Vietnam honours outstanding banks in digital transformation for the first time

Friday, 2020-11-27 11:34:50
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The awards ceremony for outstanding banks (Photo: VNA)
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NDO - Five banks have been honoured for their digital transformation efforts for the first time within the annual Vietnam Outstanding Banking Awards 2020 organised by the Vietnam Banking Association and IDG Vietnam.

BIDV, Sacombank, TPBank, Vietcombank and VPBank each received the award on November 26 for their exceptional digitisation solutions over the past year.

In 2020 BIDV standardised its operations on the foundation of technology and develop digital banking services to promote cashless payment and increase coverage for customers without access to traditional banking services.

Sacombank provides its electronic banking services on multiple channels while TPBank is the first bank in Vietnam to roll out blockchain-based money transfer and an AI chatbot for round-the-clock customer service.

In early 2020 Vietcombank completed the transformation of its core banking system as well as the upgrade of its servers and transmission infrastructure to prepare for bank-wide digital transformation.

For its part, VPBank pioneered in working with fintech companies to expand its ecosystem.

At the awards ceremony, the organisers also honoured outstanding banks in various categories including retail banks, banks with innovative products and services, green credit, social responsibility, and support for high-tech agriculture.

The awards for outstanding fintech companies went to Moca, Momo, Smartnet and Trusting Social.