Press Release

CB Bank and Telenor won prestigious Bankers’ Choice Award

30 May, 2018 - Yangon

  • Won for the Best Cash Management Project in Myanmar for the year of 2018
  • The award is the acknowledgement of the Asian Banker on the ability and best practices in the use of the financial supply chain to add value to their businesses

CB Bank and Telenor Myanmar jointly won The Asian Banker: The Bankers’ Choice Awards for the Best Cash Management Project in Myanmar for the year of 2018. The award was officially conveyed at the award ceremony in Beijing last week.

“This prestigious award demonstrates that we are on the right track of bringing digitalization into the lives of Myanmar people. As the fastest growing telecom network in Myanmar, Telenor provides telecommunication services in all states and regions of the country.  This means the amount of cash collection and the number of transactions are relatively massive. With less dependence on capability of human resources and being able to automate the majority of the transactions, the cash management solution established together with CB Bank is critical to keep our operation sustainable and help ensure business growth for Telenor. I am looking forward to embracing more improvements in our future way of work by using digital technologies effectively,” said Lars Erik Tellmann, Chief Executive Officer of Telenor Myanmar.

 

“Going digital is very strategic for CB Bank in bringing millions of unbanked people into the formal banking channels. Having partners like Telenor in Myanmar helps CB Bank achieve the goals of financial inclusion and shared prosperity for our country. In this regard, we are happy to have strengthened Telenor’s Cash Management operations through digitalization. We are also delighted that our collaboration with Telenor Myanmar is recognized by The Asian Banker. We will continue to improve our capabilities in Cash Management solutions to enable our corporate clients to digitize their operations for greater efficiency of their businesses,” said U Kyaw Lynn, Chief Executive Officer of CB Bank.

 

The two organizations are in partnership for more than 4 years already for handling the majority of Telenor’s cash collection throughout the country. Telenor selected CB Bank based on its focus on digitalization and its investment in technology.

 

The Electronic Cash Management Solution Project provides an overhaul of existing cash-based payment structure, consolidating the payment system into a digital based platform solution, which greatly enhances efficiency and management of businesses. CB Bank integrates services for Telenor into its platform and thereby simplifying processes for Telenor, its vendors, distributors and customers.

 

The Bankers’ Choice Awards program, instituted in 2012, monitors and evaluates the relationship between banks and their corporate clients and how the banking industry is adding value to the changing needs of corporates. This Best Cash Management Project award is the recognition of the efficiency of the partnership between Telenor Myanmar and the CB Bank that demonstrated the ability and best practices in the use of the financial supply chain to add value to the upstream and downstream activities of the businesses. The success of the project can be attributed to Telenor for bringing international best practices to Myanmar, and CB Bank for creating digital solutions as its core strength and for striving to meet the requirements of Telenor.

TELENOR MYANMAR MEDIA CONTACTS

Shwe Yinn Mar Oo(Ms.)
Corporate Communications, Telenor Myanmar Ltd
E-mail: shweyinn.maroo@telenor.com.mm

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