Sacombank has been undergoing a comprehensive digital transformation in recent years, with a strategic focus on enhancing its management and operations. This shift also serves as a key enabler for the development of its digital banking ecosystem, aiming to provide optimal experiences for its customers, especially small and medium-sized enterprises (SMEs). SMEs constitute a significant segment within Sacombank’s corporate customer base and represent a large proportion of businesses in Vietnam.
Nearly 150,000 businesses have embraced Sacombank’s electronic channel services, particularly its Internet Banking platform. This channel offers a secure and feature-rich environment, catering to a range of financial needs such as account opening, domestic payments, international money transfers, and letter of credit issuance. It also provides a variety of authentication methods and approval models, ranging from single to multi-level, tailored to the scale of businesses, from micro SMEs to larger SMEs. All transaction invoices and documents on Sacombank’s electronic channel are digitally signed by the bank using public key infrastructure, and the electronic invoices are provided in .xml format for seamless tax information exchange with tax authorities.
Sacombank has integrated modern technologies like OCR (Optical Character Recognition), RPA (Robotic Process Automation), digital signature verification, and an eKYC platform. These innovations enable customers to perform tasks swiftly and conveniently without visiting branches or manually entering data during online account openings and ancillary service registrations.
The bank has issued nearly 42,000 business cards, providing effective financial management support to businesses by separating personal and corporate expenses. These cards meet the short-term capital needs of businesses and offer attractive benefits through linked partnerships.
Sacombank offers a range of smart payment solutions, including an online payment gateway, POS machine payments, Tap to Phone, and Sacombank QR Pay, which streamline and enhance the efficiency of business operations and sales.
Additionally, Sacombank has upgraded its international payment transaction inquiry service via SWIFT GPI on its website and introduced Swift Pre-validation for beneficiary information verification before making international payments. This helps prevent errors and minimizes potential risks associated with delayed payments. Notably, the bank has also implemented SWIFT GO for international money transfers, offering a fast and cost-effective solution for both individual and corporate clients. With SWIFT GO, beneficiaries abroad can receive funds within a maximum of four hours through linked correspondent banks.
The Asian Banking & Finance magazine is a renowned publication that provides insights, analysis, and commentary on the dynamic and ever-evolving financial services industry. Its audience primarily comprises senior executives and decision-makers in the Asian financial and banking sector.
The ABF Retail Banking Awards, organized annually by the magazine, recognize and celebrate financial institutions that have made significant contributions to the development of the Asian market through the introduction of innovative and groundbreaking products and services. Over the years, the ABF Retail Banking Awards have established themselves as one of the most prestigious awards in the financial and banking industry, and the recognition bestowed by these awards has a positive impact on the business performance of the participating enterprises.
