Financial services technology provider Fiserv has announced that its client, ACLEDA Bank PLC, was recently named a Celent Model Bank for 2013. The Cambodian FI was chosen based on a successful initiative that used Fiserv Mobiliti Reach to provide mobile financial services to unbanked consumers.
ACLEDA deployed Mobiliti Reach in October 2012, enabling consumers without a banking relationship to create and fund an ACLEDA mobile-only account. Customers can use this carrier-independent account for transactions such as person-to-person payments, bill payments, mobile phone top-ups, and cash deposits and withdrawals through ACLEDA branches, ATMs and offline offices.
"ACLEDA has accomplished significant milestones this past year with its mobile banking initiative," said Serge van Dam, vice president of mobile solutions at Fiserv. "The bank was able to grow at a rapid rate by taking advantage of the unique attributes of the mobile channel to provide financial services to previously underserved customer segments."
Celent Model Banks are selected based on three criteria: quantitative success (which is weighted most heavily); degree of innovation; and technology or integration excellence.
"[W]e focus on submissions that clearly demonstrate that the initiative had a clear and sustainable impact on the bank and its customers," said Bob Meara, senior analyst with Celent Banking Group. "ACLEDA's mobile banking initiative was found to be compelling and innovative, having clearly advanced the bank's objective of making financial services universally available to the people of Cambodia."
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