Cambodian Fintech Well Represented At Inclusive Fintech Forum 2023

A delegation representing Cambodia's fintech sector, led by the National Bank of Cambodia (NBC), has returned from an impactful showing at the Inclusive Fintech Forum held in Kigali, Rwanda from June 20 to 22, 2023. 

 Photo Credit: CAFT The delegation, co-organised by the Cambodian Association of Finance and Technology (CAFT) and the Association of Banks in Cambodia (ABC), showcased Bakong as well as promoted Cambodia's growing fintech ecosystem. CAFT Chairman, Remi Pell, spoke about the future prospects of the Cambodian fintech sector and the rise of mobile wallets and payment providers as well as the growth of e-commerce over recent years. Other sectors being impacted include the insurance and banking sectors in Cambodia. 

Online, CAFT said "We've had the privilege of meeting and connecting with some of the brightest minds in the Fintech industry at the 2023 Inclusive FinTech Forum. From insightful keynote speeches to engaging panel discussions, we were able to learn about the latest trends and innovations in the industry. It was an unforgettable experience leaving us with valuable insights and feeling inspired for the future of fintech. One of the key highlights of Cambodia was Chairman Remi Pell's presentation on Cambodia's fintech landscape. Attendees were able to gain a deeper understanding of the challenges and opportunities facing the industry in Cambodia, and left with motivation and commitment to driving innovation and growth."

 The Inclusive Fintech Forum was organised by Kigali International Financial Centre and Elevandi (a global platform on Financial Inclusion and FinTech for Good) which "focused on fostering implementation strategies for the inclusive and sustainable development of FinTech through deep-dive roundtables and workshops as well as showcase of best-in-class Inclusive FinTech projects." 

• Among the Cambodian representation, Credit Bureau Cambodia advocated for responsible lending practices and enhancing financial transparency, to ensure the integrity of Cambodia's fintech advancements.
• The National Bank of Cambodia (NBC) and the National Bank of Rwanda also discussed ways of establishing Bakong online payment systems in the African country, said an NBC statement.

Bakong has transformed the way Cambodians transact and engage with financial services, promoting financial inclusion and empowerment. Its seamless digital infrastructure and interoperability have set new standards in the region, fostering an environment conducive to innovation and economic growth. Among the Kingdom's fintech and banking representation and trip event sponsors were Ipay88 Cambodia, Pipay PLC, TrueMoney Cambodia, the Association of Banks in Cambodia (ABC), ABA, ACLEDA Bank Plc. Wing Bank, and other leading financial and tech players. 

The Cambodian delegation "showcased a range of innovative fintech solutions tailored to meet the diverse needs of Cambodia's population. From micro-lending platforms to user-friendly mobile banking applications." CAFT Board and Executive leadership said of the event "We take immense pride in the achievements showcased by Cambodia's fintech delegation at the Inclusive Fintech Forum. The success of Bakong and our fintech ecosystem demonstrates our commitment to driving financial inclusion and leveraging digital technology for the betterment of our society. We eagerly anticipate future collaborations and the continued growth of our fintech ecosystem."