Mongolia –– AND Solutions Pte. Ltd. (“AND Solutions”), a part of the AND Global Pte. Ltd. group companies, has reached an agreement with Cambodian bank SBI LY HOUR PLC. (“SBI LY HOUR”), to supply proprietary, cutting-edge financial technology.
AND Solutions will be providing lending and credit scoring solutions for SBI LY HOUR, a commercial bank in Cambodia with 45 branches nationwide. SBI LY HOUR acquired its banking license in March 2020 after a joint venture was established by SBI Holdings together with LY HOUR Group and currently operates in the retail banking sector in Cambodia.
AND Solutions’ parent company AND Global closed its Series A funding round after securing investment from and launching a global open alliance with Marubeni Corporation and SBI Holdings. The Mongolia-born Singaporean startup offers “Fintech as a Service” (“FaaS”) – fintech solutions and implementation support, helping (a) financial institutions (such as banks and non-bank financial institutions) to integrate AI-powered credit scoring system, digital wallet, e-commerce, electronic payment and digital lending systems into their existing and new businesses through Open API; and (b) financial & non-financial institutions (such as telecommunication providers and retailers) to build their own digital ecosystem.
About AND Solutions Pte. Ltd.
Founded: January 2020
AND Solutions Pte. Ltd. is the international expansion arm of the Singapore-registered fintech startup AND Global Pte. Ltd. The company was founded in January of 2020 and offers “Fintech as a Service” products of varying customization to clients globally, in industries including finance and telecommunications.
About SBI LY HOUR PLC.
Founded: March 2020
SBI LY HOUR Bank Plc. is a subsidiary of SBI Holdings, Inc. which was established in July 1999, is a listed company in Tokyo Stock Exchange. The Bank’s objective is to provide in any or all commercial banking business to individuals, SMEs, companies, and corporations in general as a contribution to socio-economic development in Cambodia and elsewhere as conducted by all commercial banks internationally.