ACLEDA Bank Partners FSS to Streamline Merchant Management Systems

July 6, 2022

By Aduragbemi Omiyale

Cambodia’s largest commercial bank, ACLEDA Bank Plc, has partnered with FSS Technologies Singapore Pte Limited to streamline and consolidate its merchant management systems as it plans to take the business to the next stage.

The leading provider of banking and payment technology solutions will deploy its multi-product solution comprising FSS Merchant, FSS ADM (Active Device Monitoring) and FSS Smart Recon to put all the lender’s merchant-related data across multiple systems under one application.

The fintech firm will also provide real-time insights into the multi-estate POS network of ACLEDA and reduce downtime as it plans to digitally transform its nationwide merchant operations and automate its terminal monitoring, reconciliation and settlement processes.

With a massive base of 150,000+ merchants and an increasing number of POS terminals, ACLEDA was already handling one of the largest merchant portfolios in the country.

However, the bank needed a reconciliation and transaction settlement solution that could match up to its scale and growth, which was why FSS was the next point of call.

“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 optimize our current operations.

“FSS was quick to understand our core issues and identify business needs. FSS’ years of experience providing similar technology solutions, product credentials, demos, and a strong relationship with our regional partner Conscala, gave us the confidence to go ahead and partner with FSS and transform our merchant systems and reconciliation operations,” the President and Group Managing Director of ACLEDA Bank Plc, In Channy, stated.

Conscala is one of the growing technology consulting and services companies in Singapore, specializing in the banking and payments domain and having a dedicated focus on the emerging markets of the Asia Pacific.

It 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.

Commenting on the latest partnership, Jaishankar A L, CEO of FSS said “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 the bank’s current merchant business operations but also provides a strong base for scalability for its future business growth.”

Aduragbemi Omiyale

Aduragbemi Omiyale is a journalist with Business Post Nigeria, who has passion for news writing. In her leisure time, she loves to read.

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