BIDV received 02 prestigious international awards for corporate products and services
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- 16:15 22/07/2024
DNHN - Vietnam Joint Stock Commercial Bank for Investment and Development (BIDV) has just been awarded the titles of "Best API Application & Open Banking Bank in Vietnam" and "Best Trade Finance Bank in Vietnam" for 2024 by The Asian Banker.
These awards are a testament to BIDV's efforts to bring convenient and efficient products and services to businesses.
Open banking - Shaping the future of financial services
The "Best API Application & Open Banking Bank in Vietnam" award is part of The Asian Banker's Financial Technology Innovation Awards. The award is assessed based on criteria such as the scale, scope, resources for open banking development, innovation, and the value provided compared to other products in the market.
Officially launched at the end of 2023, in just under 7 months, BIDV Open API has made a significant impact in the market, with BIDV receiving over 240,000 API calls through the sandbox, nearly 600 experience accounts, and more than 100 partners registered for integration. BIDV's integrated banking services have been widely spread on sales management platforms, school management, hotel management, port management, cash flow management (CMS), enterprise resource planning (ERP) platforms, and many software/applications in all fields of the economy.
Currently, BIDV is the bank with the most APIs distributed to the market (over 200 APIs). On the bank's Open API portal, there are 15 public API packages (over 130 APIs) and 5 customized API packages, helping customers and partners experience, understand how to use banking services, and decide the compatibility level among banks.
According to a representative of The Asian Banker, BIDV has strongly invested in technology to develop open banking, forming a new banking trend, shaping the financial services of the future. BIDV's efforts demonstrate a determination to lead the open banking trend in Vietnam. "Bringing customers a new, superior banking service experience on their own software, applications, collaborating with fintech partners to design financial solutions to enhance customer operations efficiency, promoting digital transformation for the Vietnamese market, is why we chose BIDV as the 'Best API Application & Open Banking Bank in Vietnam'."
Bringing trade finance products to international levels
The "Best Trade Finance Bank in Vietnam" award is part of The Asian Banker's Transaction Finance Awards, aimed at honoring financial institutions with outstanding achievements in trade finance, supply chain finance, and international payments. The award is judged by an independent panel of international experts with extensive background and experience in trade finance.
Recently, BIDV has brought high-quality trade finance products to businesses with quick and convenient credit approval procedures, combined with attractive foreign exchange and derivatives products to meet the increasing needs of businesses. The bank continuously updates new service products such as Factoring, Early LC Payment, or flexible collateral mechanisms in letter of credit issuance, automatic credit limit mechanisms in TTTM transactions... creating conditions for businesses to access capital promptly. Particularly, BIDV pioneered bringing Trade Finance and International Payments services to BIDV iBank digital bank, providing a diverse digital ecosystem for import-export businesses.
BIDV has provided Supply Chain Finance solutions to more than 50 leading industry enterprises and FDI enterprises nationwide, attracting more than 1,700 suppliers, distributors in potential fields (in which the number of SMEs successfully accessing working capital is nearly 700 enterprises). Besides suitable and highly practical product solutions, BIDV provides the BIDV SCF application – to digitize Supply Chain Finance activities for customers. Businesses can easily conduct transactions on digital channels anytime, anywhere, transaction processing time is also shortened thanks to timely synchronized information among stakeholders.
Receiving awards from prestigious financial magazines like The Asian Banker is a confirmation of BIDV's service quality, reflecting dedication, professionalism, investment in technology, and human resources to research and develop the best quality products and services for domestic and international businesses.
Nguyen Tin
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