Agribank Demonstrates 6 Outstanding Services at the 2024 Banking Digital Transformation Event

Banks and credit institutions brought numerous modern technology solutions to support the digital transformation, aiming towards sustainable banking development.

Prime Minister Pham Minh Chinh visited Agribank’s booth at the event. (Source: Agribank)

Prime Minister Pham Minh Chinh and leaders from various ministries and sectors attended the event. From the banking sector, State Bank of Vietnam (SBV) Governor Nguyen Thi Hong, Deputy Governor Pham Tien Dung, and leaders of credit institutions, foreign bank branches, financial companies, payment intermediaries, microfinance organizations, and industry associations were present.

In his speech, Prime Minister Pham Minh Chinh acknowledged the positive and notable achievements in the banking sector’s digital transformation. Non-cash services have been widely deployed nationwide, with perceived digitalized products practically serving citizens and businesses.

The Prime Minister emphasized that the banking sector needs to seize opportunities and challenges from the Fourth Industrial Revolution, applying them appropriately and effectively to Vietnam’s conditions. He stressed linking banking digital transformation with the digital economy, digital society, digital citizenship, green economy, sharing economy, and circular economy to enhance production capacity, labour productivity, and competitiveness.

Agribank was honoured to introduce its digital services to government leaders, SBV leaders, and representatives from various ministries during a VIP booth tour during the morning session. Agribank presented six products corresponding to 6 digital banking solutions:

1. Cash withdrawal using chip-embedded Citizen ID card
2. ATM cash withdrawal using a QR Code without a card
3. Agribank Corporate Ebanking – a multi-channel digital banking service for corporate customers
4. Advanced Agribank Payment Hub
5. OPEN API Service
6. A system for collecting, managing, authenticating, and cleaning customer data at transaction counters to minimize risks and ensure transaction accuracy

Agribank introduces its digital banking product ecosystem at the event. (Source: Agribank)

Building on previous achievements, Agribank continues to develop and promote the application of the National Population Database in banking operations. Agribank’s digital banking service ecosystem provides customers with comprehensive utilities such as account opening, registering for digital/electronic banking services, loan information registration, and online appointment scheduling – all quickly and efficiently.

By authenticating customers based on data and information from chip-embedded Citizen ID cards in collaboration with the Ministry of Public Security, Agribank customers can confidently register and use digital services conveniently, safely, and effectively without worrying about risks of impersonation or account misuse in digital spaces.

A notable highlight of this event was Agribank’s introduction of a new technology ATM enabling cash withdrawals using chip-embedded Citizen ID cards. Agribank is one of the first banks to deploy an ATM system capable of cash withdrawals using Citizen ID cards, allowing account holders to withdraw cash without a card or phone.

The device uses contact technology where placing the Citizen ID card on the machine for a few seconds immediately prepares account and card information for the transaction. The contactless method avoids the traditional ATM card insertion risk, offering more convenience and flexibility.

Agribank commits to digital transformation, green development, and broad connectivity through action, contributing to the Banking Sector Digital Transformation Plan until 2025, with a vision extending to 2030. Placing customers at the centre and providing convenient utilities is the measure of effective digital transformation.