Acleda Bank, which specializes in small loans to Cambodians, will soon get a new computer system that will allow the institution to expand to a full service bank.
The bank entered a purchase agreement Monday for the software system with the Switzerland-based firm Temenos, a banking computer software developer.
In Channy, the bank’s general manager, and Temenos Vice President Clive Knott singed the contract, which allows the bank to replace the current telemeter system with the new system in its 56 branch offices in 14 provinces.
The bank should soon be able to move beyond small-scale lending to savings, money transfer, foreign exchange and other banking services, In Channy said.
The system will also improve information management, allowing for more timely and accurate reports to the National Bank of Cambodia, he said.
Starting as a national NGO with various international donors, Acleda has given loans averaging less than $280 to 400,000 clients since 1993. It represents a more than 50 percent share of the small-scale credit market.
“Our operations are growing every year,” In Channy said, adding that Acleda currently has 62,000 active clients in the small-scale loan service, lending $16.6 million in total. “We are hoping to have a 100 percent growth this year. That’s why we need this new system.”
Three branches in Phnom Penh, Takeo and Kompong Thom will be equipped with the new system within four months; the other branches will follow. In the future, In Channy said, the bank will launch on-line banking services with this computer software.
© 2001 – 2013, The Cambodia Daily. All rights reserved No part of this article may be reproduced in print, electronically, broadcast, rewritten or redistributed without written permission.