Vattanac Bank and KESS Innovation Forges Strategic Partnership on Digital Payment Solutions

Phnom Penh, 18 April 2024 - Vattanac Bank, a leading Cambodian-owned bank and an integral part of Vattanac Group, announces the signing of a Memorandum of Understanding (MoU) to forge a strategic partnership with KESS Innovation, a pioneering homegrown fintech company. This alliance marks the first step towards enhancing payment networks for Vattanac Bank’s customers, expanding from payments at 'One-Window Service Office' (OWSO) kiosks located at selected government agencies and provincial offices to encompassing diverse ecommerce platforms, ticketing and eVisa payments.

Vattanac Bank’s customers can now make payment conveniently for their administrative invoices at OWSO kiosk using the Vattanac Bank App (VB App). At the OWSO kiosk, customers just need to scan the QR code on their invoices using the machine’s integrated scanner, select Vattanac Bank as the preferred payment method on the screen, and finalize the transaction via the VB App's universal scan feature upon receiving the generated QR code for payment.

The MoU was formalized during a signing ceremony attended by Dr. Anthony Chin, Chief Executive Officer of Vattanac Bank, and Mr. Pes Kimsrean, Chief Executive Officer of KESS Innovation, with the presence of both organizations’ senior management teams at Vattanac Bank's office in Phnom Penh.

Dr. Anthony Chin highlighted, "Through our strategic partnership with KESS Innovation, Vattanac Bank is revolutionizing the banking landscape by seamlessly integrating fintech innovation to provide our customers with convenient and secure digital payment solutions. This collaboration underscores our ‘Phygital’ journey; and commitment to driving financial inclusion and empowering our customers through cutting-edge technology."

The alliance between Vattanac Bank and KESS Innovation represents a significant step towards advancing Cambodia's digital economy and enhancing financial inclusivity. By leveraging fintech solutions, both organizations are paving the way for a future where accessible and empowering financial services are at the forefront of innovation and progress.