Cambodia’s Hattha Bank picks Temenos to drive SME lending
Cambodia’s Hattha Bank has selected Temenos and its Infinity digital banking platform as it looks to streamline lending to small and medium-sized enterprises (SMEs) in the Southeast Asian nation.
Temenos says the platform will “support the bank’s vision to quickly scale and reach 100,000 SMEs with vital funding and business banking services within five years”.
Infinity will connect to Hattha Bank’s core system and provide access to SME banking features, including onboarding, user management and entitlements, bulk payments and approvals, and account and cash management.
Hattha Bank is a subsidiary of Bank of Ayudhya, the fifth-largest commercial bank in Thailand.
It was originally established as a microfinance deposit-taking institution but has expanded to offer commercial and retail banking services.
The bank says adopting Infinity will mean it can “fulfil its socio-economic duty” to provide Cambodian SMEs — which make up 99.8% of all businesses in the country — with funding, business loans, and access to digital banking experiences.
Hattha Bank president and CEO Oknha Ieng Tong says the partnership with Temenos will give the bank the ability to “quickly respond to the needs of SMEs seeking critical funding during the pandemic”.