Washington D.C., April 27, 2022 – Wing Bank (Cambodia) Plc joins the SME Finance Forum as the newest member of our global membership network. Our members are SME financing experts from 80+ countries who share the common goal of expanding access to finance to small businesses worldwide through knowledge exchange and innovation.
“When we started in 2012, we were in an exploratory phase for the first few years. Since 2016, we’ve been implementing our mission to build a global membership to support better SME financing, and since then, we’ve established a network with over 240 active member institutions, which operate in over 190 countries sharing the common purpose of helping under-served enterprises. We are delighted to welcome Wing Bank to further grow our mission.” said Matthew Gamser, CEO of the SME Finance Forum.
After the official launch of its commercial banking business in April in 2021, Wing Bank has introduced a range of financial products both for individual and corporate customers. These include loans, deposits, micro-savings, credit referral services, money transfers, utility, bills and insurance payments, supply chain payments, payroll services, and even phone top-ups. In addition, Wing offers retail payments via “WingPay”, and has also introduced the “WingMall” e-commerce platform.
“By joining the SME Finance Forum, we hope to benefit from the many networking opportunities and also the ability to learn from the members and finally, the possibility to share our knowledge and experience of operating a commercial banking business in Cambodia that supports the SMEs and the MSMEs in this country,’’ said Han Peng Kwang, CEO of Wing Bank.
In the past year alone, Wing Bank has served more than 13 million users through its financial ecosystem. Over 500 corporate companies are now using Wing Bank’s payroll and disbursement services, speeding up payments and business operations. More than 80,000 merchant partners such as restaurants, retail shops, salons, fashion outlets, and many others are using Wing Bank for its reliable and secure payment solutions.
“At the same time, we are looking forwards to gain more insights and to learn the best practices from other members of the Forum across the world to better promote access to finance for SMEs. I believe this membership will advance Wing Bank’s mission to serve the unbanked and the under-banked customers, especially the SMEs,” added Han.
About SME Finance Forum
The SME Finance Forum was established by the G20 Global Partnership for Financial Inclusion (GPFI) in 2012 as a knowledge center for data, research, and best practice in promoting SME finance. As an implementing partner for the GPFI, the International Finance Corporation (IFC) was tasked with managing the initiative. The Forum operates a global membership network of +240 members that brings together financial institutions, technology companies, and development finance institutions to share knowledge, spur innovation, and promote the growth of SMEs.
To see all SME Finance Forum members, please visit: https://www.smefinanceforum.org/members/member-list
About Wing Bank
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 revolutionized 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 Bank App, 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 individuals, SMEs 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 offers retail payments via “WingPay”, and also has introduced the “WingMall” e-commerce platform.
Both small and large companies alike are now using Wing’s payroll and disbursement services, speeding up payments.
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.
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