Banks seek partnerships at international finance conference

Tuesday, Oct 13, 2015 17:19

A corner of Viet Nam's banks at the SIBOS in Singapore. — VNS Photo My Binh

HA NOI (Biz Hub) — Six Vietnamese commercial banks are attending the SWIFT International Banking Operations Seminar (SIBOS) 2015, which will end in Singapore on October 14.

Representatives from Vietcombank, BIDV, Vietinbank and Eximbank, as well as SHB and Pvcombank, are among the 7,000 business leaders, decision makers and experts from a wide range of financial institutions, multinational corporations and technology firms taking part in the four-day event this year.

SIBOS, a conference, exhibition and networking forum for the finance industry, is organised annually by the Society for Worldwide Interbank Financial Telecommunication (SWIFT), a global provider of secure financial messaging services in the areas of payments, securities, cash management and trade.

Nguyen Thi Huong from the State Bank of Viet Nam said it was a great opportunity for Vietnamese banks to access new banking products and services as well as promising new partners.

Nguyen Trong Khoa, director of Vietcombank's payment centre, said the bank was looking for new partnerships, and he hoped to learn firsthand about the latest payment solutions and trends in the United States and Europe at SIBOS 2015.

According to VIETSWIFT, Viet Nam ranked 58th out of 210 SWIFT users worldwide and saw its traffic grow 14 per cent last year to approximately 10 million sent and received messages. Of the figure, payment messages accounted for 74 per cent, followed by overseas transfer messages that comprised 9.64 per cent.

SIBOS 2015 focuses on the financial market infrastructure, cloud computing, network security and the application of ISO 20022, a new standard for electronic data exchange between financial institutions.

Attendees will also discuss business strategies and networking, while collectively shaping the future of the global financial industry.

The exhibition within the SIBOS framework has brought together some 200 financial institutions, application and middleware vendors, system integrators, consultants and central clearing systems from around the world. -VNS

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