Logo of Phnom Penh Post newspaper Phnom Penh Post - ANZ’s technology investments a big risk ‘but worth it’: CEO

ANZ’s technology investments a big risk ‘but worth it’: CEO

Grant Knuckey, CEO of ANZ Royal
Grant Knuckey, CEO of ANZ Royal, reflects on the success of banking technology his bank introduced to Cambodia. Heng Chivoan

ANZ’s technology investments a big risk ‘but worth it’: CEO

Nearly a decade since entering the Cambodian market, banking giant ANZ Royal is looking forward to yet another year of massive growth due to its dedication to technology and innovation.

Since 2005, ANZ Royal has expanded to serving around 75,000 retail, institutional and commercial customers through 17 branches spread throughout six provinces in the Kingdom. Last year, the bank was named the “Best Foreign Bank” in Cambodia by International Data Group.

CEO Grant Knuckey credits the exponential growth to the bank’s commitment to emerging technology. “ANZ Royal is the catalyst for a wave of innovation in Cambodia’s banking sector,” Knuckey said. “When we first got here, there were no ATMs, credit cards or Internet banking and we brought them all to the market.”

Soon, they became commonplace as more local banks followed ANZ Royal’s lead. “It was frankly a big risk but it was worth it,” Knuckey said.

Today, the bank continues its pioneering tradition with the launch of new $10-million internet banking platform Transactive.

Through a range of cash management functions, the integrated web-based cash management platform promises to provide Cambodian businesses with the proper support to grow their businesses across the Asia.

“This is quite a big leap ahead,” Knuckey said. “The platform and the functionality it has for customers is light years ahead in terms of what it could do in the market.”

Transactive enables customers to have complete visibility of their accounts and control all their transactions and financial information through the internet. It offers flexibility by giving customers the ability to make transactions whenever they need.

In less than a year, Knuckey said that Transactive has quickly become an essential component in ANZ Royal customers’ business activities. “The take-up has been very strong but more importantly, the customer feedback has been fantastic,” he said.

According to Knuckey, customers have relayed to him that the internet banking platform has not only made their financial administration more secure but also helped them make informed business decisions by giving them a better overview of their cashflow.

Apart from Transactive, ANZ Royal has also increased accessibility for customers through its partnership with Cambodian microfinance institution HatthaKaksekar Limited (HKL).

The partnership, which bridges clients from varying sides of the financial spectrum, is the first of its kind in Cambodia. Clients from both financial institutions can now perform transactions through either company’s branches or ATMs.

Through the partnership, ANZ Royal has increased its presences outside of more urbanised cities.

“The alliance is not just a document but a significant technology solution,” Knuckey said. “Customers can deposit their money through HKL in the provinces and have it show up in their ANZ Royal accounts in real time.”

Building up to its tenth anniversary, the commercial bank is focusing on further improving its services by looking outside of the banking sector.

Knuckey said they’re working with reputable organisations in the tourism industry to develop even better services that will keep them as the lead bank for multinational companies, sizable businesses with revenues more than $5 million and retail customers from Cambodia’s affluent and emerging affluent populations.

“We’re always searching for more and it’s fair to say that we have more exacting standards with the kinds of services we want and currently offer our target customers than most of our competitors,” Knuckey said.


  • Hun Sen: Stop Russia sanctions

    Prime Minister Hun Sen said sanctions against Russia as a result of its military offensive in Ukraine should be stopped as they have produced no tangible results, and predicted that a global food crisis would ensue in 2023 as a consequence. Speaking to an audience at

  • Chinese tourists 2.0 – Coming anytime soon?

    Regional tourism is grappling with the absence of the prolific travellers and big spenders – the Chinese tourists. Cambodia, which has welcomed over two million Chinese tourists before Covid-19, is reeling from the economic loss despite being the first to fully open last November ‘To put

  • PM reflects on shoe throwing: Free speech or act of violence?

    Prime Minister Hun Sen on May 17 questioned whether a man who threw a shoe at him while he was in the US was exercising freedom of expression or if it was an act of hostility. Hun Sen was referring to an incident last week when

  • Siem Reap’s Angkor Botanical Garden opens

    The Angkor Botanical Garden was officially opened on May 19 with free entry for both local and international visitors for the first six weeks. The garden was established on a nearly 15ha plot of land in Siem Reap. “After the first six weeks, Angkor Botanical Garden

  • Pub Street on the cards for Battambang

    The Battambang Provincial Authority has announced that it is considering establishing a Pub Street in the area around the heritage buildings in Battambang town in a bid to attract more tourists. Battambang provincial governor Sok Lou told The Post that the establishment of a Pub

  • Hun Sen: Don’t react to hostility

    Prime Minister Hun Sen urged tolerance and thanked members of the Cambodian diaspora for not reacting to the hostility on display towards him by others while he was in the US to attend the May 12-13 ASEAN-US Special Summit in Washington, DC. In an audio