CB Bank has worked closely with Grab since it first began its operations in Myanmar in 2017. As the partnership evolved, CB Bank and Grab has successfully implemented API Integration, enabling drivers to instantly transfer earnings into their bank accounts without any processing delay.
“It is an honour that our work with CB Bank to extend mobile financial services among Grab drivers and delivery-partners in Myanmar has been recognised on the international stage with this prestigious award. Together, we have brought tens of thousands of Grab driver-partners into the formal banking system, enabling them to enjoy greater financial security, convenience and flexibility. A core component of Grab’s mission in Myanmar is to solve challenges and unlock economic potential using technology. It is a source of great pride that we have been able to achieve this for our valued Grab driver-partners,” said Cindy Toh, Country Head, Grab Myanmar.
“Grab is a key partner of CB Bank. We are incredibly proud and humbled to receive this prestigious recognition with Grab. We have invested considerable resources to promote financial inclusion and digital literacy right in the heart of Yangon and Mandalay, and enable thousands of Grab’s drivers and delivery-partners to access our formal banking platform in a short period of time.
Working with Grab marks a major milestone for CB Bank as we were able to successfully accommodate the requirements of a large tech company in the ASEAN region. This joint initiative is in line with CB Bank’s vision of offering banking as a financial and technology platform through our ecosystems banking strategy. We believe that banks cannot exist alone in this technology-driven era of the 21st century. Banks need technology capability when it comes to collaborating with ecosystem players. For CB Bank, this has been our primary focus since the country has reopened its economy to the global market in 2010. This award proves our commitment to go beyond boundaries since the project’s success depended on the trust and dedication of both partners. We look forward to further collaboration and realising new synergies with Grab,” said U Thein Zaw Tun, Managing Director – Business, CB Bank.
CB Bank recently also won Excellence in Leadership in Asia 2020 award from Euromoney due to its response to Covid19.
CB Bank is providing cash management solutions to support our corporate and institutional clients to meet their diverse needs. For more information, please contact CB Bank Corporate Banking Team, corporatebanking@cbbank.com.mm or +951 231 7697 during office hours.
