The first a while took crash of fintech and banking system in Cambodia on November 25. Many users found that the ABA system could not be used normally, and both online transfer and offline card swiping were affected.
ABA Bank issued a notice on Facebook saying that the system upgrade had a deviation last night (24th) and was not completed on time. The bank was expected to complete the system upgrade at 12:30 p.m., but the ABA banking system was not back to normal until around 3 p.m. that day.
The central bank issued a statement pointing out that on November 25, the ABA banking system malfunctioned from 3:00 a.m., causing inconvenience to the public. The central bank has been working closely with the bank to expedite the resolution.
On November 26, the National Bank of Cambodia said it would take “procedural action” against ABA Bank after the system crash of the Advanced Asian Bank (ABA) resulted in users being unable to use ATMs, credit cards, and mobile banking services.
The central bank reminds all banks and financial institutions to pay attention to the implementation of the “Information Technology Risk Management Guidelines”. Under the terms, all financial institutions must resolve any technical issues within 2 hours. The central bank will learn more about the root causes of the collapse of the ABA banking system and take procedural action accordingly.
In addition, the Central Bank of Cambodia stated that it will continue to encourage the public to use electronic payment services due to their efficiency and ease of use.
