“Sacombank Streamlines International Online Payments: Swift, Transparent, and Accurate.”

As opportunities arise, small and medium-sized enterprises (SMEs) also face challenges in international transactions, including customs, remittance transfer times, exchange rate fluctuations, and transaction tracking and verification. Thus, an international payment platform that utilizes advanced technology, offering fast processing times, high accuracy, and tight transaction control, is crucial for businesses aiming to confidently expand globally.

Seamless Transaction Tracking and Verification with SWIFT GPI and SWIFT Pre-validation

Embracing the trend of financial globalization, Sacombank is among the first banks in Vietnam to simultaneously implement two cutting-edge technological solutions in international payment services: SWIFT GPI (Global Payments Innovation) and SWIFT Pre-validation. SWIFT GPI is a global standard with over 1,200 connections and handling more than $300 billion in transactions daily. Its key advantages include the ability to track payments end-to-end and swift processing, with nearly 100% of transactions completed within 24 hours. Additionally, SWIFT Pre-validation enables the validation of beneficiary information before a transaction, reducing errors and minimizing the risk of inquiries, especially when businesses venture into new markets.

Optimizing the Experience for Businesses

By adopting the latest SWIFT standards, Sacombank delivers a comprehensive and efficient international payment experience for its business customers, particularly SMEs, who play a pivotal role in economic growth.

Leveraging digital technology, Sacombank provides a multi-channel ecosystem, encompassing counter transactions, electronic banking, API integration, and connections to businesses’ internal management systems (ERP). Customers can conveniently track transaction statuses, know the exact arrival time of funds, associated fees, and intermediary banks involved—privileges previously associated only with global financial institutions.

Beyond speed and transparency, Sacombank has also enhanced its system’s automatic processing capability. The bank’s straight-through processing (STP) ratio currently exceeds 98%, far surpassing the regional average, and has been recognized by international organizations such as Wells Fargo, J.P.Morgan, Citibank, Standard Chartered Bank, and The Bank of New York Mellon for its international payment processing capabilities and quality.

Committed to Sustainable Growth alongside Businesses

Sacombank offers a comprehensive suite of services, including account opening, money transfers, L/C issuance, guarantees, foreign exchange trading, international payments, and trade finance and forex-derivative solutions. Notably, Sacombank continuously enhances its digital channels with online disbursement, e-KYC integration, multi-factor authentication, and innovative payment methods such as Tap to Phone and Sacombank QR Pay, enabling businesses to transact securely while streamlining processes and optimizing resources.