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A Successful Conclusion of CamTech Summit Powered by Prudential Cambodia 2022

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Cambodian Association of Finance and Technology (CAFT), the National Bank of Cambodia (NBC), The Association of Banks in Cambodia (ABC) and Cambodia Microfinance Association (CMA) with Prudential Cambodia as its Title Sponsor successfully concluded the month-long CamTech Summit Powered by Prudential last December 02, 2022 at the Royal Train Station, Phnom Penh Cambodia.

The flagship fintech event in Cambodia started with the Singapore Fintech Festival (SFF) held from November 2 to 4, 2022, followed by the inaugural Cambodia Tech Expo that happened from November 11 to 13.

The main and final event started with the CamTech Summit Powered by Prudential Forum in the morning and ended with the launch and awarding ceremony of the first ever CamTech Awards.

During the forum, CAFT Board Director, Secretary-General Mr. Tomas graced the event with his welcome remarks, alongside Mr. Freddie Wong, Chief Actuary of Prudential Cambodia and Mr. Remi Pell, CAFT Chairman for collaborative remarks and opening remarks respectively. CamTech Summit Powered by Prudential Forum was an event filled with insightful speakers and panelists both local and international as they discuss crucial topics such as SME’s in Asean EconomyLong-term Financing in Cambodia’s Sustainable Development and Securing the Future of SME’s.

Some of the partners were among the speakers for the forum namely; Mr. Dennis Ng, Chief Revenue Officer of Pulse Revenue for Asia and Africa; Mr. Akhshy Thigarajan, Innovation Manager of Prudential Singapore; Mr. Varabot Ho, Consultant, UNESCAP-GGGI; Mr. Mark Hanna, Group CFO of Royal Group; Mr. Chakara Sisowath, Executive Director of Rating Agency of Cambodia; Ms. Jitka Markova, Director of Startup Factory; Mr. Sok Voeun, Chairman of Cambodia Microfinance Association; Ms. Lida Loem, Co-Founder  of SHE Investment; Ms. Sihanithnovy Sun, Board of Director, Cambodia Women Entrepreneurs Association and Ms. Pen Bopha, Chief Executive Officer of Rithipul.

“As a pioneer in digital insurance in Cambodia, Prudential is fully committed to advancing financial inclusion in Cambodia and as a driving mission for the company. We want to do our part and ensure insurance is accessible and affordable for all Cambodians. Technology is making it possible for all health and wealth services to be available to customers at a lower cost.”, said Chee Weng Yib, Chief Distribution Officer, Prudential Cambodia.

“In addition, the company has adopted an omnichannel approach providing customers with multiple options to purchase its insurance products using their preferred channels. Customers can seek advice from one of ACLEDA Bank’s branches across the country, through the insurer’s consultants, or directly through its app/website, or a combination of these channels. Most recently, we launched our Insurance Selling Machine which allows customers who may not have access to phone or internet especially in some areas to purchase insurance policies conveniently.”, he added

To cap off the month-long event CamTech Summit Powered by Prudential held the CamTech Awards in the evening. The 2022 CamTech Awards honored and gave recognition to the most outstanding innovators, fintech leaders and companies in Cambodia.

“Prudential Cambodia’s ongoing investment as the title sponsor of the CamTech Summit Powered by Prudential Cambodia showcases our commitment in helping Cambodia develop its digital capacity, especially in the financial sector. As the largest insurer in Cambodia with over USD 200 Million of assets under management, one of Prudential’s key priorities is to help develop financial markets and to support key infrastructure projects in Cambodia. These priorities fit with our company’s long-term mission of advancing financial inclusion, investing in digital capabilities, and being a responsible corporation.” said Freddie Wong, Chief Actuary, Prudential Cambodia.

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There are three awards categories namely, Start-Up Fintech of the Year Award, Prudential Fintech of the Year Award and Women in Fintech of the Year Award. The nominees were Jalat Logistics, Krama and Pill Tech Pharmacy for the start-up of the year award; Bill24, iCare Benefits Group and WOWNOW for Prudential Fintech of the Year Award while Ms. Frandara Khoun, Chief Strategy Officer of TrueMoney Cambodia; Ms. Molika Meas, Co-Founder and Group CEO of iCare Benefits Group and Ms. Pen Bopha, CEO of Rithipul Co., Ltd were the nominees for the Women in Fintech Award. After the deliberation, an overall winner from each category were the following; Jalat Logistics, for the Start-Up Fintech of the Year Award; iCare Benefits Group, for the Prudential Fintech of the Year Award and Ms. Pen Bopha, CEO of Rithipul Co., for the Women in Fintech Award.

“This is indeed a momentous series of events for us and a huge step for our future. We are looking forward for more collaborations and fostering more relationships both locally and internationally towards the future of digitalization said Remi Pell, Chairman of CAFT.

The success of this year’s CamTech Summit Powered by Prudential would not be possible without the generosity of our Title sponsor Prudential Cambodia, Gold Sponsor Krama, Bronze Sponsors Acleda Bank, AMK Microfinance, Phillip Bank and TrueMoney; Content Sponsor DQD Consulting and Ipay88 and our Media Partners Cambodia Investment Review, Fresh News, Khmer Times, Sabay and PRNewswire.

SOURCE Cambodian Association of Finance and Technology

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Fintech Pulse: Your Daily Industry Brief (Chime, ZBD, MiCA)

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As we close out 2024, the fintech industry continues to deliver headlines that underscore its dynamism and innovation. From IPO aspirations to groundbreaking regulatory milestones, today’s updates highlight the transformative power of fintech partnerships, regulatory evolution, and disruptive technologies. Here’s what you need to know.

Chime’s Quiet Step Toward Public Markets

Chime, the U.S.-based financial technology startup best known for its digital banking services, has taken a significant step by filing confidential paperwork for an initial public offering (IPO). As one of the most valuable private fintechs in the U.S., Chime’s move could potentially signal a renewed appetite for fintech IPOs in a market that has been cautious following fluctuating valuations across the tech sector.

With a valuation that reportedly exceeded $25 billion in its last funding round, Chime’s IPO could set a new benchmark for the industry. Observers note that its strong customer base and revenue growth may make it an appealing choice for investors seeking to capitalize on the digital banking boom. However, the timing and success of the IPO will depend on broader market conditions and the regulatory landscape.

Source: Bloomberg

ZBD’s Pioneering Achievement: EU MiCA License Approval

ZBD, a fintech company specializing in Bitcoin Lightning network solutions, has made history by becoming the first to secure an EU MiCA (Markets in Crypto-Assets Regulation) license. This landmark approval by the Dutch regulator positions ZBD at the forefront of compliant crypto-fintech operations in Europe.

MiCA, which aims to harmonize the regulatory framework for crypto-assets across the EU, has been a focal point for industry players aiming to establish legitimacy and expand their offerings. ZBD’s achievement not only validates its operational rigor but also sets a precedent for other fintech firms navigating the evolving regulatory landscape.

Industry insiders view this as a strategic advantage for ZBD as it broadens its footprint in Europe. By leveraging its regulatory approval, the company can accelerate its product deployment and establish trust with institutional and retail users alike.

Source: Coindesk, PR Newswire

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The Fintech-Credit Union Synergy: A Blueprint for Innovation

The convergence of fintechs and credit unions continues to reshape the financial services ecosystem. Collaborative initiatives, such as the one highlighted in the recent partnership between fintech innovators and credit unions, are proving to be a potent force in delivering tailored financial solutions.

This “dream team” approach allows credit unions to leverage fintech’s technological expertise while maintaining their community-focused ethos. Key areas of collaboration include digital payments, personalized financial management tools, and enhanced loan processing capabilities. These partnerships not only enhance member engagement but also enable credit unions to remain competitive in an increasingly digital-first financial environment.

Industry analysts emphasize that such collaborations underscore a broader trend of traditional financial institutions embracing fintech-driven solutions to bridge service gaps and foster innovation.

Source: PYMNTS

Tackling Student Loan Debt: A Fintech’s Mission

Student loan debt remains a pressing issue for millions of Americans, and a Rochester-based fintech aims to offer relief through its cloud-based platform. This innovative solution is designed to simplify loan management and provide borrowers with actionable insights to reduce their debt burden.

The platform’s features include repayment optimization tools, personalized financial education, and seamless integration with loan servicers. By addressing the complexities of student loan management, this fintech is empowering borrowers to make informed decisions and achieve financial stability.

As the student loan crisis continues to evolve, solutions like this highlight the critical role fintech can play in addressing systemic financial challenges while fostering financial literacy and inclusion.

Source: RBJ

Industry Implications and Takeaways

Today’s updates underscore several key themes shaping the fintech landscape:

  1. Regulatory Milestones: ZBD’s MiCA license approval exemplifies the importance of regulatory compliance in unlocking growth opportunities.
  2. Strategic Partnerships: The collaboration between fintechs and credit unions demonstrates the value of combining technological innovation with traditional financial models to drive customer-centric solutions.
  3. Market Opportunities: Chime’s IPO move reflects a potential revival in fintech public offerings, signaling confidence in the sector’s long-term prospects.
  4. Social Impact: Fintech’s ability to tackle systemic issues, such as student loan debt, showcases its role as a force for positive change.

 

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SPAYZ.io prepares for iFX EXPO Dubai 2025

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Leading global payments platform SPAYZ.io has confirmed it will be attending iFX EXPO Dubai 2025 on 14 to 16 January. Exhibiting at Stand 64 at Trade Centre Dubai, SPAYZ.io’s team of professionals will be on hand providing live demonstrations of its renowned payment services for payment providers. Attendees will also receive exclusive insight into SPAYZ.io’s plans for 2025 alongside early early access to its upcoming plans for the new year.

SPAYZ.io delivers a host of payment solutions that leverage the latest technological innovations and open access to the fastest growing emerging markets across Africa, Europe and Asia. Over the past year, there has been huge demand for its Open Banking and local payment method services, alongside bank transfers, mass payouts, online banking and e-wallets.

Yana Thakurta, Head of Business Development at SPAYZ.io commented: “We look forward to once again participating at iFX Dubai to expand our network of partners and clients. It’s a fantastic way to kick off the year, connecting with thousands of industry leaders from FOREX platforms to trading companies, and everything in between.

“Our key goal for iFX Dubai EXPO 2025 is to expand our portfolio of solutions and geographies. We’re using this as an opportunity to partner with like-minded entities who share our ambition to provide payment solutions that are truly global.”

Come meet SPAYZ.io’s team at the Trade Centre Dubai at Stand 64. You can also book a meeting slot with a member of a team.

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Airtm Enhances Its Board of Directors with Two Strategic Appointments

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Airtm, the most connected digital dollar account in the world, is proud to announce the addition of two distinguished industry leaders to its Board of Directors: Rafael de la Vega, Global SVP of Partnerships at Auctane, and Shivani Siroya, CEO & Founder of Tala. These appointments reflect Airtm’s commitment to innovation and financial inclusion as the company enters its next phase of growth.

“We are thrilled to welcome Rafael and Shivani to Airtm’s Board of Directors,” said Ruben Galindo Steckel, Co-founder and CEO of Airtm. “Their unique perspectives and proven track records will be invaluable as we continue scaling our platform to empower individuals and businesses in emerging markets. Together, we’ll push the boundaries of financial inclusion and innovation to create a more connected and equitable global economy. Rafael and Shivani bring a wealth of experience and strategic insight that will strengthen Airtm’s mission to connect emerging economies with the global market.”

Rafael de la Vega, a seasoned leader in fintech global partnerships and technology innovation, is currently the Global SVP of Partnerships at Auctane. With a proven track record of delivering scalable, impactful solutions at the intersection of fintech, innovation, and commerce, Rafael’s expertise will be pivotal as Airtm continues to grow. “Airtm has built a platform that breaks down barriers and opens up opportunities for people in emerging economies to connect to global markets. I am excited to contribute to its growth and help further its mission of fostering financial inclusion on a global scale,” said Rafael.

Shivani Siroya, CEO and Founder of Tala, is a pioneer in financial technology, renowned for empowering underserved communities through access to credit and essential financial tools. Her leadership in leveraging data-driven innovation aligns seamlessly with Airtm’s vision of creating more equitable financial opportunities. “Empowering underserved communities has always been at the core of my work, and Airtm’s mission resonates deeply with me. I’m thrilled to join the Board and work alongside such a dynamic team to expand access to financial tools that truly make a difference in people’s lives,” said Shivani.

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