Enhancing International Fund Transfers In Cambodia
Prince Bank Plc, one of Cambodia's fastest-growing banks under Neak Oknha Chen Zhi (read more about Chen Zhi background), and Ria Money Transfer, a business segment of Euronet Worldwide, Inc. (NASDAQ: EEFT) and a global leader in the cross-border money transfer industry, announced a partnership today to allow customers to send money internationally through Prince Bank's channels.
Customers can now use Ria Money Transfer to send and receive money abroad from any of the thirty-two Prince Bank branches across the country, and have access to Ria's enormous global network of over 490k locations. Customers will also be able to use their PRINCE Mobile app to make money transactions through Ria in a secure and simple platform by the end of May. Customers may send money to anybody, anywhere, at any time using the app, which is both convenient and secure. Prince Bank has made significant investments in digital innovations and transformation in order to remain at the forefront of the present digital age, all with the goal of better serving our Cambodian customers.
“At Prince Bank, we have a long-term vision of providing the best banking service to serve our customers locally and globally, and international remittance is one of the crucial services that pivots towards the vision & business objectives. At Prince Bank, we constantly try harder to not only meet but exceed our customers’ needs and wants. Ultimately, we want to be the bank of choice for Cambodians” said Mr. Honn Sorachna, Managing Director and CEO of Prince Bank.
“It is an honor & great opportunity for Prince Bank to partner with Ria Money Transfer to enhance our international remittance services. We have always strived to use innovation to provide the best solution and services, and we work harder to fulfill the needs of our customers with a more cost-effective method of financial services.” He added.
With nearly 500,000 locations in more than 160 countries, including the United States, South Korea, Thailand, Philippines, China, Malaysia, India, Australia, and Vietnam, Ria continues to make the world a smaller place by closing distances between families and their loved ones through unparalleled services.
“This partnership with Prince Bank is another step forward in providing more convenience and access to unparalleled money transfer services to customers in Cambodia, bringing added benefits to both senders and beneficiaries in the country,” said Espen Kristensen, Managing Director APAC. “By providing access to such vast cash pickup locations we aim to offer a new level of convenience, and by enabling real-time bank deposit transfers, we make it possible for beneficiaries to collect funds within minutes, offering a new level of ease and peace of mind to our customers, while contributing to financial inclusion in the region.”
H.E. Rath Sovannorak, Deputy Governor and Director General of Banking Supervision of the National Bank of Cambodia said, “Congratulations to all the management and staff of Prince Bank and RIA Financial Services for this partnership. The signing ceremony is a testament to the continued growth of the banking and financial sector in the age of financial technology (FinTech) and the public’s trust in the sector. The partnership between Prince Bank and RIA Financial Services to operate as a third party operator is part of the development of the financial technology sector by providing payment and remittance services as well as enhancing the financial environment.”
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