In a landmark move, Dr. Soeung Morarith, the CEO of Chief (Cambodia) Commercial Bank Plc (Chief Bank), and H.E. Dr. Seth Khan, Rector of National University of Cheasim Kamchaymear (NUCK), announced a strategic partnership through a Memorandum of Understanding (MoU) signed on July 25, 2023.
The focal point of this partnership is “Chief Easy”, the innovative digital micro-lending platform owned and operated by Chief Bank. The app rides the wave of rapid digital adoption within the Cambodian banking industry, allowing customers to apply for loans at their convenience. A unique feature of the platform is its promise of quick responses, with feedback provided within 24 hours on working days.
Assist with school fee payments and common financial challenges
As part of this newly forged alliance, NUCK students and their parents or guardians stand to benefit greatly from special offers when applying for micro-loans through Chief Easy. The lending limit for this group has been raised to $5,000, a feature specifically designed to assist with school fee payments and common financial challenges experienced by students. This initiative indicates a collective goal by Chief Bank and NUCK to support students in their academic journey.
According to the MoU, this collaboration is just the beginning of an ongoing strategic alliance that aims to broaden access to financial services. In his statement, Dr. Morarith elaborated on the convenience of Chief Easy’s micro-lending app, emphasizing that it enables customers to evaluate their microloan eligibility through the digital banking system. Applications for microloans can be submitted digitally, further simplifying the process.
Chief Bank: Further refining existing products and services
Speaking about the launch, Dr. Morarith stated, “At Chief Bank, we have been actively working to further refine our existing products and services and rolling out new products and services to satisfy our clients’ growing needs.” This comment underscores Chief Bank’s commitment to constant improvement and customer satisfaction.
This partnership is an innovative fusion of education and finance, designed to enhance the digital banking experience and ease the financial burden of education. To access these services, customers can download the Chief Easy app on the App Store (https://apple.co/3A1kXzD) or Google Play (https://bit.ly/2WrWBkK).
This collaboration between Chief Bank and NUCK could mark a paradigm shift in how educational institutions and financial organizations work together to drive financial inclusion and digital banking adoption.
