This week’s version of Finovate World options fintech information from Cambodia.
Cambodia and the UK accomplice to combat on-line scams
The UK and Cambodia have signed a Memorandum of Understanding (MoU) declaring their intent to work collectively to fight networks of unlawful rip-off facilities. The settlement requires extra information sharing and higher coordination towards prison gangs with a view to deliver scammers to justice. The 2 international locations additionally famous the position of human trafficking in worldwide monetary crime and have pledged to be sure that victims of trafficking are supported as properly.
The issue of rip-off facilities is the main target of the settlement, which marks the primary time the 2 international locations have established a joint working framework for tackling rip-off networks. Rip-off facilities and networks have been efficient in launching and scaling fraud assaults towards 1000’s of victims concurrently. These criminals deploy refined ways to con people into sending them cash, together with romance scams. In some circumstances, the individuals finishing up these scams are themselves victims of human trafficking, compelled to commit fraud below menace of violence. Many of those rip-off facilities and networks are primarily based in Southeast Asia, which has more and more turn out to be a world hub for this sort of illicit exercise.
“Fraudsters don’t respect worldwide borders,” UK Minister for Fraud, Lord Hanson, stated. “Over two-thirds of fraud affecting the UK originates abroad so agreements like this are very important to lowering the menace to the general public right here at residence. I’m happy to have reached this settlement with Cambodia which is able to strengthen our work to dismantle rip-off facilities and cease these criminals cashing in on distress. We are going to pursue fraudsters wherever they function from.”
The UK may even assist bolster the capacities of Cambodian regulation enforcement by way of coaching in cybercrime investigations, digital forensics, and investigative procedures. The UK and Cambodian governments may even collaborate by way of the World Fraud Taskforce, collectively developed by the UK and INTERPOL. This may contain figuring out suspects and offering help to operations to dismantle rip-off facilities, in addition to tracing and disrupting the monetary flows that help them.
UPI acceptance goes dwell in Cambodia
By way of of a partnership between NPCI Worldwide Funds Restricted, the worldwide arm of the Nationwide Funds Company of India, and ACLEDA Financial institution, Unified Funds Interface (UPI) acceptance is now dwell in Cambodia by way of the nation’s personal nationwide QR code, KHQR.
The launch, at the moment in Part 1, will allow Indian customers to scan KHQR at greater than 4.5 million service provider retailers, permitting them to make safe and seamless QR-based funds at vacationer points of interest, shops, eating places, and different companies utilizing their UPI-powered apps. The subsequent section of the partnership will allow Cambodian travellers in India to make use of their Cambodian cost and banking apps at hundreds of thousands of UPI QR-enabled service provider places all through the nation, making a bilateral, interoperable cost hall between the 2 nations.
“ACLEDA Financial institution is proud to launch Part 1 of our cross-border interoperability initiative, enabling Indian travellers to execute safe digital transactions by way of UPI-enabled functions throughout our in depth KHQR service provider community,” ACLEDA Financial institution President and Group Managing Director In Channy stated. “This partnership represents a major achievement in our digital transformation roadmap.”
Formally launched in July 2022 by the Nationwide Financial institution of Cambodia, KHQR made Cambodia one of many first international locations in Southeast Asia to deploy a nationwide standardized QR code cost system. The system is extensively utilized in Cambodia; by the tip of 2024, banks had onboarded roughly 4.5 million service provider accounts that might settle for KHQR funds. KHQR is built-in with Bakong, Cambodia’s nationwide cost system, which was unveiled in October 2020.
“By integrating the cost gateways of Cambodia and India, we’re eradicating transactional friction and overseas alternate volatility for travellers,” In Channy added. “This synergy empowers native retailers by offering direct entry to a high-velocity digital market, optimizing liquidity administration, and enhancing operational throughput by way of safe, real-time settlement protocols. Finally, this collaboration drives monetary inclusion and strengthens the bilateral financial hall by way of sturdy, scalable expertise.”
Named Cambodia’s main financial institution for commerce finance by World Finance 2025, ACLEDA Financial institution is likely one of the nation’s largest banks by property and has a robust standing amongst rural communities and with small companies. ACLEDA Financial institution was based in 1993 as a non-governmental group (NGO) that gives microfinance companies. The establishment grew to become a specialised financial institution in 2000 and a full business financial institution in 2003. As of 2025, ACLEDA Financial institution has property of greater than $10 billion.
ABA Financial institution earns high marks from Forbes
ACLEDA Financial institution isn’t the one monetary establishment in Cambodia making headlines this month. ABA Financial institution, one of many Huge 4 Cambodian banks (together with ACLEDA, Canadia Financial institution, and KB Prasac Financial institution), was named by Forbes because the nation’s primary financial institution in its World’s Prime Performing Banks 2026 rating. The itemizing places the establishment at quantity 31 globally amongst all Decrease Mid-Measurement Banks, and represents a major milestone for ABA Financial institution.
Based in 1996 because the Superior Financial institution of Asia Restricted, offering business banking companies to a small group of company prospects, ABA Financial institution at this time is the most important business financial institution within the nation and is acknowledged as a pacesetter in digital banking. With property of greater than $16 billion and greater than 5 million cell banking prospects, the establishment maintains 106 branches, 45 self-service banking places, and greater than 2,000 self-service banking machines.
“This achievement displays the energy of our enterprise and the consistency of our efficiency, however it additionally represents one thing broader,” ABA Financial institution Chief Government Officer Askhat Azhikhanov stated. “It’s the results of the belief of hundreds of thousands of consumers, the dedication of our individuals, and our continued deal with constructing a robust, resilient, and forward-looking financial institution. We’re proud to see ABA’s efficiency acknowledged on a worldwide stage, and we stay dedicated to elevating the bar even additional.”
Right here is our have a look at fintech innovation world wide.
Asia-Pacific
AIFU, a Chinese language-based, Nasdaq-listed, AI-powered monetary companies platform raised $140 million in a non-public placement.
01F Group, by way of its fintech personal fairness arm 01Fintech, introduced an funding in Indonesian digital monetary platform DANA.
Philippine fintech unicorn Mynt gained approval from the nation’s inventory alternate for a virtually $1.3 billion IPO.
Sub-Saharan Africa
Central and Japanese Europe
Estonia-based pan-European credit score information platform, Mifundo, teamed up with open banking infrastructure supplier Yapily.
Cost app Blackcat and Prague-based non-profit client group Fundurama introduced a brand new partnership.
Estonian fintech CostPocket agreed to be acquired by Swedish fintech Mynt.
Center East and Northern Africa
Egyptian funds infrastructure firm Paymob raised $35 million in a pre-Collection C funding spherical.
Fintech Galaxy introduced that it has turn out to be the primary firm in Jordan to realize multi-bank open banking integration and account aggregation.
The Central Financial institution of Oman (CBO) introduced a brand new nationwide fintech technique.
Central and Southern Asia
Cost expertise firm EBANX introduced its growth into Pakistan.
India’s Pine Labs partnered with Google Cloud to construct agentic AI infrastructure.
The Astana Occasions regarded on the position of modernizing monetary infrastructure in supporting the nation’s rising fintech trade.
Latin America and the Caribbean
Mexico-based monetary companies firm Kapital raised $125 million in mixed fairness and debt.
Brazilian fintech NG.CASH secured $15 million to spice up entry to credit score.
New report from Uruguay-based fintech dLocal emphasised the worth of native cost choices for customers in international locations within the World South.
Photograph by Nara Tsitra
