“KBZPay, improving the quality of life in Myanmar through deepening financial inclusion and bringing greater connectivity to millions.”
KBZ Bank recognised that technology alone was not enough to achieve our mission for achieving 100% financial inclusion in Myanmar. In a country with limited digital infrastructure, KYC measures and digital literacy needed to be embedded in every step of the way, introducing mobile services at a pace that is right for people in Myanmar. To address this, the bank put in place a radically new approach to banking by turning our 18,000 employees into an on-the-ground force for financial inclusion. It developed a sophisticated mapping of customers, merchants, and agents and tasked branch teams with onboarding customers, agents, and merchants on the KBZPay network in their townships and wider communities. With this approach, employees had the critical opportunity to meet with customers, merchants, and small businesses face-to-face, ensuring that millions in Myanmar are well-equipped to use digital financial services safely and securely.