BIDV partners with Surecomp to streamline trade finance

Monday, Aug 29, 2022 21:26

BIDV has gone live with its DOKA™ and allNETT™ solutions to digitise trade finance processing fully. — Photo courtesy of the firm

BIDV has gone live with its DOKA™ and allNETT™ solutions to digitise trade finance processing.

Supported by local partner CMC Technology and Solution (CMC TS) in Viet Nam, Surecomp was selected by BIDV to deliver its next-generation trade finance platform as part of a broader digital transformation strategy.

Trade finance and bank guarantees are one of the bank’s most important service offerings, and the implementation will now enable BIDV to meet current and future demands.

Hosted on their own servers in Ha Noi, the solutions were deployed and supported by Surecomp’s local teams in Asia and Europe. Through improved efficiency and faster response times, the newly digitised operation will help BIDV maintain a competitive edge and deliver enhanced customer service.

This, in turn, will allow customers to manage their import and export activities better. Taking a pioneering approach to digital innovation, the flexibility of the solutions will also enable the bank to amend and customise their trade finance instruments as their requirements evolve.

“Thanks to a comprehensive collaboration between BIDV, Surecomp and CMC TS, we are delighted to be in live production with our new digital trade finance operation. Given its high priority, we believe in the value and competitive edge this digitalisation path brings BIDV,” said Le Trung Thanh, BIDV’s Senior Executive Vice President.

“We congratulate BIDV on successfully deploying this new trade finance platform. CMC Technology and Solution is proud to be BIDV’s technology partner in this project, with Surecomp delivering a best-in-class solution. We will strive to provide BIDV with industry-leading services and solutions to support them remaining at the industry forefront,” said Ho Thanh Tung, CEO of CMC Corporation and CMC TS.

Yaron Hupert, Surecomp’s SVP of Account Management, said: “BIDV is Surecomp’s leading customer in Viet Nam, joining a stronghold of other home-grown Asian banks. We believe that our trade finance solutions will bring BIDV all the business benefits associated with a digital trade platform and enable the bank to serve its corporate customers better,” said Yaron Hupert, Surecomp’s SVP of Account Management."

“We are looking forward to a long and fruitful relationship with BIDV and are wholeheartedly committed to ensuring their success.” — VNS

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