CBC Launches First-Ever Financial Mobile App
AKP Phnom Penh, December 01, 2020 --
Credit Bureau Cambodia (CBC) has launched a mobile app that allows users to check their credit score, view credit reports, and receive credit monitoring alerts.
With the “CBC Mobile” app, the CBC is attempting to fill what it perceives to be a service gap in the country’s growing credit and financial sectors, CBC said in a press release issued on Nov. 30.
Cambodia will have an integrated digital platform that promotes financial health checks, credit monitoring, and financial literacy, it added.
After registering with the app, available on both iOS and Android smartphones, anyone with a loan history can check their credit score, view their credit reports, and receive real-time credit monitoring alerts, read the statement.
“Providing Cambodians with accurate and real-time knowledge of their credit information is an important step toward maturing and strengthening the country’s financial sector,” said Mr. Oeur Sothearoath, CEO, Credit Bureau Cambodia.
“Our most recent quarterly report showed that mortgage loans alone jumped from 18 percent since the end of 2019 to US$4.7 billion at the end of September this year. There is a need to make sure that as more Cambodians achieve upward socioeconomic mobility and borrow more money to grow their asset portfolios, they are also given the tools to responsibly manage and pay back their loans. The CBC Mobile app is about cultivating stable and sustainable growth through transparency.”
With the app at their fingertips, CBC hopes that users can maintain better financial health and good credit managing habits; prepare for financial opportunities and credit exposures; heighten their negotiating power, while improving the accuracy of their credit information through online dispute handling services.
The app also provides educational materials and resources on financial literacy and updates from credit markets and emerging trends in the financial sector.
Since 2012, CBC has been the leading provider of financial information, analytical solutions, and credit reporting services to financial institutions and consumers in the Kingdom of Cambodia.
By Chea Vannak