Bank of China Hong Kong and International Air Transport Association Cambodia win Best Shared Service Centre Award for regional enhanced banking support and project management expertise 2020

• Account management, multi-channel collection and payment, reporting and billing needs were met
• BOCHK’s project management expertise demonstrated in a developing market like Cambodia
• Significant improvement was observed in IATA’s transaction throughput as well as its relationships with agents

Account management, multi-channel collection and payment, reporting and billing needs were met

The mandate, a previous captive of a large Australian international bank with local presence in Cambodia was secured through a request for proposal by BOCHK. The bank not only enhanced the regional support through meeting account management, multi-channel collection and payment, reporting, billing, and local and global operational needs. It also serves as IATA’s long-term committed and reliable day-to-day banking support in Cambodia.

BOCHK’s project management expertise demonstrated in a developing market like Cambodia

The bank’s SWIFT connectivity established specifically for IATA Cambodia powers payment initiation as its primary channel with email and bank’s online banking as alternate payment channels. Application of SWIFT gpi further helps track cross-border payments. In terms of collection services, same day processing for even non-BOC cheques is available across all its branches in Cambodia, and electronic fund transfers from all banks into the virtual account are set up for identification of agents’ deposits for effective account management. With a view to support local operations with its global expertise, dedicated service managers from Cambodia branch are assigned for daily contact, while the Hong Kong regional office is available through escalation for high priority matters.

Significant improvement was observed in IATA’s transaction throughput as well as its relationships with agents

The demonstrated mandate for IATA Cambodia has showcased the bank’s outstanding ability in running regional management and creates an example of how BOCHK reacts promptly in meeting client requirements in a developing country like Cambodia. From a transaction perspective, IATA reported a significant increase in EasyPay adoption. BOC Cambodia has also successfully opened accounts for 12 agents since service cutover.