Kanbawza Bank (KBZ Bank)

Kanbawza(KBZ) Bank

KBZ Bank accelerates Myanmar’s digital development, embracing next-generation banking. KBZ Bank has seized the advantages of mobile-first technology in promoting financial inclusion and connecting our customers to the people, opportunities and places that they value most. Through KBZPay, Myanmar’s fastest-growing mobile wallet, the bank has extended banking beyond 500 branches and to even more communities.

KBZ Bank accelerates Myanmar’s digital development, embracing next-generation banking. KBZ Bank has seized the advantages of mobile-first technology in promoting financial inclusion and connecting our customers to the people, opportunities and places that they value most. Through KBZPay, Myanmar’s fastest-growing mobile wallet, the bank has extended banking beyond 500 branches and to even more communities.

Why HUAWEI CLOUD?

With the rapid development of new services, KBZ Bank needs to undergo a transformation to keep up with the fast-growing user market.

Fast and agile capacity expansion capabilities

Huawei Cloud is known for its fast and agile capacity expansion capabilities, providing businesses with flexible and scalable cloud solutions to meet their growing needs.

Agile development platform

Huawei Cloud provides an agile development platform that enables developers to build, deploy, and manage applications quickly and efficiently. The platform offers a range of tools, services, and features that support modern software development practices, making it easier for businesses to adopt agile methodologies.

Abundant Cloud Service Resources

Huawei Cloud offering wide range of abundant cloud resources and services to individuals, businesses, and organizations.
Challenges

According to GlobalData, mobile wallet payments are projected to reach $120 trillion by 2025, growing at a compound annual growth rate of 19.9%. A shift towards digital payments strengthens the need for banks and merchants to constantly innovate their payment infrastructure. This shift creates a demand for contactless payment methods, open banking, digital wallets, and other payment trends among others. 

 

With Digital mobile payments,companies can extend their reach beyond physical boundaries and cater to customers around the world. This global accessibility can open new markets and opportunities for expansion.

 

Hence, KBZ bank decided to cooperate with Huawei Cloud to develop and launch digital mobile payment services in Myanmar.

Solutions


  • Huawei primarily provides back-end technical solutions, which include payment products, customer expansion strategies, and operation enablement. KBZ Bank is responsible for the front-end market, such as local resources, and marketing.


    Within 4 years of deployment, KBZPay has successfully onboarded more than 12 million registered users, and over 290,000 agents and merchants to join the bank’s digital ecosystem.Consequently, the transaction amount has surpassed 20 billion USD, making KBZPay No.1 in the industry by market share.


    Currently, more than 40 cloud services have been utilized on Huawei Cloud enabling customers to deploy KBZPay on Huawei Cloud.

Customer Benefits

Benefits

12 million users were rapidly onboarded within 4 years

More than 290,000 merchants have joined the ecosystem

The accumulated transaction volume exceeds US$20 billion

Ranked No.1 in the industry by Market share