Vietnamese banks boost IT use

Jun 23rd at 14:02
23-06-2018 14:02:14+07:00

Vietnamese banks boost IT use

Viet Nam has big potential in applying 4.0 technology to develop retail banks and payment utilities.

 

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 Viet Nam.

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 (Viet Nam 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 Viet Nam (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 Viet Nam, the Sai Gon – Ha Noi 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.

bizhub



NEWS SAME CATEGORY

Banks hope to lure foreign investors

Despite the current increasing foreign investment inflows, merged and acquired banks will consider selling stakes to foreign investors after completing the...

Vietcombank adjusts transaction limits on mobile banking

The Joint Stock Commercial Bank for Foreign Trade of Viet Nam (Vietcombank) has announced the adjustment of transaction limits on its online service VCB-Mobile...

Ho Chi Minh City’s remittances top $2bn dollars in five months

Over US$2 billion was sent to Ho Chi Minh City from outside the country during the first five months of 2018, nearly doubling the recorded figures from the first...

Dollar hike won’t significantly affect VN’s economy

The US dollar has appreciated significantly against the Vietnamese dong in the past few days in the wake of the US Federal Reserves (Fed)’s interest rate hike last...

Banks cut short-term interest amid good liquidity

Some commercial banks have continued to reduce the interest rate for short-term deposits by 0.1 to 0.3 percentage points in the past week thanks to good liquidity.

KEB Hana Bank BIDV’s potential strategic investor: VCSC

The potential strategic investor of Bank for Investment and Development of Vietnam (BIDV) is Korea’s KEB Hana Bank, reported Viet Capital Securities Company (VCSC).

SBV tightens corporate bond purchase by banks

State Bank of Viet Nam has tightened regulations on corporate bond purchase by credit institutions and foreign banks’ branches.

Central Bank asks banks to rectify hotline issues

The State Bank of Viet Nam (SBV) has asked banks to provide enough switchboard operators and improve technical infrastructure to process complaints efficiently.

HCM City carries out credit evaluation project

HCM City expects its project on international credit evaluation to be highly effective, contributing to the prestige, reputation and expansion of financial...

Thai KBank moves another step to bolster local SMEs

KASIKORNBANK and Vietnam’s Agency for Enterprise Development last week signed a memorandum of understanding on the promotion of the development of small- and...

Bank stocks

Insurance stocks


MOST READ


Back To Top