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Platforms Featured Southeast Asia

Cambodia’s ABA Bank reels in Forest Interactive as digital content partner

Phnom Penh, Cambodia – Local-based ABA Bank has announced that it has signed in scalable mobile platform provider Forest Interactive as its digital content partner for the bank’s mobile banking app, ABA Mobile.

Through the partnership, ABA Bank will bring ABA Mobile users options to pay for digital vouchers by popular online entertainment and stores, including premium services like Amazon, Google Play Store, iTunes Store, Netflix, Spotify, Mobile Legends Diamonds, Rules of Survival, Roblox, and many more.

Said partnership, according to Soknang To, country manager at Forest Interactive Cambodia, coincides with the current state of Cambodia in regards to digital content consumption, where the country is growing as an emerging market for the digital content audience with over 21 million mobile connections as of January 2021.

“With these vouchers available on the ABA Mobile app, customers can purchase in-game credits and digital gift cards right from their mobile banking app. We are excited to plug in another connection with ABA Bank to make premium content services easily and securely available for Cambodians, thus boosting the Kingdom’s digital financial inclusion effort,” To stated.

Meanwhile, Zokhir Rasulov, chief digital officer at ABA Bank, commented that the partnership with Forest Interactive brings great value to ABA Mobile users, making payments for a variety of the world’s popular services just a few taps away.

“This is the result of how ABA closely monitors and listens to the needs of its clients. We will continue working hard to bring more useful features and services and make the financial life of Cambodians more convenient,” Rasulov said.

Forest Interactive’s Digital Voucher Platform (DVP) comes to the fore as a comprehensive, one-stop portal for vouchers on digital goods to cater to today’s growing smartphone users that prefer online purchases of goods and services. With DVP, users can enjoy a wide array of premium digital content services through simplified and secured payment processes.

Forest Interactive’s endeavor for content subscription strategies has been evident globally, as they announced its expansion to eight countries last year, namely Myanmar, Switzerland, Austria, Kuwait, and Kenya as well as Thailand, United Arab Emirates, and Malaysia.

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SME Featured Southeast Asia

MSME reach is UnionBank’s ulterior motive for newly-launched banking app

Manila, Philippines – In response to the steady recovery of the Philippine banking industry and to provide better funding opportunities for small businesses, UnionBank has announced the launch of its new UnionBank SME Banking app, aimed at the country’s growing small and medium enterprises (SMEs).

Through the new banking app, UnionBank’s newest innovation aims to continue empowering SMEs to embrace digital transformation and unlock more opportunities for them to pivot, grow, and thrive in the now digital normal. 

Furthermore, It also underscores UnionBank’s primary goal of using its digital expertise to extend more financial services to all Filipinos, including the strategically-vital SMEs who comprise about 99% of the country’s registered businesses. 

“Specific segments of the sector’s market continue to be in increasingly vulnerable positions. Some customers face temporary financial strain. Individual and corporate borrowers may lack sufficient money. Those with special servicing needs, such as the elderly, require customized assistance, especially with the transition to digital banking. SME owners are focusing on keeping their business afloat by seeking efficient and accessible banking solutions,” the bank said in a press statement.

Through the UnionBank SME banking app, any business owner can open their own checking account online with ease and convenience. There is no fuss as the account will be available and ready to use within the same day and there is no need to fill out any forms or visit a branch. The app also helps SMEs manage all their financial operations with just a few clicks. 

“At the end of the day, we’re all in this together and we want to help all Filipinos be financially inclusive. We are a digital partner that Pinoy SMEs can trust and rely on amid any challenge,” said Jaypee Soliman, vice president of the SME Segment at UnionBank.

UnionBank also offers other SME-related services including their online lending marketplace SeekCap that allows easier lending for SMEs, and business digital platform hub UnionBank GlobalLinker which integrates their business inventory, team and knowledge on the local SME scene all in one platform.

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Platforms Featured Southeast Asia

UOB Malaysia launches AI-powered mobile banking app

Kuala Lumpur, Malaysia ー United Overseas Bank (UOB) Malaysia has launched Mighty Insights, a mobile banking app based on artificial intelligence (AI)ーa first in the countryーto create simpler banking transactions for customers of the said bank.

Said app features a dashboard for the customer’s monthly expenses based on their credit card spending, app alerts for third-party subscriptions, merchant payments, or insufficient balance. A Quick Response (QR) code payment function has been also added to the app to ensure safer fund transfers or payments. 

The app also features advanced data analytics, machine learning, and pattern recognition algorithms to help customers provide financial guidance in terms of spending, life age, and lifestyle priority variances. 

Driven with the same analytics as UOB’s AI-driven predictive analytics engine and TMRW, a mobile-only bank designed for ASEAN millennials, Mighty Insights is second in the line which launched AI-driven mobile banking.

Ronnie Lim, managing director and country head of personal financial services for UOB Malaysia, expressed that the recent mobile banking app launch is just one of the bank’s strategies to further harness the technological capabilities for banking and finance for customer-centric experience.

“As technology continues to improve the way we manage our finances, we designed Mighty Insights to anticipate our customers’ banking needs and to offer them the most suitable financial solutions to help them save and spend wisely. Each insight is personalised based on the customer’s spending habits and banking behaviour. Driven by AI and machine learning, Mighty Insights enables customers to track their day-to-day spending conveniently and to view easily the categories they have been spending on the most,” Lim stated.

The app is available for download at the Google Play Store, the Apple App Store, or at Huawei AppGallery.