VietinBank ventures to virgin land to connect businesses globally
VietinBank ventures to virgin land to connect businesses globally
VietinBank has freshly launched its digitalised Customer Connectivity service on March 26, as part of an attempt to connect local small- and medium-d enterprises (SME) customers to a network of 15,000 CEOs in 113 countries worldwide for business and trade opportunities.
Going digital across Southeast Asia
This service is developed by VietinBank and UK-based fintech company Opportunity Network (ON). What differentiates it from other e-commerce platforms is that VietinBank’s Customer Connectivity is built up based on an efficient algorithm to enhance the pool of opportunities available for global cooperation and link the demand of each member in a simple, easy, and effective manner.
Each customer or member of the network is properly introduced and selected by reputable financial institutions based on certain criteria, such as business scale and credit rating. As a result, each member will be able to access a network that connects requests and reliable business opportunities.
The innovation is practical for Vietnamese SMEs whose customer network is said to be rather limited and the businesses themselves are spending big money and human resources to find partners and investors.
With Customer Connectivity, businesses can look for multiple opportunities for growth, including market expansion and business marketing. What is more, they can also seek for strategic investors, technologies, and human resources, mergers and acquisitions (M&A) opportunities, joint venture partners, even machinery and equipment improvements.
SMEs can then expand their business operations beyond borders, facilitate cross-border trade cooperation, as well as maximise the use of assets, capitalisation, and develop their business.
Given the cooperation with ON, VietinBank has now become the first bank in Southeast Asia to introduce its customers a new means of connection through the use of digital technology.
With some 50 per cent of the bank’s customers being SMEs, VietinBank will be in the lead of the pack in making the most of advanced technologies and innovation to help corporate customers fulfill their business goals and reach further internationally.
Let customers take the lead
It is simple to sign up for the service, as qualified businesses will receive an invitation from VietinBank to join. Businesses can then fill out the registration form to become members and get themselves ready to access a whole new world of opportunities.
It is a rather secure programme as each opportunity is listed anonymously to ensure the customers’ privacy. Information on the partners selected will only be shared with the bank’s customer upon the approval of the partners themselves.
VietinBank will accompany the customers along the process or the deal, providing financial solutions and recommending appropriate products and services.
Tran Cong Quynh Lan, deputy general director of VietinBank, said, “VietinBank is always on the move. We provide financial solutions with deep knowledge and unique ideas, and we bring outstanding value and experience to our customers. The value that our Customer Connectivity offers the corporate segment, particularly the SME ones, is indeed very attractive.”
“Through the collaboration with a fintech firm, VietinBank desires to create as many new and innovative services as possible, to actually meet the business needs in every stage of growth. At the same time, we give effective solutions to our customers in a bid to integrate into the digital age one step at a time, supporting them in making the right decisions in business and everyday life,” said Lan.
