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KB Financial Group Unveils Global Digital Banking Service in Cambodia
Fintech Roadshow
KB Financial Group Unveils Global Digital Banking Service in Cambodia
  • By Jung Suk-yee
  • June 14, 2016, 01:00
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Canadia Bank CEO (fourth from left) and KB Financial Group Managing Director Kang Dae-myung (fifth from left) pose at the Fintech-based digital banking MOU signing ceremony in Cambodia.
Canadia Bank CEO (fourth from left) and KB Financial Group Managing Director Kang Dae-myung (fifth from left) pose at the Fintech-based digital banking MOU signing ceremony in Cambodia.

 

KB Financial Group unveiled “KB Global Digital Bank” service at Southeast Asia Fintech Roadshow 2016 which is sponsored by Financial Services Commission and held at Cambodia for two days from June 13 to 14. 

The KB Global Digital Bank is a rechargeable wallet-based mobile banking service which combines both financial services, such as account, wire transfer, overseas remittance and P2P payment, and non-financial services like messaging. 

In order to overcome the limitations of financial and communication environments in Cambodia, KB Financial has formed a consortium with its subsidiaries, four domestic startups and local ICT companies to meet Cambodian government officials and companies, securing a stepping stone for domestic fintech startups to expand their business to the local market. 

Moreover, the group signed a memorandum of understanding (MOU) with Cambodia’s Canadia Bank and AMK on the same day. KB Financial expects that it will localize its new global digital banking service, expand global services in Cambodia and increase domestic digital technology support and cooperation.