ESTRATEGIA 9 EXTRACCIÓN DE INFORMACIÓN 132

Today, information of all kinds is transmitted easily, inexpensively and instantaneously around the world, providing finger-tip access to anyone with a laptop computer, cellular phone or palm pilot. As an example, the most popular items on the Federal Reserve’s public web site – including statistical reports on foreign exchange rates, selected interest rates, consumer credit and industrial production, along with press releases and Federal Open Market Committee announcements – are accessible by wireless remote. The growing importance of the Internet as a distribution channel is also eroding the traditional barriers between financial service providers and technology firms. Banks are increasingly providing technology services, such as account reconciliation software and “web- enabling” assistance, while technology firms are making inroads into services once the domain of banks and brokerage firms, such as financial planning and

bill payment. Indeed, many banks are beginning to think of technology firms as competitors or are contemplating ways to partner with them.

Cambodia in particular, lacks infrastructure and computer knowledge so Internet use is limited. English language proficiency is also a problem. Today, Cambodians are beginning to use modern technology in their everyday lives. Shiny new cars shuttle Cambodians across the country in a few hours, a journey which once took days. Mobile phones allow cheap and reliable communication with loved ones far away, and digital cameras can make a permanent record of memorable moments. However, it is computers that have the potential to revolutionise Cambodian society. Arguably the most important development, and certainly the most popular, is the Internet. As a worldwide network, the Internet links Cambodians to the global community, allowing it to understand what is happening around the world quickly and easily. Although few Cambodians are computer literate and Internet availability is limited, the Internet is already beginning to change Cambodia for the better. According to statistics, there were only 6,000 Cambodian users in 2000. This figure has since increased to 44,000 Cambodian users which is equal to 0.3% of the population. This means that the number of Internet users in Cambodia is still low, although Internet providers are heavily investing in the sector. Statistics from the Ministry of Post & Telecommunication indicate that, between 2000 and 2003, there were only 159 Internet cafés nationwide.

Although the Internet opens the door to a wealth of information and communication, allowing quicker, more efficient work, the service is currently beset with difficulties. Fast and reliable Internet connections are usually dependent on advanced infrastructure so, although most schools and universities in Phnom Penh have Internet access, the story is very different in provincial Cambodia. In rural areas, many do not even have access to electricity. There are now 7 ISPs in Cambodia, namely, Camnet, Bigpond (CogeTel), Open Forum, CaminTel, Telesurf, Camshin, and Casacom. Broadband Internet services are now being provided through ADSL wireless service or optic fiber in Phnom Penh. Optic fiber cable was installed from Thailand to Vietnam through a route of some Cambodian’s provinces. In addition, a loan agreement for “Greater Mekong Telecommunication Backbone Network Project (Cambodia Growth Corridor)” was signed in March 2005 between the Cambodian Government and JBIC and a project to install the total length of 400km of optic fiber cable connecting some provinces within Cambodia has already started.

61 Figure 9

Status of Installed IT Infrastructure Are the following IT Infrastructure installed in the country?

No. Item Yes/No

1 Communication Network Yes

Cable (Phone line) Yes

Satellite Yes

Fiber Optic No

2 Use of Cellular Phone Yes

Is it relatively wide spread? Yes

3 Use of Internet Yes

Is it relatively wide spread? No

4 National Payment System No

5 Operated by government agency / central bank No 6 Operated by an independent or private company No 7 Automated/Computerised Payment System No

8 RTGS No

9 National Securities Settlement System No Operated by government agency / central bank No Automated/Computerised Settlement System No

Figure 10

Status of Installed IT Infrastructure

Are the following IT-related products implemented in the country?

No. Item Yes/No

1 Credit Card Yes

National (only used in the country) Yes

International Yes

2 Debit Card Yes

National (only used in the country) Yes

International No

3 ATM Yes

Individual bank Yes

Nationally-shared ATM No

Internationally-shared ATM No 4 Electronic Fund Transfer (EFT) Yes

5 EFT at Point of Sale Yes National (only within the country) Yes

International No 6 Remittance Service No Domestic companies No International companies No 7 Phone Banking No Informational No

Transactional intra bank No Transactional inter bank No

8 Mobile/SMS Banking No

Informational No

Transactional intra bank No Transactional inter bank No

9 Internet Banking Yes

Informational Yes

Transactional intra bank Yes

Transactional inter bank No

10 Pre-paid card Yes

Figure 11

Status of IT-related Applications in Addition to IT-related Products Regarding IT-related applications in addition to IT-related products, are the

following applications implemented with IT?

No. Item Yes/No

1 Core Banking: General Ledger, Third Party Fund,

Loan, and Consumer Information File _No

2 Treasury No

3 Remittance No

4 Trade Finance No

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4. Impact of Impact of IT Implementation on Financial Institutions