Phnom Penh Commercial Bank(PPCBank), the grandson of JB Financial Group, will build a next-generation core banking system through Cambodia's first development of its own system, providing digital financing services that are most optimized for the local microfinance market.
The system was injected and developed by 110 IT managers of JB Financial Group, Chonbuk Bank and PPCBank for a total of 16 months.
It is Cambodia's first self-developed In-house IT system, and is characterized by its ability to quickly link systems with other financial institutions and global companies.
As "Apsara" employs a proven framework and monitoring system at existing Jeonbuk Bank, Kwangju Bank and Kakao Bank, PPCBank will be able to improve more than 2,000 business processes.
It also implemented a non-disruptive service environment with the highest level of stability and enabled rapid product and service development through modularization.
With the introduction of the core banking system "Apsara," the entire process of loan business, which had been computerized only for implementation in the past, can be computerized from counseling to follow-up management.
In addition, by computerizing foreign currency activities such as trade and finance, which had been managed manually, and providing various customer information, support marketing capabilities have been strengthened.
PPCBank's IT professionals can participate in the system operation directly and respond quickly to new tasks or issues. As development of new products became possible within two weeks by utilizing functions such as modularization and product factory, PPCBank completed development of new products related to small merchant enterprise (SME) within one week after opening the system.
Along with establishing a next-generation core banking system in Cambodia, PPCBank recently signed a main contract to supply "Apsara" to the local microfinance market. This has created a case in which the localized advanced financial system can go beyond the bank's own use and be used for other financial firms in Cambodia.