Vietnamese banks boost IT use
The Industry 4.0 trend involves a wave of digitalisation, changing the business models and activities of many banks.
Nguyen Dinh Tung, General Director of Orient Commercial Bank (OCB), said the participation of digital banks would be helpful for domestic and international enterprises when doing business and investing in Vietnam.
Banking transactions could become quick and easy and could be done anywhere without needing to visit traditional branches, Tung told Thoi bao Kinh te Viet Nam (Vietnam Economic Times).
Investment in digital technology by Vietnamese banks would be a revolution for all customers, he added.
The Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) was recently awarded SWIFT’s Global Payment Innovation Initiative (GPI) certificate.
Dao Minh Tuan, Deputy General Director of Vietcombank, said by becoming a GPI bank, Vietcombank was ready to provide comprehensive solutions which could meet the demands of customers in money transfer activities by boosting the process, increasing its transparency and status checking ability.
The bank would continue to implement new utilities to improve the processing speed of transactions in the future, he said.
Shinhan Bank is also implementing digital banking to provide more non-cash payment channels to Vietnamese customers.
Shinhan’s ATM cardholders can conveniently withdraw money using Samsung Pay at ATMs without cards.
With the orientation of becoming a leading retail bank in Vietnam, the Sai Gon – Hanoi Bank (SHB) has implemented key systems for information and technology (IT) activities.
SHB this year has been continuing to implement a series of new solutions on modern technology platforms such as centralised data storage systems, smart governance, data analysis applying big data and Artificial Intelligence (AI) in order to enhance data analysis capacities and serve business development.
VietABank is boosting investment in IT systems to develop a digital banking strategy as part of the fourth industrial revolution. Recently, the bank introduced products applying AI such as Smart Branch and ChatBot.
Nguyen Xuan Vu, a member of the management board at Sai Gon Thuong Tin Commercial Joint Stock Bank (Sacombank), said by using modern IT platforms, Sacombank has the opportunity to develop digital banking, introduce convenient products and services, quick payment solutions, while increasing security.
Internet banking and mobile banking systems by Sacombank have been upgraded to the Omnichannel platform, enabling electronic transaction channels of the bank to keep pace with IT trends around the world, he said.
The bank would continue researching and boosting co-operation with partners to create more products suitable with markets and meet non-cash transaction demands of customers, he said.
Do Minh Phu, TPBank’s management council chairman, told the newspaper that the bank had prepared platforms as part of a 2018-2023 plan with the goal of becoming one of the top ten banks which have developed sustainably and strived to keep the top position in digital banking development.
Related News
SBV asks to issue revised decree on foreign ownership cap at Vietnamese banks
20:30 | 01/04/2023 Finance
Enterprises’ worry is being in the debt group for banks
13:39 | 31/03/2023 Import-Export
Being many "hot" issues at the general meeting of shareholders of banks
09:24 | 30/03/2023 Finance
Lifting the challenge of capital for businesses
14:52 | 19/03/2023 Import-Export
Latest News
Corporate bonds worth 1.1 billion USD issued in March
13:55 | 06/04/2023 Finance
Tax revenue is estimated at VND 426,922 billion in the first quarter
09:56 | 06/04/2023 Finance
Nearly 400 complaints about insurance distribution through banks on Ministry of Finance hotline
14:47 | 04/04/2023 Finance
Central bank starts huge credit package for social housing projects
14:42 | 04/04/2023 Finance
More News
In Q1, State revenue estimated to rise by 1.3%
13:28 | 04/04/2023 Finance
Consider raising the level of penalties to ensure fairness and transparency in the stock market
13:27 | 04/04/2023 Finance
Central bank cuts policy interest rates to spur growth
17:43 | 02/04/2023 Finance
Ensure policies to attract investment when implementing global minimum tax
10:33 | 02/04/2023 Finance
Solutions to attract FDI when implementing the global minimum CIT
11:38 | 01/04/2023 Finance
Effective implementation of tax incentives as driving force for growth in trade turnover between Vietnam and Cuba
13:43 | 31/03/2023 Finance
Bringing the policies on reducing land rent and water surface rent into life
15:41 | 29/03/2023 Finance
The more delayed the investment disbursement is, the more accumulated the capital expenditure will be
10:22 | 29/03/2023 Finance
Ministry of Finance summarizes the 10-year implementation of the Resolution of the 8th meeting of the 11th Central Committee
10:20 | 29/03/2023 Finance
Your care
The system has not recorded your reading habits.
Please Login/Register so that the system can provide articles according to your reading needs.
Corporate bonds worth 1.1 billion USD issued in March
13:55 | 06/04/2023 Finance
Tax revenue is estimated at VND 426,922 billion in the first quarter
09:56 | 06/04/2023 Finance
Nearly 400 complaints about insurance distribution through banks on Ministry of Finance hotline
14:47 | 04/04/2023 Finance
Central bank starts huge credit package for social housing projects
14:42 | 04/04/2023 Finance
In Q1, State revenue estimated to rise by 1.3%
13:28 | 04/04/2023 Finance