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.
Go deeper with GlobalData
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."
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
