Wing Bank (Cambodia) Plc , a prominent figure in the digital banking realm, has experienced an extraordinary surge in its digital loan disbu...
Wing Bank (Cambodia) Plc, a prominent figure in the digital banking realm, has experienced an extraordinary surge in its digital loan disbursement, surpassing initial projections and affirming its status as a frontrunner in Cambodia's digital lending sector.
Since its inception in late 2022, Wing Bank's digital loan service has reshaped Cambodia's lending landscape, garnering close to a million loan applications in the previous year alone. The total loan value soared to a remarkable 217 percent above its initial target.
The reverberations of this success reverberates across the nation, offering a much-needed financial lifeline to numerous individuals and addressing their diverse economic needs.
The widespread adoption of Wing Bank's digital loan service plays a pivotal role in bolstering the Cambodian government's endeavors to implement its Financial Technology (fintech) Development Policy spanning from 2023 to 2028.
"The remarkable adoption of Wing Bank's digital loan underscores the unwavering trust our customers have bestowed upon us," remarked Han Peng Kwang, CEO of Wing Bank.
Employing cutting-edge artificial intelligence technology for instantaneous decision-making and loan approval underscores the bank's commitment to delivering tailored digital solutions tailored to the needs of every Cambodian.
Gone are the days of tedious paperwork and cumbersome in-person visits to bank branches. Wing Bank's digital loan service eliminates such hurdles, enabling Cambodians to secure loans in as little as three minutes, anytime and anywhere, through the intuitive Wing Bank App.
With eligibility extending to 1.4 million qualified customers, including users of Wing KHQR, Wing Bank's payroll service, and the popular Wingmall e-commerce platform, accessibility is prioritized, emphasizing the bank's dedication to leveraging digital data for streamlined financial services.
With nearly 120,000 unique customers annually benefiting from multiple digital loan approvals, Wing Bank has played a pivotal role in advancing financial inclusion and shielding Cambodians from predatory lending practices.
"We are thrilled to witness the transformative impact of our digital loans in enhancing the daily lives of every Cambodian by expanding access to credit," emphasized Doeuk Daravuth, Wing Bank's Digital Lending Business Director.
Applying for a digital loan via the Wing Bank App is a seamless endeavor, offering loans of up to $50,000 with competitive interest rates and repayment terms extending up to three years. Increased transactions through the app enhance eligibility for higher loan amounts.
Furthermore, Wing Bank has introduced a referral program enabling participants to provide immediate financial assistance to acquaintances while earning rewards for their invaluable support. For each successful referral resulting in a qualified loan, participants receive a commission of 4,000 riels.
Wing Bank's exceptional achievement in surpassing digital loan targets underscores its dedication to delivering innovative financial solutions fostering empowerment and financial inclusion among Cambodians.
The accolade bestowed upon Wing Bank as the "Best Digital Innovation Organization of the Year" at the Cambodia Digital Awards 2023 further underscores its commitment to propelling digital transformation in the Kingdom.
.j.jpg)
No comments