Strategic joint venture with IG Tech Cambodia brings Mbanq’s established digital banking technology and Banking-as-a-Service (BaaS) solutions to SE Asian markets.

PHNOM PENH, Cambodia–(BUSINESS WIRE)–#BankingTechnology–Mbanq, a global leader in Banking-as-a-Service (BaaS) and digital banking innovation has formed a strategic partnership with IG Tech Cambodia, a prominent FinTech and banking technology developer in SE Asia. Together, they have created IG Finlink Cambodia, with Mbanq holding majority ownership.

The strategic partnership marks Mbanq’s expansion into the ASEAN (Association of Southeast Asian Nations) banking technology and BaaS markets. Mbanq will offer its comprehensive Banking-as-a-Service solutions across Southeast Asia, starting in Cambodia and expanding into Singapore, Malaysia, Thailand, Indonesia, and Vietnam. Additionally, Mbanq will provide digital banking technology to Financial Institutions in the region, providing customized and localized digital banking solutions for local, regional, and international banks, as well as embedded finance solutions for brands.

Vlad Lounegov, CEO of Mbanq, says, “Mbanq will introduce its BaaS and the latest banking technology to the burgeoning ASEAN markets, where FinTech and digital transformation are advancing rapidly. Southeast Asia presents vast opportunities for the Financial Service Institution (FSI) sector to benefit from Mbanq’s technology and BaaS solutions, as ASEAN countries are leading the drive to digitization to achieve a comprehensive digital economy. The region’s emerging markets offer untapped potential for Mbanq to penetrate microfinance institutions, specialized banks, and commercial banks.

“Since 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 world’s leading Banking-as-a-Service technology and services to Southeast Asia.”

Puthkiry Kim, Chairman of IG Tech Cambodia and co-founder of IG Finlink Cambodia, says, “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 per cent 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. We are confident in replicating Mbanq’s success in Southeast Asia, where there is a strong demand for innovative digital financial services.”

The new partnership will focus on four new areas:

Banking-as-a-Service and Digital Banking Platform Solutions: Comprehensive BaaS and banking technology solutions via cloud or on-premises on a SaaS basis to the Cambodian and broader ASEAN markets.

Embedded Banking for Brands: To create new revenue streams, increase customer engagement, and improve the overall value proposition for SE Asian brands with embedded finance.

Global FinTech Training Center: Establish IG Finlink as a global FinTech training hub for Mbanq solutions and services worldwide.

Expansion of Technology Development: Enhance Mbanq’s technology development capabilities in SE Asia and globally.

“The ASEAN region, starting with Cambodia, presents significant advantages for digital banking adoption, such as high smartphone penetration, a young and tech-savvy population, and a rapidly growing digital economy. These factors create a conducive environment for the growth of innovative financial services and products, positioning the region as a hotbed for digital banking transformation,” Puthkiry Kim adds.

Mbanq is a globally leading Banking-as-a-Service (BaaS) provider and banking technology innovator that pioneers BaaS by facilitating the creation and operation of traditional banks, neobanks, credit unions and FinTech platforms for clients through its digital banking platform, white-label mobile apps and comprehensive support services. It also extends embedded banking benefits to a diverse clientele, from retail brands to sports teams.

Mbanq stands out for its exceptional regulatory prowess, modern technology, and industry-specific solutions. Founded in 2016 and headquartered in the United States, Mbanq offers extensive support for digital banking that encompasses compliance, lending, back office, and dispute resolutions, on top of a proprietary, cutting-edge technology stack.

Mbanq is one of the fastest-growing FinTechs in the world. With a global presence and a focus on innovation, the company continues to drive the evolution of banking, enabling financial institutions to leap ahead in an increasingly digital world.



Alex Player