The imprints
One of the first steps in Vietcombank's digital transformation process was the successful operation of the new core banking system (Core Banking Signature). Core banking has helped Vietcombank easily develop new products and services, meet diverse customer needs, effectively manage internally, and better manage risks related to the market, credit, liquidity, or operational risks.
Innovations and creativity in digital transformation have helped Vietcombank create many modern products for customers.
In July 2021, Vietcombank successfully developed the VCB CashUp System - the first modern and comprehensive payment and cash flow management system in Vietnam for high-end corporate customers with comprehensive and superior solution packages. With Omni-channel banking, VCB CashUp is set up with a smart interface on technology devices, providing a consistent experience for customers, while meeting the needs of multi-layered, multilateral management, serving the entire ecosystem of the business.
In August 2023, Vietcombank officially introduced to Visa cardholders Apple Pay, a safer, more secure and private payment method that helps customers avoid giving their payment cards to others, touching physical payment buttons or exchanging cash, and using iPhone to protect every transaction. To use, customers just need to double-tap and hold their iPhone or Apple Watch near the payment gateway to make contactless payments. Every transaction using Apple Pay is secure because it is authenticated by Face ID, Touch ID or the device's password, along with a dynamic one-time security code.
At the 2024 Banking Digital Transformation Event, Vietcombank introduced a solution to identify and authenticate personal customer information and customer facial biometric images through direct application-to-app connection between the banking application and the VNeID application. Vietcombank is the first bank to apply this solution on the market, bringing a seamless and completely online experience to people, ensuring that the information matched with the national population database is the most updated.
Connect, share data
Mr. Vo Van Duc - Director of Vietcombank Quang Nam said that the bank focuses on connecting, exploiting and sharing data with the national database on population. Vietcombank Quang Nam coordinates with the Provincial Public Administration Center and the Department of Science and Technology to carry out online payment procedures for public service fees such as fees, charges, public service declaration, payment of registration fees and online submission of car registration declarations. The bank has coordinated with the Provincial State Treasury to open an electronic bilateral payment account and coordinate the collection of state budget. Vietcombank cooperates bilaterally with the Ministry of Public Security through the national public service portal to collect fees and charges for people nationwide in general and Quang Nam province in particular.
Regarding social security payment activities, Vietcombank Quang Nam has coordinated with the provincial Social Insurance to pay pensions, social insurance benefits, and social security programs directly to payment accounts opened at Vietcombank. This form has been widely deployed in Quang Nam areas.
Vietcombank Quang Nam is coordinating with the provincial Tax Department to collect domestic taxes, real estate taxes, vehicle registration taxes, etc. The connection and exchange of data with tax collection agencies is ensured through an automatic connection system. Payment methods are diverse in cash or by bank transfer. The coordination in collection creates conditions for organizations and individuals to fulfill their tax obligations quickly, conveniently, accurately and effectively.
Mr. Vo Van Duc said that Vietcombank Quang Nam continues to promote Vietcombank's achievements such as "Outstanding e-bank", "Excellent digital transformation enterprise", "Best digital transformation bank in Vietnam" to create a solid foundation for development, diversify services, and serve customers attentively.
Implementing Decision No. 2345 of the State Bank on deploying safety and security solutions in online payment and bank card payment, effective from July 1, 2024. Vietcombank has deployed identification and authentication solutions through direct connection (app-to-app) between the banking app and the VNeID app. Vietcombank is the pioneer bank in applying this solution in the market, bringing a seamless and completely online experience to people. Vietcombank also applies biometric authentication application using facial data (Facepay) to help strengthen fraud prevention and fraud in electronic transactions.
Source: https://baoquangnam.vn/chuyen-doi-so-nhin-tu-vietcombank-quang-nam-3145394.html
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