Tencent signs MoU with CCB Labuan to promote digitalisation

Source: IBS Intelligence 2020-05-29

Tencent, a provider of internet value-added services in China, announced the signing of a Memorandum of Understanding (MoU) with China Construction Bank Corporation Labuan Branch (CCB Labuan) in Malaysia. It entails the boosting of the digital banking development of CCB Labuan while promoting digitalisation among local enterprises in Malaysia with Tencent Cloud’s services.

Flying Wu, General Manager, Tencent International Business Group said, “Digital transformation is inevitable especially during these trying times when nearly every aspect of our daily lives has gone online. We are proud to collaborate with CCB Labuan to facilitate and be part of this transformation among local businesses in Malaysia, demonstrating our commitment to the Malaysian market. With our technological capability, operational expertise and product innovations such as our cloud and WeChat ecosystem, we look forward to joining hands with CCB Labuan to support the digital development in Malaysia.”

In line with the collaboration, Tencent will leverage its financial cloud technology and mobile payment capability, while CCB Labuan will contribute its business influence and network in the Malaysian financial market.

Felix Feng Qi, Principal Officer of CCB Labuan stated, “As a leading financial institution in Malaysia, we are grateful for our collaboration with Tencent, through which we will leverage our resources and expertise to offer digital banking solutions that would benefit our customers. Through the MoU, we are now able to incorporate partners and ecosystem resources of WeChat Pay Malaysia, backed by WeChat, one of the world’s largest social communication platforms, to achieve interconnection among business and individual accounts. We truly look forward to more collaboration with Tencent, together fostering a more digital future in Malaysia.”

Both parties will explore cooperation opportunities between Tencent’s products including the ERP system for SMEs and video conferencing tool; WeChat, including WeChat Pay, among others; and CCB Labuan’s services, including the blockchain settlement and cross-border SMART match-making platforms.

Tencent signs MoU with CCB Labuan to promote digitalisation

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