Events Calendar

JOINT STATEMENT

JOINT STATEMENT

Since the inception of the Cambodia Fintech Association in Aug 2018, we have rallied a community of 80 fintech companies to join us as members and we are proud to be able to bring international exposure (Philippines, Singapore, Taiwan ROC and Thailand) and awareness both into and out of Cambodia.

This also cannot be possible without a forward looking and experimental regulator in the kingdom too.

Throughout these two years, Fintech has garnered interest in the local scene and we began to see more activists within the community.

Today, we like to formally announce that Cambodia Fintech Association (CFA) and Cambodian Association of Fintech and Technology (CAFT) has decided to come together to serve the Fintech community better.

HE Chea Serey said: “Cambodian FinTech scene has many potentials, but needs collective efforts from regulators and industry. I am glad to see the synergy between the two organizations. Together, we can achieve more”.

Mr. Eddie Lee said: “Over the two years, the Fintech companies in Cambodia has stood out both local and internationally. We are also privileged to have brought payments and remittance fintech companies to a global stage at the Singapore Fintech Festival where they strut their innovation to visitors all over the world”.

“Throughout these 2 years, we have also seen passionate individuals who have stepped forward and volunteered and to serve the fintech industry and we believe that the new committee will be able to take this initiative to greater heights”, Jeremiah Lee said.

Under the new formation, the new association will be led by the Chairman, Pen Chanda together with Secretary General, Thomas Pokorny, Treasurer, Remi Pell and executive committee’s members Jeremiah Lee and Bernard Teo.

It will also be joined by Andrew Shin, Eddie Lee and Sim Chankiriroth as advisor to the Association.

Mr. Andrew Shin said: “It is my pleasure and honor to be a part of this historic moment in Cambodia Fintech scene. Thanks to Pen Chanda, Eddie Lee, and all the key stakeholders for your dedication to the successful merger between CFA and CAFT. Without your team work and passion for the future of Fintech in Cambodia, none of this would have been possible. I hope the new merged CAFT will bring creative and disruptive changes to the financial sectors for the benefit of the people in Cambodia”.

We like to take the opportunity to congratulate Mr Pen Chanda and we look forward to the steering committee stewardship towards a flourishing ecosystem.

Mr. Pen Chanda said: “This is a very exciting event for both our associations, for our members and the Fintech Community. We are forging a new combined association, an association that has the most prominent Fintech companies in Cambodia as members being represented by their influential and innovative leaders ready to share their enhanced experience and expertise.

I look forward in leading this association towards the future as we continue on with our advocacy in bringing together the Cambodian Fintech community and serve as its unified voice”.

For more information, please visit, www.cambodiafintech.org

The 22nd ASEAN Banking Conference

The 22nd ASEAN Banking Conference

On 25th November, our Vice President, Mr. Eddie Lee was invited to The 22nd ASEAN Banking Conference.

There, he moderated a panel discussion about “Digitalization/FinTech for one ASEAN market” with Mr. Char Sopheap (Vice Chairman of the ABC Payments Committee), Mr. Raymond Sia (CEO of Canadia Bank), Mr. Igor Zimarev (Head of Marketing, ABA Bank) and Mr. Ros Sokha (Chief Digital Officer of Sathapana Bank). They discussed various topics including Cambodia-Thailand QR Cross Border Initiatives, Canadia Bank’s Digital Transformation, ABA Bank’s Digital Innovations as well as Sathapana Bank’s Digital Transformation.

#22ndASEANBankingConference #FinTech #Digital #DigiralTransformation #ABCpayments #CanadiaBank #ABABank #SathapanaBank

Singapore Fintech Festival 2019

Singapore Fintech Festival 2019

The panel ‘Defining the Future of Digital Currency’ has to be the most spectacular panel discussion during the Singapore FinTech Festival last Tuesday! Where HE Serey Chea (National Bank of Cambodia) shared the same stage as Christian Catalini (Calibra, Facebook), Mu Changchun (The People’s Bank of China) & Umar Farooq (J.P. Morgan).

Digital currency developments have moved beyond tech giants, financial institutions and startups to central banks such as Bakong Project by Cambodia’s national bank and China’s development of its central bank digital currency (CBDC).

We look forward to see how these developments can enhance the financial system with more efficiency and essentially create positive impacts for individuals!

#Digitalcurrency #Blockchain #Cryptocurrency

Singapore Fintech Festival Roadshow in Cambodia

Singapore Fintech Festival Roadshow in Cambodia

It was a wonderful evening at The Place, PPCBank for a Fintech Networking session where industry leaders from Singapore and Cambodia came together to discuss about their setbacks and learnings. Thank you once again for joining us! The event was co-hosted by Singapore FinTech Festival (SFF) and Cambodia Fintech Association.

SFF is an annual week-long celebration of FinTech and the largest event of its kind in the world. SFF 2018 drew close to 45,000 persons from almost 130 countries, from Afghanistan to Zambia. The three-day FinTech conference was graced by international and local dignitaries, including Narendra Modi, Prime Minister of India, Christine Lagarde, Managing Director, International Monetary Fund, Justin Trudeau, Prime Minister of Canada, and Ong Ye Kung, Minister for Education of Singapore and Board Member of MAS. This year, the Singapore Week of Innovation and Technology (SWITCH) will also be held in the same week.

We look forward to hear more from the global leaders at the world’s largest and most impactful FinTech Festival. See you there!

A visit to the Ministry of Economy and Finance (MEF) Cambodia

A visit to the Ministry of Economy and Finance (MEF) Cambodia

Enterprise Singapore, Singapore Fintech Association and Cambodia Fintech Association (CFA) brought along 15 companies to visit the Ministry of Economy and Finance (MEF) Cambodia to understand the Policies related to SMEs Tax Incentive, Macroeconomics and Fiscal policy. We also had the opportunity to meet with the Cambodia Security Exchange, Cambodia Women Entrepreneur Association (CWEA), Cambodia Investment Club (CIC), Youth Entrepreneur Association of Cambodia (YEAC) & Cambodia Chamber of Commerce (CCC).

#SingaporeFintechAssociation #CambodiaFintechAssociation #EntrepriseSingapore #Fintech

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.