrepreneur you must start with what you really love to do. This is called passion. Passion will keep you moving forward regardless of obstacles. You have to get the right partners or co-founders. This helps a lot in your entrepreneurial journey especially when you are in trouble. You need someone to talk to, and the best person to talk to is the one who sits in the same boat as you.

Focus on one thing at a time. Put all your energy on that one-thing and make it move forward. This is more likely to give you success than doing too many things at the same time. Watch your cash flow. Most startups fail because of poor cash flow management. Control your burning rate and maximize your earning.

Official Video of Cambodia Fintech Association Launch

Official Video of Cambodia Fintech Association Launch

Here’s the long awaited official video of our inaugural launch on the 15th of August 2018 at Rosewood Hotel, Phnom Penh.

We thank everyone who came, and all our online supporters for being a part of this milestone event!

An Interview with Matthew Tippetts and Skye Cornell from Clik

An Interview with Matthew Tippetts and Skye Cornell from Clik

Tell me a little bit about yourself.

Matthew: Born in Switzerland to British parents, my mother coming from Trinidad with Polish and Indian ancestry, that’s why I don’t look so British. Grew up in the South of France, graduated from Babson College in the US with a major in Entrepreneurship and investments. I started my career in London as a tech investment banker, then got an MBA from INSEAD, and worked for the hedge fund Citadel where I was responsible for a TMT portfolio. I’ve been in Cambodia for nearly 8 years.

Skye: I grew up in Australia, a country with excellent financial inclusion – 98% of the adult population has access to financial services. I studied Multimedia Design, started my own business when I was 20, and completed my Masters in Business/Marketing concurrently. I’m half Khmer so when I received the opportunity to help start Clik and improve regional access to financial services in Cambodia, I jumped straight in and have been loving it ever since.

In your 1 min elevator pitch, how would you best describe your Fintech Solution?

Today, brick and mortar merchants lack the data insights into their customer bases online businesses have and also have to deal with the costs and risks of cash transactions while managing a fleet of antiquated payment terminals.

Our solution provides consumers with an app that transforms payment into a seamless, safe and simple experience. Our merchant app is a revolutionary mPOS solution capable of processing any digital payment, including: our wallet, Visa, Mastercard, UnionPay, Alipay, WeChat Pay, G Pay, Apple Pay and any other wallet. This solves the problematic fragmentation of the payment market, making things much easier and safer for merchants to manage.

We are capable of providing un-precedented customer insight to merchants, something that up until now only online businesses could access. Finally, we provide merchants loyalty and message marketing tools to act on this customer insights- helping them secure, improve and personalise their services by leveraging our AI and ML capabilities.

Our ultimate objective is to enable merchants to market the right product to the right customer, at the right place and at the right time to both grow their profits and also provide customers with a rewarding and personalised experience.

What inspired you to start Clik?

Observing the market we thought that brick and mortar merchants were not properly serviced by their payment providers. So, 2 years ago we ran one of the largest market studies, speaking to close to 1,800 merchants ($1bn of revenues) and over 1,000 consumers to understand how they do payments, what their problems are, what is important to them, and more. It confirmed our thesis that Cambodia wants better digital payment services and that the timing is right. From there we assembled an amazing team and designed our service to solve their problems – and that’s how Clik started.

What did you wish you knew before you started your first business?

Matthew: I wish I had chosen my business partners more wisely.
Skye: Networking! As an introvert it took me a long time to learn.

How do you see the current Fintech industry and what do you think of it in the next 5 years?

The industry is entering an incredibly transformative phase, where we’re seeing amazing applications of artificial intelligence, machine learning and blockchain – innovation fuelled by un-precedented amounts of capital while posing interesting regulatory challenges. These are really exciting times, impacting habits and improving the lives of billions of people.

In the next 5 years blockchain technology will mature and find itself in many applications, transactions costs will go close to $0 (as most causes for transaction losses will be drastically reduced thanks to fraud prevention) and the wallet will disappear into the background as transactions become seamless, like conversational commerce.

What was the greatest challenge you’ve faced with this start-up?

Raising funds.

If you had one piece of advice to someone just starting out, what would it be?

Matthew: Do you want to fail because you didn’t try hard enough? If you believe in it, then try as hard as you can.
Skye: Surround yourself with people you trust – whether it’s partners, employees or other businesses. You can do so much more with their support.

BTV – Cambodia Fintech Association Official Launch

BTV - Cambodia Fintech Association Launch

CNC – Cambodia Fintech Association Official Launch

CNC - Cambodia Fintech Association Launch

CTN – Cambodia Fintech Association Official Launch

CTN - Cambodia Fintech Association Launch