Huawei Technologies (Cambodia) Co. Ltd. and the Cambodian Association of Finance and Technology (CAFT) have signed a Memorandum of Understanding (MoU) to boost Cambodia’s fintech sector, with a focus on strengthening cybersecurity, building resilient banking systems, and enhancing personal data protection, as reported by Khmer Times.

The MoU, was agreed and signed by Chief Financial Officer of Huawei Cambodia, Eason Xu and and the Board Secretary General of CAFT, Tomas Pokorny during 'CamTech Summit 2024'.

"This MoU is a crucial step towards securing the future of Cambodia's finance and technology industry," Pokorny said. "As finance and technology companies grow, it’s essential that they are equipped with the right tools and knowledge to protect their systems and customers."

Xu expressed Huawei’s commitment to supporting Cambodia's fintech ecosystem. "Many banks have been focussing on digital transformation; however, recent cybersecurity incidents have shown the need for stronger ICT infrastructure resilience," Xu said. "Huawei has rich experience in the financial services industry and is ready to share its best practices and end-to-end solutions to protect Cambodia’s financial systems."

Dell Technologies, a new sponsor of CamTech, also emphasised its role in supporting the fintech sector. "Dell Technologies is focused on helping financial institutions optimise their data and leverage AI to drive innovation," said Mak Chin Wah, Managing Director of Emerging Markets at Dell Technologies. The partnership between Huawei and CAFT will focus on raising cybersecurity standards, sharing best practices for resilient banking systems, and improving personal data protection in Cambodia’s fast-growing fintech industry.