The financial landscape in Southeast Asia, especially in Cambodia, is rapid digital transformation. According to recent reports by the National Bank of Cambodia, the total value of transactions conducted through digital payment platforms reached $492 billion in 2023 which is 16 times the total GDP. The payment via Bakong has dramatically increased from its introduction to 27.6 million accounts and around 2.9 million merchants countrywide[1], while the value of gross digital payments according to World Economic Forum, across the six largest ASEAN economies is forecast to $1.2 trillion by 2025[2]. This growth is a sign of a growing demand for faster, more efficient, and transparent cross-border payments.

The digital revolution is passing across Cambodia and the entire ASEAN region. The latest e-Conomy SEA 2023 report says that over 470 million people in ASEAN use the internet, and that number is expected to rise continuously, with mobile data traffic expected to grow 3 times by 2030. According to NBC Annual Report 2023, Digital payment services have made significant contributions to promote financial inclusion, as the number of e-wallet accounts was recorded at 19.7 million, and the value of payment services increased by 18% about USD 75.8 billion, equivalent to 2.4 times the GDP, with a total of over 600 million transactions. So, a flood of data is on the rapid growth, which brings both opportunities and challenges.

As one of the partners in the prestigious "Accelerate Asia 2024 - Cambodia Edition," organized by Fortinet, First Cambodia took this opportunity to showcase our cutting-edge expertise and innovative solutions in “Unified SASE”, demonstrating our commitment to advancing cybersecurity. Mr. Ly Yiheang, our Senior Network and Security Engineer, delivered an insightful presentation on “Protecting the Distributed Edge with ML-powered NGFWs and 5G”, highlighting our forward-thinking approach to harnessing the latest technologies to secure the digital frontier.

"Infrastructure and Application Modernization with HPE and Red Hat" - A landmark event by First Cambodia, @HPE, and @Red Hat at Hyatt Regency Phnom Penh, where industry professionals from Banks, MFIs and MNCs gathered to delve into the transformative world of AI and modern application deployment.