SHB has been recognized as the ‘Bank with Outstanding Innovative Products and Services’ at the recent VOBA 2024 (Vietnam Outstanding Banking Awards 2024) for its ‘Pre-approved Unsecured Overdraft Product Approved Online’. This award acknowledges SHB’s creativity and innovation in developing convenient and suitable products and services for its customers.
VOBA, now in its 13th year, is organized by the International Data Group (IDG) in coordination with the Department of Information and Communications (DIC), the Ho Chi Minh City Department of Industry and Trade (CSID), the Ho Chi Minh City Institute for Development Research, the University of Economics and Law (UEL), the Vietnam Bankers Association (VNBA), and the Vietnam Digital Communications Association (VDCA).
The ‘Pre-approved Unsecured Overdraft’ product is entirely digital and accessible via the SHB Mobile app. Customers can open an overdraft account within just 1 minute, meeting their immediate consumption and shopping needs. SHB provides 24/7 online support for this overdraft service, eliminating the need for customers to visit a physical branch and freeing them from the bank’s operating hours. This not only saves time but also reduces costs for customers.
Customers can also review their online credit contract with SHB and the general conditions of the overdraft product for each period to make informed capital usage plans. With features like limit, balance, and interest rate inquiries, branch management, transaction history, fund transfers, account changes for debt collection, and repayment reminders, customers are empowered to take control of their finances and make rational resource arrangements to maintain the best credit quality. SHB ensures the security of customers’ personal loan information during the registration and overdraft limit usage processes, employing the most modern security technology to give customers peace of mind whenever and wherever they transact.
Placing customers and the market at its core, SHB has continuously innovated and introduced improvements to its processes and product development. The “Pre-approved Unsecured Overdraft” product is one such innovation, offering convenience and speed to customers and contributing to the promotion of consumer credit while curbing loan shark activities, in line with the State Bank’s orientation.
SHB representative (left) receiving the award for ‘Bank with Outstanding Innovative Products and Services’
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“We are deeply honored to receive the award for ‘Bank with Outstanding Innovative Products and Services’ at VOBA 2024. This prestigious award recognizes SHB’s efforts in accompanying our customers and providing superior products. It also serves as a motivation for SHB to continue our comprehensive and powerful transformation journey, affirming our position as a leading financial institution in the region and internationally,” shared the SHB representative.
Since the beginning of the year, SHB’s products and solutions have garnered recognition from international organizations. At the Digital CX Awards 2024, SHB was the only Vietnamese bank to win two awards: ‘Most Outstanding Digital Platform Experience – Cash Management Platform’ for its ‘SLINK Account Collection Service’ and ‘Best Use of Technology for Digital Customer Experience’ for its ‘ACAS Automatic Credit Approval System’. Notably, both digital solutions were independently researched and implemented by SHB using internal resources and personnel.
The Digital CX Awards is an annual event organized by The Digital Banker magazine, with evaluation support from partners PwC, Deloitte, Forrester, and Capco. It is the only award system globally that recognizes and honors pioneering innovations in digital customer experience within the global financial ecosystem.
In the first-ever Fortune Southeast Asia 500 list, which ranks the 500 largest financial corporations and enterprises in Southeast Asia, SHB ranked 137th overall and 17th among Vietnamese financial institutions and enterprises.
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