Phnom Penh, Cambodia – Canadia Bank, a long-established and full-service commercial bank with over three decades of presence in Cambodia’s financial market, has been twice awarded the “Cambodia Technology Excellence Award in Digital Banking” at the Asian Technology Excellence Awards 2024, presented by The Asian Business Review.
The Asian Business Review is a reputable financial and business magazine in Asia and the Asian Technology Excellence Awards is a renowned awards program that celebrates top technological innovators and solutions that are reshaping industries and driving digital transformation across the region. This award reflects Canadia Bank’s steadfast commitment to its digital transformation strategy, which focuses on integrating cutting-edge technology into its products and services to deliver exceptional security and convenience for its customers.
With its refined core values of Innovation and Customer Focus as guiding principles, Canadia Bank continues to intensify its digital transformation initiatives. The Bank has further enhanced its digital ecosystem by expanding its digital payment services, adding new features to the Canadia Bank App, such as cross-border payment function to Thailand and introducing virtual card. Additionally, it has also revamped its Corporate Internet Banking platform and launched the Merchant App and Merchant Portal for corporate clients and business owners to manage their financial transactions more efficiently. Canadia Bank has also transformed the Smart Bank Center into an Innovation Hub to showcase the new technology, innovative solutions, and provide financial literacy workshops to customers.
In line with its commitment to innovation, Canadia Bank has also pioneered an initiative called the "Centre of Excellence Portal," a mobile portal tailored to assist frontline sales teams in onboarding new customers outside of the branch. This app is equipped with advanced security measures, ensuring that customer data is highly protected while streamlining the accounts’ onboarding process.
This regional award is a testament to Canadia Bank’s dedication in providing seamless and personalized banking experiences that meet the market trends and evolving needs of its customers. The Bank’s journey toward this achievement has been marked by a series of strategic initiatives focused on enhancing service delivery, optimizing product offerings, and investing in cutting-edge technology.
“We are honored to receive this recognition for the second year, which highlights our relentless pursuit of innovation in the digital banking category,” said Mr. Raymond Sia, CEO and Executive Board Director of Canadia Bank. “Our success is the result of a collective effort. It is the fruit of the tireless work of our dedicated team, who have consistently pushed the boundaries of what is possible in digital banking. As we look ahead, we will continue to invest in cutting-edge technology and innovative solutions as well as human resources to ensure that Canadia Bank remains at the forefront of the banking industry in Cambodia.”
Mr. Howard Lau, SEVP and Chief Information Officer of Canadia Bank, has added further, “Our digital transformation is a continuous journey. As we celebrate this milestone, we also look forward to the future with anticipation. We will continue to innovate and to challenge ourselves to constantly evolve our digital services to meet diverse customer needs, with an emphasis on advanced security, utmost convenience, and financial inclusion. Canadia Bank is committed to enhancing accessibility to empower all our customers to achieve their financial goals.”
About Canadia Bank
Canadia Bank is a leading local and full-service commercial bank in Cambodia since 1991 and holds commanding market shares in loans and deposits. In 2024, on top of the recent recognition from The Asian Business Review, Canadia Bank was awarded for the 4th time as “Best Retail Bank” by The Asian Banker and twice recognized as Best Bank for Corporates in Cambodia by Euromoney and “The Best SME Bank” by the Digital Banker. Additionally, the Bank has recently been recognized with double awards by International Finance Awards as “Best Commercial Bank” for the 6th time and “Best Trade Finance Bank” for the first time for 2024.
Currently, Canadia Bank has 68 branches and about 450 self-service digital devices across Cambodia, such as ATMs, Cash Recycling Machines, Virtual Teller Machines, and Smart Card-Issuing Machines.
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