In Vietnam’s highly competitive securities industry, VFS stands out with its ambitious plan to transform its image and focus on becoming a fast-growing securities company. This transformation involves a smart business strategy and the development of specialized products tailored to individual customer groups.
VFS has already increased its charter capital to VND 1,200 billion in 2023 and plans to double it to VND 2,400 billion in 2024.
To achieve this significant increase in charter capital, VFS will offer existing shareholders a 1:1 ratio for new share issuance, releasing 120 million shares at a price of VND 10,000 per share. The offering is expected to take place in 2024, right after receiving approval from the State Securities Commission of Vietnam.
This substantial capital increase will enable VFS to strengthen its core businesses, invest in technology infrastructure, and enhance its financial technology capabilities, including the potential implementation of chatbot and AI bot systems to better serve its clients.
Focusing on Technology Infrastructure and Financial Technology Development
As Vietnam’s stock market continues to evolve with increased liquidity and the upcoming launch of the KRX system with new products, securities companies recognize the crucial role of technology as a differentiator in the market. VFS has been consistently focusing on technological improvements and researching chatbot and AI bot solutions for customer care. In July 2024, VFS completed the upgrade to Trading 2.0, introducing new features on its online trading platforms (Web trading and App Trading) to enhance transaction capacity, speed, and user experience for its clients.
Rebranding with the Message “Just-fit Solutions” and Tailored Products for Individual Customer Groups
In June 2023, VFS rebranded itself with a new image and introduced its business message, “Just-fit Solutions, Smart Investments.” The concept of “Just-fit Solutions” emphasizes practical and flexible financial solutions tailored to meet the unique needs of each client and partner. This message also guided the development of VFS’s specialized product portfolio for various individual customer groups.
A year after the rebranding, VFS launched a suite of products, including VFS NEW for new customers, VFS GROW for those seeking stable growth, VFS MARGIN+ for those looking to optimize financial leverage, and VFS PRO for experienced investors. This was also the time when VFS introduced its team of senior securities investment consultants with extensive industry experience. Aiming to accompany investors on their journeys, VFS launched VFS EXPERT, a product that has garnered significant interest. Typically, customers opening securities accounts receive market updates and advice from brokerage specialists. However, with VFS EXPERT, investors can choose a senior expert who aligns with their investment style and receive dedicated 1:1 consulting to stay abreast of market dynamics. This is a significant advantage for investors who want to select their advisors, have limited time to monitor the market, and require timely advice to make effective investment decisions.
Boost your finances with the VFS EXPERT product and our team of experts
The launch of this customized product suite not only demonstrates VFS’s commitment to expanding its individual customer base but also reflects its confidence in its product strategy and the expertise of its consultant team.
VFS’s Advantage Lies in its Timely Foundation, Keeping Pace with the Market’s Transformation and Seizing Upcoming Opportunities
As of May 2024, Vietnam had nearly 7.7 million securities accounts, equivalent to approximately 7.7% of the country’s population. According to the strategy for developing the securities market by 2030, Vietnam aims to reach 11 million accounts while also working towards an upgraded market status to attract more significant investment capital. This indicates the vast potential for growth in the securities industry. VFS’s proactive efforts in building a solid foundation, including capital, technology, and image, along with its product development, showcase the company’s potential for expansion and its serious and synchronized investment to seize the upcoming opportunities.
For detailed information about VFS’s products, please click here.
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Is rebranding a bank really worth the investment for the future?
Improving and innovating a brand properly can give businesses a competitive edge and help them highlight their products and core values to customers. However, it should be noted that this process can be costly and time-consuming.
