Yoma Bank supports Digital Revolution in Embracing Cashless Societies across APAC

As one of Myanmar’s largest commercial banks and fifth largest lender, Yoma Bank strives to continuously be the fastest developing private bank, with a recent venture to providing banking services for Telecom International Myanmar Company Limited, a mobile network operator. Recent affairs caused Myanmar’s banking system to almost collapse completely. To aid Myanmar consumers in this fragile economy (mostly who are underbanked but stands at 80% for mobile penetration), with a collaboration with Wave Money (Myanmar’s largest mobile financial services provider), they’re looking to enable Yoma Bank’s customers instantly activate online fund transfers and bringing instant access to all features of the WavePay app.

William also shares:

• Finding the right partner – Creating an ecosystem between retail and business payments for the convenience of their customers.
• Closing the banking gap with mobile penetration – emerging markets with heavy phone users can still enjoy payment services safely and securely with the adoption of mobile payments.
• Movements to increase financial literacy – promoting community banking where financial education can be provided to safeguard the interests of the people.
• Last-mile delivery – More convenient banking services is needed to reduce the heavy reliance on the agent network for customers living in rural regions.

The potential of emerging markets is now at an all-time high, so is it time to better understand their needs?

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