Sacombank wins the “SME Payment Solutions of the Year – Vietnam” award from The Asian Banking and Finance Magazine for 2024. — Photo courtesy of Sacombank

 

For the sixth year in a row, Sacombank has won the prestigious Asian Banking and Finance Retail Banking Awards, presented by The Asian Banking and Finance Magazine.

 

It won the “SME Payment Solutions of the Year – Vietnam” award for meeting the criteria of uniqueness - innovation, efficiency - impact and dynamism of financial solutions for SMEs.

 

Sacombank has identified comprehensive digital transformation as one of its strategic goals in recent years.

 

In addition to improving its management and operation capacity, digital transformation is considered the “key” for Sacombank to develop a digital banking ecosystem that delivers optimal experiences to customers, especially small- and medium-sized enterprises (SMEs), a segment that accounts for a large proportion of Sacombank's corporate customer base as well as the number of businesses in Việt Nam.

 

Nearly 150,000 businesses have trusted and used Sacombank's Internet Banking services thanks to transaction safety and overall security and having features that meet enterprises’ financial needs such as opening accounts, domestic payments, international money transfers, issuing L/Cs, especially with a variety of authentication methods, and approval models from single to multi-tier suitable for micro-SMEs to SMEs.

 

Invoices and transaction documents on Sacombank's digital channel are all electronically signed by the bank with a public digital signature, as it also provides electronic invoices in [.xml] format to help businesses easily exchange information with tax authorities.

 

Sacombank has utilised modern technologies such as OCR (Optical Character Recognition), RPA (Robotic process automation) and digital signature authentication, and its eKYC platform enables customers to open accounts online and get associated services quickly without having to go to the bank’s counter and manually filling forms.

 

Sacombank has so far issued nearly 42,000 corporate cards, which have effectively supported businesses in managing their finances by separating personal and corporate spending, meeting their short-term capital needs and offering attractive incentives from affiliated partners.

 

Its smart payment solutions such as online payment gateway, payment via POS machine, Tap to Phone service, and Sacombank QR Pay have enabled enterprises' business activities to become faster and more efficient.

 

Sacombank has also upgraded the international payment transaction lookup service via SWIFT GPI on the Sacombank website and the beneficiary information authentication service for international payments (Swift Pre-validation) to help avoid errors while transferring money abroad, mitigating risks that may arise from payment delays.

 

In particular, the SWIFT GO overseas money transfer service has been deployed for individual and corporate customers with quick procedures and low costs.

 

Within four hours, overseas beneficiaries can receive the money at affiliated banks. — VNS

 

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