Mbanq, a leading provider of Banking-as-a-Service (BaaS) and digital banking solutions globally, has teamed up with IG Tech Cambodia, a prominent FinTech and banking technology developer in Southeast Asia. This collaboration has led to the establishment of IG Finlink Cambodia, with Mbanq having a controlling stake in the venture.
This partnership signifies Mbanq’s entry into the banking technology and BaaS markets within the ASEAN (Association of Southeast Asian Nations) region. Mbanq plans to introduce its extensive BaaS solutions throughout Southeast Asia, beginning in Cambodia and extending into Singapore, Malaysia, Thailand, Indonesia, and Vietnam. Furthermore, Mbanq will deliver digital banking technology to financial institutions across the region, offering tailored digital banking solutions for local, regional, and international banks, as well as embedded finance solutions for brands.
Vlad Lounegov, CEO of Mbanq, said, “Mbanq will introduce its BaaS and the latest banking technology to the burgeoning ASEAN markets, where FinTech and digital transformation are advancing rapidly. Since its inception, Mbanq has collaborated closely with IG Tech Cambodia, which has been a reliable and valued technology development partner. We are excited to deepen this partnership to bring the Banking-as-a-Service technology and services to Southeast Asia”.
Puthkiry Kim, Chairman of IG Tech Cambodia and co-founder of IG Finlink Cambodia, shared, “We are thrilled to formalize a new partnership with Mbanq and embark on the Banking-as-a-Service journey in Southeast Asia. With over 80% smartphone adoption in Cambodia, the country and the wider region present immense potential for technologically driven disruption with new digital banking platforms catering to niche markets. Having already partnered with Mbanq for eight years, we are impressed by its global growth and success”.
The new partnership will focus on four key areas: delivering comprehensive BaaS and Digital Banking Platform Solutions tailored for the Cambodian and ASEAN markets; creating Embedded Banking solutions to enhance revenue streams and customer engagement for Southeast Asian brands; establishing IG Finlink as a global FinTech training hub for Mbanq solutions; and expanding Mbanq’s technology development capabilities across Southeast Asia and globally.