CIMB Group, PLDT unit enters strategic parntership deal

PETALING JAYA: CIMB Group Holdings Bhd yesterday entered into a strategic collaboration agreement with leading Philippines telecommunications company, Philippine Long Distance Telephone Company’s (PLDT), to offer digital financial offerings and solutions in the Philippines and across Asean.
In a statement yesterday, it said CIMB Group Sdn Bhd entered into the agreement with PLDT’s wireless services provider, Smart Communications Inc and its wholly-owned digital unit Voyager Innovations Inc.
“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,” CIMB group CEO Tengku Datuk Zafrul Aziz Tengku Abdul Aziz said.
Meanwhile, PLDT chairman Manuel V. Pangilinan said CIMB is among the largest and most diversified Asean banks and its regional banking knowledge and presence across Asean will provide depth to the digital partnership.
CIMB has deep regional banking know-how and an extensive understanding of the needs of customers in the region, while the market-leading and innovative fintech solutions and strong digital payments ecosystem of Smart and Voyager strengthens the value proposition of PLDT, which is the market leader in the telecommunications industry in the Philippines in terms of customer base.