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Cambodia Post Bank (CPB) is a Phnom-Penh, Cambodia based licensed commercial bank, offering financial solutions to aspiring individuals and enterprises in Cambodia. Established as a strategic partnership between Canadia Investment Holding Plc, Cambodia's Ministry of Post and Telecommunications and Fullerton Financial Holdings Pte. Ltd.
Cambodia Post Bank (CPB) is a Phnom-Penh, Cambodia based licensed commercial bank, offering financial solutions to aspiring individuals and enterprises in Cambodia. Established as a strategic partnership between Canadia Investment Holding Plc, Cambodia's Ministry of Post and Telecommunications and Fullerton Financial Holdings Pte. Ltd.
Core Banking integration. Mobile banking
Regulatory. Launch of new banking services
Banking
Fiorano Platform, Fiorano Adapters
Harnessing technology-driven innovation has become an imperative for banks in the emerging markets. The number of bank depositors in Cambodia alone has burgeoned from a mere 230,000 to almost 2 million, a blistering 5 year compound annual growth (CAGR) of 40%.
Cambodia Post Bank realized the importance of technology to tap the market of a growing millennial generation that relies heavily on mobile transactions. CPB uses CamboPay to provide the mobile banking service through which customers perform banking transactions like balance inquiries, inter and intrabank money transfers, bill payments, credit information lookups and more. These transactions had to be integrated with CPB's Temenos T24 core banking system.
Also there was a National Bank of Cambodia (NBC) mandated requirement for banks to integrate their core-banking systems with FAST (Fast and Secure Transfer), a national interbank payment transfer system that was introduced to provide immediate funds to consumers with liquidity needs.
The IT team at CPB foresaw the effort required for such resource intensive integrations and realized that it had to invest in a quality integration platform to launch new services and comply with the regulatory requirements of the National Bank of Cambodia.
< 5 weeks
Launched new Mobile banking services
Fiorano Platform provided a
highly productive event-driven
platform for CPB
Harnessing technology-driven innovation has become an imperative for banks in the emerging markets. The number of bank depositors in Cambodia alone has burgeoned from a mere 230,000 to almost 2 million, a blistering 5 year compound annual growth (CAGR) of 40%.
Cambodia Post Bank realized the importance of technology to tap the market of a growing millennial generation that relies heavily on mobile transactions. CPB uses CamboPay to provide the mobile banking service through which customers perform banking transactions like balance inquiries, inter and intrabank money transfers, bill payments, credit information lookups and more. These transactions had to be integrated with CPB's Temenos T24 core banking system.
Also there was a National Bank of Cambodia (NBC) mandated requirement for banks to integrate their core-banking systems with FAST (Fast and Secure Transfer), a national interbank payment transfer system that was introduced to provide immediate funds to consumers with liquidity needs.
The IT team at CPB foresaw the effort required for such resource intensive integrations and realized that it had to invest in a quality integration platform to launch new services and comply with the regulatory requirements of the National Bank of Cambodia.
< 5 weeks
Launched new Mobile banking services
Fiorano Platform provided a
highly productive event-driven
platform for CPB
Chanthol Krouch, IT Head, Cambodia Post Bank
Chanthol Krouch, IT Head, Cambodia Post Bank
With Fiorano's efficient mapping tools and Integration Platform infrastructure, the time taken to deliver projects was significantly reduced, resulting in a notable increase in savings and customer satisfaction. Fiorano Platform was deployed to meet 3 major immediate integration needs, viz. Mobile Banking, ATM operations and FAST compliance.
To successfully launch mobile banking services, CPB had to integrate the CamboPay system with its TemenosT24 core banking system to process financial transactions received via mobile phones.
Scaling its ATM Operations was a major priority for the bank not only to meet customer's cash needs but as a revenue generator by rolling out multiple value-added services. ATMs are the second most accessible touch points for customers to reach out to their banks.
With Fiorano's efficient mapping tools and Integration Platform infrastructure, the time taken to deliver projects was significantly reduced, resulting in a notable increase in savings and customer satisfaction. Fiorano Platform was deployed to meet 3 major immediate integration needs, viz. Mobile Banking, ATM operations and FAST compliance.
To successfully launch mobile banking services, CPB had to integrate the CamboPay system with its TemenosT24 core banking system to process financial transactions received via mobile phones.
Scaling its ATM Operations was a major priority for the bank not only to meet customer's cash needs but as a revenue generator by rolling out multiple value-added services. ATMs are the second most accessible touch points for customers to reach out to their banks.
For every transaction processed in the core banking system of the bank and the transactions and acknowledgments from participating banks via FAST, the integration was expected to trigger a process in the FAST payment system to update T24 in real time.
All integrations were developed on Fiorano e-Studio which features a drag and drop interface for building flows. Connectivity to the Temenos T24 platform was provided by Fiorano T24 adapters deployed as Microservices.
Fiorano pre-built adapters and flows helped Cambodia Post Bank to immediately roll out the integration project and comply with the FAST integration with near zero coding and minimal configuration changes.
Fiorano Platform, effortlessly integrates Core Banking applications with multiple systems making Fiorano a fundamental part of the banking architecture. Fiorano's prebuilt Temenos adaptors enabled codeless integration with the T24 Core Banking applications server thus dramatically reducing the implementation time.
Improved productivity with Citizen Integrators: Unlike traditional approaches, Fiorano enables CPB IT staff to perform lightweight, self-service data and application integration, where "Citizen Integrators" can visually assemble instantly running solutions by drawing application and service nodes on a canvas through drag-and-drop of active Fiorano Microservice components.
For every transaction processed in the core banking system of the bank and the transactions and acknowledgments from participating banks via FAST, the integration was expected to trigger a process in the FAST payment system to update T24 in real time.
All integrations were developed on Fiorano e-Studio which features a drag and drop interface for building flows. Connectivity to the Temenos T24 platform was provided by Fiorano T24 adapters deployed as Microservices.
Fiorano pre-built adapters and flows helped Cambodia Post Bank to immediately roll out the integration project and comply with the FAST integration with near zero coding and minimal configuration changes.
Fiorano Platform, effortlessly integrates Core Banking applications with multiple systems making Fiorano a fundamental part of the banking architecture. Fiorano's prebuilt Temenos adaptors enabled codeless integration with the T24 Core Banking applications server thus dramatically reducing the implementation time.
Improved productivity with Citizen Integrators: Unlike traditional approaches, Fiorano enables CPB IT staff to perform lightweight, self-service data and application integration, where "Citizen Integrators" can visually assemble instantly running solutions by drawing application and service nodes on a canvas through drag-and-drop of active Fiorano Microservice components.
Expeditious launch of new service - Delivering mobile banking services to market was an immediate goal. With Fiorano Platform implemented in less than 5 weeks, CPB could launch its new mobile banking services in a hitherto unprecedented time frame
Efficient issue escalation and resolution - In case of a functional breakdown, the Fiorano platform alerts the functional team in real time, avoiding any business disruptions, quickening the process of issue escalation. Document tracking (Message logging) also helps the CPB team analyse any issue to further accelerate the resolution process.
Improved bottom line - CPB saved significantly on development costs as Fiorano Platform is a codeless integration platform. Moreover, it obviated the need to invest in additional software for ATM and mobile service integrations resulting in an estimated 30%-40% reduction in overall costs.
Expeditious launch of new service - Delivering mobile banking services to market was an immediate goal. With Fiorano Platform implemented in less than 5 weeks, CPB could launch its new mobile banking services in a hitherto unprecedented time frame
Efficient issue escalation and resolution - In case of a functional breakdown, the Fiorano platform alerts the functional team in real time, avoiding any business disruptions, quickening the process of issue escalation. Document tracking (Message logging) also helps the CPB team analyse any issue to further accelerate the resolution process.
Improved bottom line - CPB saved significantly on development costs as Fiorano Platform is a codeless integration platform. Moreover, it obviated the need to invest in additional software for ATM and mobile service integrations resulting in an estimated 30%-40% reduction in overall costs.
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