Advanced Digital Innovation Changing the Face of Banking in Cambodia


Ravy Long


6 minutes read

“Technology has transformed the banking sector in Cambodia, leading to economic growth and the emergence of Wing Bank and its financial revolution through Bionic Innovations and Digital Loan.”

In recent years, Cambodia has experienced a remarkable transformation in its banking sector, propelled by the integration of bionic innovations.

The fusion of cutting-edge technology with financial services has not only revolutionised the way people conduct banking, but also paved the way for financial inclusion and economic growth.

This article explores the transformative impact of bionic innovations on the banking landscape in Cambodia.

Utilising Advanced Innovation Technology

Wing Bank’s innovation technology has revolutionised customer service in the banking industry. Artificial Intelligence (AI) and Machine Learning (ML) based credit decisions have enabled Wing to make eligible one million customers by studying the data points from multiple business domains such as Banking and Telecom, among others.

Wing Bank has developed a real-time decision engine that incorporates multiple underwriting scorecards that have been statistically developed and monitored over time.

This real-time engine helps to approve a loan within seconds of the application and makes it hassle-free for customers.

The real-time decision engine simultaneously talks to, among others, the Credit Bureau of Cambodia (CBC) and multiple in-house databases before making a credit decision.

The bank has also developed an ancillary score based on inputs from CBC, which is called the internal Wing’s Score.

The internal Wing’s Score has been developed on the logistic regression model and also implements a real-time decision engine.

Bunthe Hor, the Deputy CEO of Wing Bank, said, “We aim to expand loan services to all Cambodian customers, including those in remote regions, utilising AI technology. This speeds up loan approval and supports community growth.”

Empowering Financial Inclusion

Recognising the challenges faced by underserved populations, especially those in rural areas, Wing Bank’s digital banking platform has expanded access to formal financial services.

By offering services such as account opening, fund transfers, bill payments, and microloans through its mobile app, Wing Bank has enabled individuals previously excluded from traditional banking systems to participate actively in the economy.

This has paved the way for increased savings and entrepreneurship and facilitated economic growth in previously marginalised communities.

Bunthe Hor said, “We have been able to whitelist customers to have a chance to avail of digital loans. We plan on creating mass awareness campaigns to promote this as we strive to build our digital capabilities by expanding our message and growing our user base.”

Enhancing Accessibility and Convenience

Wing Bank’s mobile banking app offers easy and convenient access to financial services. Via a simple and user-friendly mobile application, customers can perform a wide range of financial transactions, including money transfers, bill payments, and mobile top-ups.

This convenience has revolutionised the way Cambodians manage their money, especially in rural areas where access to physical bank branches is limited.

Furthermore, Wing Bank’s platform goes beyond basic banking services, it has integrated additional features such as micro-loans, insurance, and savings accounts, empowering individuals to build financial stability and plan for the future.

This comprehensive suite of services has not only improved the lives of individuals, but has also boosted economic growth and development across Cambodia.

Bunthe Hor, expressed his excitement at being part of bringing about greater financial inclusion for Cambodians, “The integration of cutting-edge technologies, such as mobile banking apps, biometric authentication, and digital payment solutions, has transformed the way people manage their finances.”

Enhancing Identity Solutions and Verification of Customer Documents

As a member of CamDX, Wing Bank is bolstering its electronic Know Your Customer (e-KYC) capabilities. This is achieved by enabling instant verification of customer KYC documents against the Ministry of Interior database in the Kingdom of Cambodia. The integration of this system provides advanced security measures and aids in preventing fraudulent activities.

The e-KYC technology from CamDX allows organisations to digitally verify customer documents by cross-referencing them with validated databases. Implementing robust and secure e-KYC capabilities aligns with the Cambodian Government’s Digital Economy and Society Policy Framework 2021–2035. This alignment represents a key objective for the banking sector.

Additionally, Wing Bank is utilising liveliness and facial detection technology. This technology is widely used and is integrated into one of the government-sponsored funds under the programme “Inflation and Flooding” program. The program is designed to enable individuals with limited financial knowledge to safely access financial services through Wing agents. The system ensures secure transactions by detecting the individual’s face and comparing it with the ID photo.

Revolutionising Payments

The Bakong platform, a backbone payment system that facilitates interoperability among different banks and financial institutions, has helped increase the efficiency of the payment system and promote cashless payments.

The QR code payment is safe, efficient, affordable, and inclusive, and to promote it, the KHQR Code Standard has been launched and on-site/off-site supervision is conducted.

Strengthening payment service institutions and electronic payments are important goals for stability and public trust in the payment system. 

In 2022, the Bakong backbone payment system had 69 members, of which 46 were in the production phase. A total of 0.52 million customers registered through the Bakong generic application, while compared to 2021, there were 26.1 million transactions, an increase of 2.2 times.

And Wing Bank has helped transform the payments industry in Cambodia. Customers can now conveniently pay through QR codes and mobile wallets, eliminating the need for physical cash. This move towards a cashless economy has made payments not only more convenient, but also safer.  This has led to increased security in financial transactions, reducing the risks associated with carrying cash.

The Way Forward

Cambodia aims to become a high-income country by 2050 through digital technology. The “Cambodia Digital Economy and Society Policy Framework 2021-2035” has three main pillars: digital citizens, digital government, and digital business, with building a digital government the first priority to enable digital transformation in response to the Fourth Industrial Revolution and Covid-19.

“As Cambodia continues to embrace and adapt to these bionic innovations, Wing Bank is poised to become a leading player in the region’s digital banking revolution, setting a strong example,” Bunthe said.

While data privacy and security remain a priority while promoting financial literacy and access to banking services in remote areas, the banking sector has already benefited massively from digital technology, with Wing Bank and innovations leading the way.


About Wing Bank (Cambodia) Plc

Wing Bank (Cambodia) Plc – the bank for every Cambodian – is driven by the vision to provide every Cambodian with convenient access to financial services relevant to, and for the improvement of, their daily lives.

Wing Bank has revolutionised the way Cambodians access financial services by introducing instant, secure, and convenient Mobile Financial Services since 18 August 2008.

Today, Wing Bank serves the entire Cambodian population with 100% coverage of the districts in Cambodia thanks to the innovative Wing Money App, more than 11,000 Wing Cash Xpress agents, over 150,000 merchants, and partnerships with industry giants such as Mastercard, MoneyGram, AliPay, WeChat Pay, Western Union, Visa, and Ria.

Wing Bank provides an array of advanced financial products both for individual and corporate customers. These include loans, deposits, micro savings, credit referral services, money transfers, utility and insurance payments, supply chain payments, payroll services and even phone top-ups. In addition, Wing Bank offers retail payments via “WingPay”, and also has introduce the “WingMall” e-commerce platform.

Both small and large companies alike are now using Wing’s payroll and disbursement services, speeding up payments. Over 80% of Wing’s agents and 50% of customers are women, making Wing a shining example of gender inclusion in the region.

Wing Bank is committed to providing financial, gender and digital inclusion to the unbanked and the under-banked, allowing every Cambodian to enjoy convenience and security when it comes to financial services.


A. Environmental Stewardship
To protect the environment, we organize programmes like mangrove nursery and Reforestation, Coastal and River Clean-Up, Community Based Environmental Solid Waste Management, Environmental IEC Campaign and Eco-Academy

B. Food Security and Sustainable Livelihood
To ensure a sustainable livelihood for the community, eco-tourism include Buhatan River Cruise Visitor Center Buhatan River Mangrove Boardwalk are run by the community. Others include Organic Vegetable and Root crops Farming, Vegetable and Root crops Chips and by-products Processing and establishing a Zero waste store.

C. Empowered Communities
To empower the community, we provide product and Agri-Enterprise Development Training, Immersion and Learnings Exchange Program, Earth Warrior Training and Community Based Social Entrepreneurship Training


Ravy Long

Internal Communication and Media Manager

Ravy is an accomplished Internal Communication and Media Manager at Wing Bank (Cambodia) Plc, one of the fast-growing digital banks in Cambodia. With nine years in banking and four years in journalism, Ravy has thrived in diverse roles including social news reporter, content writer, content editor, media coordinator, and event and CSR Manager. His experience, versatility, and comprehensive knowledge empower him to spearhead impactful internal communication and media strategies in the kingdom.

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