BIDV receives 2 prestigious international awards for business products and services

Mr. Nguyen Chien Thang (Director of BIDV Digital Banking Development Center) and Ms. Bui Minh Trang (Deputy Director of BIDV Wholesale Product Policy Department) received the award. (Photo: Vietnam+)

The Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) has just been awarded the “Best API & Open Banking Bank in Vietnam” and “Best Trade Finance Bank in Vietnam” in 2024 by The Asian Banker magazine. The award is a testament to BIDV's efforts to bring convenient and effective products and services to businesses.

Open Banking - Shaping the Future of Financial Services

The “Best API & Open Banking in Vietnam” award is part of the Financial Technology Innovation Awards by The Asian Banker. The award is evaluated based on criteria such as scale, scope, resources for open banking development, innovation, and value delivered compared to other products on the market.

Officially launched at the end of 2023, after less than 7 months, BIDV Open API has created a big buzz in the market, BIDV has received over 240,000 API calls via sandbox, nearly 600 trial accounts and more than 100 partners registered for integration.

BIDV's integrated banking services have been widely spread on sales management, school management, hotel management, seaport management, cash flow management (CMS), enterprise resource planning (ERP) platforms and many software/applications in all areas of the economy .

Currently, BIDV is the bank with the largest number of 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 custom API packages, helping customers and partners experience, understand how to use banking services and decide the level of compatibility between banks.

According to a representative of The Asian Banker Magazine, BIDV has stepped up its investment in technology to develop open banking, forming a new banking trend, shaping the financial services of the future. BIDV's efforts demonstrate its determination to lead the open banking trend in Vietnam.

“Bringing customers a new and superior banking service experience on their own software and applications, cooperating with fintech partners to design financial solutions that increase operational efficiency for customers, promoting digital transformation for the Vietnamese market, that is the reason we chose BIDV as the Best API Application Bank & Open Banking in Vietnam,” emphasized a representative of The Asian Banker Magazine.

Bringing trade finance products to the international level

The “Best Trade Finance Bank in Vietnam” award is part of The Asian Banker’s Transation Finance Awards, which honors financial institutions with outstanding achievements in trade finance, supply chain finance and international payments. The award is evaluated by an independent international panel of experts with in-depth background and experience in the field of trade finance.

In recent years, BIDV has provided many high-quality trade finance products to businesses with quick and convenient credit procedures, combined with attractive foreign exchange and derivatives trading products, meeting the increasing needs of businesses.

Ms. Dang Hoai Ly (Deputy Director of BIDV Trade Finance Operations Center) and Ms. Pham Minh Chau (Deputy Director of BIDV Wholesale Product Policy Department) received the award. (Photo: Vietnam+)

Banks continuously update new products and services such as factoring, prepayment of LC or flexible collateral mechanism in issuing letters of credit, automatic credit limit mechanism in trade finance transactions... creating conditions for businesses to access capital in a timely manner.

In particular, BIDV has pioneered in bringing trade finance and international payment services to BIDV iBank digital bank, providing a diverse digital ecosystem for import-export businesses.

BIDV has provided supply chain financing solutions to more than 50 large leading enterprises and FDI enterprises nationwide, attracting more than 1,700 suppliers and distributors in potential fields (of which, the number of micro-enterprises successfully accessing working capital is nearly 700 enterprises).

In addition to suitable and highly practical product solutions, BIDV provides BIDV SCF application - to digitize supply chain financing activities for customers. Enterprises can easily conduct transactions on digital channels anytime, anywhere, and transaction processing time is also shortened thanks to timely information synchronization between related parties./.

Receiving awards from prestigious financial magazines such as The Asian Banker is an affirmation of BIDV's service quality, reflecting its dedication, professionalism, investment in technology and human resources to research and develop the best quality products and services for domestic and international businesses.

  Source: https://www.vietnamplus.vn/bidv-nhan-2-giai-thuong-quoc-te-uy-tin-danh-cho-san-pham-dich-vu-doanh-nghiep-post965884.vnp