Malaysian financial services provider CIMB Group has joined forces with PHILIPPINE Long Distance Telephone (PLDT) to provide digital financial services and solutions across the Philippines and Southeast Asia.
CIMB Group has inked a strategic collaboration deal with PLDT’s wireless services unit Smart Communications and its wholly owned digital arm, Voyager Innovations, the Malaysian lender said in a statement.
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PLDT is the market leader in the country’s telecommunications sector in terms of customer base.
Commenting on the alliance, CIMB Group group chief executive Tengku Dato’ Sri Zafrul Aziz said: "This partnership comes at an opportune time when the roles of telecommunications providers and banks are increasingly converging. It is especially exciting that the partnership may, among others, be able to leverage on PLDT’s experience and insights in serving its sizeable customer base.
"Further, through this partnership, we are then able to offer innovative and differentiated digital banking and financial technology solutions in the Philippines and across ASEAN."
PLDT, Smart and Voyager chairman Manuel Pangilinan added: "CIMB is among the largest and most diversified ASEAN banks and its regional banking knowledge and presence across ASEAN will provide depth to this digital partnership."
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