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ACLEDA bank inks deal with FSS Technologies

ACLEDA bank inks deal with FSS Technologies

Cambodia’s largest commercial bank, ACLEDA Bank, has partnered with FSS Technologies Singapore in a multi-product deal to provide a comprehensive merchant management system.

The deal will consolidate and digitally transform its nation-wide merchant operations, and automate its terminal monitoring, reconciliation and settlement processes.

This deal will allow FSS Solutions will help ACLEDA to bring its merchant operations under one interface, leading to gains in turn-around times and cost rationalisations. FSS’ multi-product solution is comprised of FSS Merchant, FSS ADM (Active Device Monitoring) and FSS Smart Recon. Additionally, the company will provide ACLEDA with real-time insights into their multi-estate POS network.

ACLEDA Bank has a base of over 150,000 merchants and an increasing number of POS terminals. Prior to this agreement, the bank was already handling one of the largest merchant portfolios in the country.

Dr In Channy, president and group managing director of ACLEDA Bank, commented: “It was imperative for us to first streamline and consolidate our merchant management systems before we could focus on the next phase of growth in our business. ACLEDA was looking for a reliable technology provider who could not only provide a comprehensive solution but could also handle the scale and help us optimise our current operations. FSS was quick to understand our core issues and identify business needs.”

Jaishankar A L, CEO of FSS Technologies added: “We have ambitious plans for the ASEAN region and are proud to have ACLEDA Bank as our first client in Cambodia. To have ACLEDA as the latest addition to our customer base is a testament to FSS’ capability to deliver in new and growing markets. We, along with our partner Conscala, are determined to deliver a strong merchant management system that not only transforms bank’s current merchant business operations but also provides a strong base for scalability for its future business growth.”

Conscala is one of the growing technology consulting and services company in Singapore, specialising in banking and payments domain and have a dedicated focus towards the emerging markets of the Asia Pacific. Conscala had an existing partnership with ACLEDA, and further entered a partnership with FSS to provide local account management support and ensure timely completion of milestones while working closely with FSS’ delivery team.

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