Cambodian MFI Hattha Kaksekar implements BPC SmartVista

Source: BPC Banking Technologies

BPC Banking Technologies, the leading provider of Open System e-payment solutions for the global financial industry, announces that Hattha Kaksekar Limited has gone live in production with the implementation of SmartVista - BPC's end to end e-payments solution.

With more than 1,360 staff and 125 offices Hattha Kaksekar Limited is the fourth largest microfinance institution (MFI) in Cambodia, and delivers a full range of financial services, including loans, deposits and local money transfers.

Hattha Kaksekar implemented SmartVista to support the company's business goals - delivering a wide range of products and services to customers across Cambodia, using a number of channels - including ATMs, POS devices and mobile phones. In addition to financial transaction switching for ATM, POS and mobile payments, SmartVista is being used as a fully-fledged card management solution supporting debit and local credit cards, prepaid and virtual cards. Hattha's customers are now able to perform balance and mini statement inquiries, funds transfer, as well as remittance transactions on ATMs and POS devices. Mobile payment services are now available nationwide.

BPC Banking Technologies implemented a number of sophisticated features to help Hattha deliver advanced services, including card-less foreign currency exchanges on ATMs, and biometric authentication on ATMs and POS devices. The biometric identification solution, provided completely by BPC, improves the customer's experience and significantly reduces the risk of fraud.

Hattha's card business is well positioned with SmartVista's built-in support for EMV, and is able to issue local chip cards on EMV standards.

"With BPC's SmartVista as our core payments processing system we are confident that we can provide our valued customers flexible access to a wide range of innovative products and services, and an enhanced financial services experience. Today, with SmartVista in live operation, Hattha can run its business more efficiently and with lower costs. We are the only microfinance company to have a solution with such advanced capabilities, and we believe that it gives us a competitive advantage that puts us 5 years ahead of the other players inn the markett. As the country is now part of the worldwide shift to more secure payments (as a result of EMV), we plan to be the first microfinance company to launch chip cards in the country," says Mr. Hout Ieng Tong, President CEO, Hattha Kaksekar Limited.

"BPC and Hattha project teams have cooperated very well together, delivering the project on time, and within budget, while also bringing awesome products and services to customers in the Cambodian market as Hattha readies itself to be competitive in the financial services vertical. Powered by SmartVista, not only is Hattha ahead of other local players in offering innovative products, but it is able to bring new products to market much more quickly, while significantly reducing costs. Throughout the project we leveraged our worldwide experience to deliver on our promises of high quality, accessible expertise and on time project delivery. Hattha is well positioned for further payment business innovation. We are delighted to be part of the payment transformation in Cambodia combining biometric authentication with microfinance products to enhance the everyday payment experience of Cambodians, and to partner with Hattha to achieve its ambitious business strategies," adds Rajan S Narayan, Managing Director, BPC Asia Pacific. 

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