KBZ Bank Deputy CEO Marlene Nang Kham Noung Receives ASEAN Entrepreneur Award for Deepening Financial Inclusion and Equality

Yangon, Myanmar, 10 September 2020 – Daw Marlene Nang Kham Noung, Deputy CEO of KBZ Bank, was presented with the ASEAN Entrepreneur Award under the ‘Empowering Women’ category. The award, supported by South Korea’s Ministry of Foreign Affairs and the ASEAN Secretariat, recognises Marlene as one of ASEAN’s top business leaders in 2020 for her outstanding contribution to deepening financial inclusion and equality in Myanmar through her work at KBZ Bank. Since beginning her role as KBZ Bank’s Deputy CEO in 2017, Marlene has been responsible for spearheading KBZ Bank’s digital transformation, including launching Myanmar’s first bank-led mobile wallet – KBZPay. Launched in 2018, KBZPay has reached six million users and more than 290,000 merchants and agents, of which more than 52% are businesses run by women. The platform also connects consumers with microentrepreneurs, e-commerce companies, e-gov services, educational institutions, and employers across Myanmar.

Daw Marlene Nang Kham Noung, Deputy CEO of KBZ Bank said, “It is an honour to receive this accolade on behalf of Myanmar and the team at KBZ Bank. It is uplifting that our support for Myanmar’s digital transformation and commitment to lead the country into the digital age is being recognised as an ASEAN success story. As one of the final frontiers in Asia, Myanmar has the potential to leapfrog its economy by leveraging strong digital payments platforms that can enable wider financial access. KBZPay has allowed millions of users in Myanmar to conveniently and securely connect with everyday services through their mobile phones while transforming the way they interact with their finances.”

To date, the platform has facilitated more than USD 9 billion in transactions while granting millions of people access to financial and digital services for the first time. Most recently, the platform was boosted by the introduction of shopper and personal loans, digital life insurance, and a donation function, which allows people to donate to charities within a single platform.

“KBZPay has shifted the focus of the financial services industry beyond physical bank branches, helping to lay the foundations to attain our development aspirations as a country. We will continue our work to achieve 100 percent financial inclusion and support communities across the country,” added Marlene.

Marlene also oversees the bank’s HR transformation and established its Wholesale Banking division. Her initiatives have cultivated an intrapreneurial environment at the Bank, where cross-functional teams work together to co-create fast-growth strategies and co-develop cutting-edge products and services that push the boundaries of what is possible for the industry and people across Myanmar.

“Financial inclusion and equality is critical to economic growth, social progress, and sustainable development. Through KBZPay, thousands of female micro-entrepreneurs now have a platform to store and manage their finances safely, and to connect with millions of customers. These platforms are also supported by many women leaders at KBZ Bank, where 3 out of 5 senior leadership roles are held by women. I’m proud that our commitment to equal opportunity is being set both within and beyond the bank,” concluded Marlene.

Co-organised by Maekyung Media and the ASEAN-Korea Center, the 2020 ASEAN Entrepreneur Award recognises business leaders in the ASEAN region who have made a significant impact in their field. Past winners include entrepreneurs from ASEAN’s home-grown unicorns and innovation-led businesses, such as Nadiem Makarim, Founder of GO-JEK, Thai Huong, Chairwoman of TH Group, and Ferry Unardi, CEO of Traveloka.

After careful deliberation by the award organisers and South Korea’s mission to ASEAN, this year’s award was presented at the 21st World Knowledge Forum in Seoul, South Korea, on 16th September. Now in its fifth year, the ASEAN Entrepreneur Award programme aims to help strengthen bonds between ASEAN and Korean businesses.