BCEL, Maruhan connect for ATM pool
BCEL, Maruhan connect for ATM pool
Banque Pour Le Commerce Exterieur Lao Public (BCEL) is continuing its rollout of its ATM pool system by connecting with Maruhan Japan Bank Lao to further benefit customers.
Maruhan recently became the third private bank and seventh bank in Laos to complete integration of its ATM network under the Bconnex project since financial institutions originally signed the Memorandum of Understanding (MoU) on the ATM pool system in 2013.
Acting General Managing Director of BCEL, Mr Phoukhong Chanthachack said the project represented an aspect of solidarity between domestic banks as they came together to modernise their services and prepared for integration with the Asean Economic Community like other commercial banks in region.
With many banks currently operating in Laos the success of the ATM pool system will symbolise the capacity of local banks to be competitive while also benefiting customers by offering more convenience for cardholders through Bconnex.
Mr Phoukhong explained the system integration marked another significant step in BECL’s development this year as it continued to introduce innovative products to customers as part of its long term strategy.
BCEL will continue working on the expansion of the ATM pool system as per the original MoU. Once complete, it will cover more than 90 percent of the domestic ATM system, and accept more banks to participate in the pool system and integrate with other banks’ systems in neighbouring countries with feasibility under discussion.
Managing Director of Maruhan Japan Bank Lao, Mr Keiichi Nakamura noted that customers needed more ways to do business with the bank and Bconnex would make it easier for them to access bank services.
“Only 36 percent of Lao people can access bank services while 66 percent of Lao people are not bringing their money to deposit at banks,” he said referring to a Bank of the Lao PDR survey.
Maruhan is the first Japanese bank in Laos which has serviced Vientiane since 2013.
Mr Nakamura believed connecting the ATM pool system with BECL would lift banks’ standards and encourage them to offer ever better financial services, which was the past experience in Japan. The first ATM pool system there faced several challenges, but these were overcome allowing banks to offer new quality products to expend the industry.
