FSS Technologies Singapore Pte Ltd., a leading provider of banking and
payment technology solutions, announced a partnership with ACLEDA Bank, Cambodia’s largest
commercial bank, in a multi-product deal to consolidate and digitally transform its nation-wide
merchant operations and automate its terminal monitoring, reconciliation and settlement processes.
With a massive base of 150,000+ merchants, and for an increasing number of POS terminals, ACLEDA
was already handling one of the largest merchant portfolios in the country. The bank needed a
reconciliation and transaction settlement solution that could match up to the scale and growth of
the bank. FSS’ multi-product solution comprising of FSS Merchant, FSS ADM (Active Device
Monitoring) and FSS Smart Recon will help ACLEDA consolidate all merchant related data across
multiple systems under one application, provide real-time insights into their multi-estate POS
network and reduce downtime. FSS Solution will help ACLEDA in bringing merchant operations
under one interface that would lead to significant TAT gains (Turn Around Time) and cost
rationalizations.
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“It was imperative for us to first streamline and consolidate our merchant management systems
before we could focus on the next phase of growth in our business. ACLEDA was looking for a reliable
technology provider who could not only provide a comprehensive solution but could also handle the
scale and help us optimize our current operations. FSS was quick to understand our core issues and
identify business needs. FSS’ years of experience providing similar technology solutions, product
credentials, demos, and a strong relationship with our regional partner Conscala, gave us the
confidence to go ahead and partner with FSS and transform our merchant systems and reconciliation
operations.” –Dr. In Channy, President & Group Managing Director of ACLEDA Bank Plc.
Conscala is one of the growing technology consulting and services company in Singapore,
specializing in banking and payments domain and have a dedicated focus towards the emerging
markets of the Asia Pacific. Conscala had an existing partnership with ACLEDA, and further entered a
partnership with FSS to provide local account management support and ensure timely completion of
milestones while working closely with FSS’ delivery team.
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Commenting on the latest partnership, Jaishankar A L, CEO FSS said “We have ambitious plans for
the ASEAN region and are proud to have ACLEDA Bank as our first client in Cambodia. To have
ACLEDA as the latest addition to our customer base is a testament to FSS’ capability to deliver in new
and growing markets. We, along with our partner Conscala, are determined to deliver a strong
merchant management system that not only transforms bank’s current merchant business
operations but also provides a strong base for scalability for its future business growth.”FSS Smart Recon, which is benchmarked to process 2 million records per second, was one of the only
solutions that could match such scale and velocity of transactions. Post deployment, FSS’ solution
will help the bank automate reconciliation and settlement processes and reduce manual
interventions.
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