KBZ Gateway Announces 200 Bank Branches Connected Via Satellite

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KBZ Bank has hooked up 200 of its branches to sat­ellite technology to speed up transactions and help the company with its e-commerce push.

Its subsidiary KBZ Gate­way has installed Very Small Aperture Terminal (VSAT) technology, which enables communication via satellite, at its branch­es across the nation.

KBZ, the country’s larg­est lender, recently reaf­firmed its commitment to ‘brick and mortar’ branches, saying a physi­cal presence was key to establishing trust among the un-banked popula­tion.

The proliferation of VSAT technology at bank branches, particularly in the country’s remote rural areas, enables the high-speed transfer of data via satellite dish necessary for e-commerce, credit card use and high speed broadband, the company says.

“VSAT has brought high-speed connectivity and advanced telecom­munication infrastructure to KBZ’s banking sector in order to provide better service for the custom­ers.” said Stephane Lam­oureux, chief executive of­ficer of KBZ Gateway.

KBZ Gateway hopes Investing in VSAT in­frastructure will help branches become more efficient and cost-effec­tive.

VSAT technology, which uses a small dish directed at a satellite, enables data to be received and sent remotely via a control centre known as a ground station. More businesses in Myanmar are utilising VSAT technology preced­ing the rollout of fixed line broadband.

KBZ Gateway also of­fers its VSAT services for small and medium enter­prise (SME) customers, like telco operators and internet service provid­ers, and government in­stitutions.

“We also have plans to upgrade our banking in­frastructure in order to provide more accurate, faster customer service,” said U Aung Kyaw Myo, senior managing director of KBZ bank.

KBZ Gateway last year unveiled a ground station in Bago region. It will link all of KBZ Group’s sites countrywide and allow the company to offer sat­ellite broadband to other businesses including in­ternet service providers.

 

Source: Myanmar Business Today

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