Standard Chartered Viet Nam has received an award for digital banking service. -- Photo giaoduc.net.vn

HA NOI (Biz Hub) — Standard Chartered Viet Nam has been awarded the "Digital Banking Initiative of the Year in Viet Nam 2016" by the Asian Banking & Finance magazine.

The award acknowledges the bank's efforts to bring digital convenience to its local clients.

The bank said in a press release on Wednesday that almost 97 per cent of all non-cash transactions are conducted digitally and 100 per cent of its new clients register for online banking and short message service banking from day one.

The bank recently launched the digital platform WorldMiles credit card, which enables cardholders to access more than 800 airport lounges worldwide.

Another platform, location-based mobile app "The Good Life", offers cardholders discounts of up to 50 per cent at more than 700 merchants in Việt Nam and some 3,500 outlets in ASEAN nations across the categories of dining, fashion, hospitality, travel and wellness.

"Digital is an emerging frontier in banking with traditional concepts of brick and mortar branches quickly fading away. Customers want easy and everywhere access to their banking," Amit Malhotra, director of retail banking at Standard Chartered Viet Nam, said.

"Viet Nam is demographically a young population with high literacy rate, per capita internet and smart phone penetration, which makes it a very attractive market for innovation," Nirukt Sapru, the bank's chief executive officer, said. — VNS