Shinhan Bank Vietnam, Honored in ‘2023 Digital Transformation’ Program in Vietnam – Financial Review

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By Manilal

Source = Shinhan Bank

Source = Shinhan Bank

(Financial Review = Reporter Changwon Lee) Shinhan Bank Vietnam, a local subsidiary of Shinhan Bank (CEO Jang Sang-hyeok), was the only foreign bank to receive the ‘Certificate of Merit’ award at the ‘2023 Digital Transformation’ event held in Vietnam. Hanoi, Vietnam said on the 18th

Vietnam ‘2023 Digital Transformation’ is an event organized by the Central Bank of Vietnam to externally showcase the level of digitization of Vietnam’s finance and to select and reward financial companies that contribute to it.

At the event, held for the first time this year, Shinhan Bank Vietnam won the same ‘Certificate of Merit’ award, along with three banks (Agribank, Vietcombank, and Vietinbank) out of four major banks in Vietnam (note 1). ,

The event was attended by Nguyen Thi Hong, Governor of the State Bank of Vietnam and Chairman of the Digital Innovation Steering Committee for the Banking Sector.

Shinhan Bank Vietnam aims to be the ‘Vietnam Leading Digital Bank’. In May last year, ‘Future Bank Group’ was newly established, and in August of the same year, it launched ‘Digital Consumer Loan’, a face-to-face credit loan, for the first time in the Vietnamese banking industry. ,

In December, ‘Shinhan Sol Vietnam (Sol VN)’ was completely restructured to be user-centric so that local customers can use mobile banking more easily and conveniently.

In addition, we are leading the digital transformation of Vietnamese finance by collaborating with representative digital companies such as Momo, Vietnam’s No.1 electronic payment company, Tiki, one of the top 3 e-commerce companies, and Zalo, a national messenger . Has also launched a shopping service that offers up to 35% cashback in partnership with commerce platforms.

Through this proactive digital financial management strategy, by the end of Q1 2023, 1.11 million mobile and internet banking customers were secured, and the proportion of deposit product subscriptions through non-face-to-face channels increased to 30% was over.

“It is an honor to be the only foreign bank to receive the awards received by major banks in Vietnam. We will strengthen and lead the digitization of Vietnamese financials,” said Jeong Kyung-Won, Vice President of Shinhan Bank Vietnam. Industry.”

Shinhan Bank Vietnam operates 46 business channels, the largest number among foreign banks throughout Vietnam, and maintained its positive outlook by receiving long-term credit ratings of ‘BB+’ and ‘stable’ from S&P in April this year. This is the highest level among banks in Vietnam and is on the same level as Vietnam’s national credit rating (BB+).

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