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| Awardees at the 2023 Digital Transformation event including Deputy Director of Shinhan Bank Vietnam Jung Kyung-won, left, pose with State Bank of Vietnam (SBV) Governor Nguyen Thi Hong, sixth from the left, during the award ceremony held in Vietnam, Thursday. Courtesy of Shinhan Bank |
By Lee Yeon-woo
Shinhan Bank Vietnam, a subsidiary of Shinhan Bank, was awarded by the State Bank of Vietnam (SBV) for its digitalization efforts. It was the only foreign-affiliated firm to receive an award at the event, the bank announced on Tuesday.
Last Thursday, the SBV hosted the 2023 Digital Transformation event to showcase the level of digitalization in Vietnamese finance to external observers and to recognize financial firms that have contributed to digitalization. Shinhan Bank Vietnam was awarded the Certificate of Merit along with three other Vietnamese banks: Agribank, Vietcombank and Vietinbank.
SBV Governor Nguyen Thi Hong attended the event and encouraged the officials from the awarded banks. Ranking officials of the Vietnamese government also participated.
Shinhan Bank Vietnam is making efforts to play a leading role in the digitalization of Vietnamese finance. The bank says it aspires to be a leading digital bank in Vietnam.
The bank established the Future Bank Group ― an independent body tasked with driving digitalization ― in May last year and launched the Digital Consumer Loan service, which enables customers to secure loans without visiting a physical bank branch. This service was the first of its kind in Vietnam.
It is also collaborating with various platforms including the payment service MoMo, the e-commerce company Tiki and the messenger platform Zalo.
With this digitalization strategy, it has secured approximately 1.11 million customers in mobile and internet-only services and has seen more than 30 percent of its deposits coming through non-face-to-face channels.
"It is an honor that we, the only foreign-affiliated bank, received the award with other major Vietnamese banks," said Jung Kyung-won, deputy director of Shinhan Bank Vietnam. "We will keep enhancing our digitalization strategy and play a leading role in the digitalization of the Vietnamese financial industry."
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