Sacombank wins two awards from the International Business Magazine for “Best Digital Transformation Bank Vietnam 2023” and "Most Innovative Retail Bank Vietnam 2023.” — Photo courtesy of the bank
Sacombank has won two awards from the International Business Magazine for “Best Digital Transformation Bank Vietnam 2023” and "Most Innovative Retail Bank Vietnam 2023.”
This is for the third year in a row that Sacombank is winning these prestigious awards.
The International Business Magazine is a UAE-based publication focused on business and finance. Its annual awards honour institutions and enterprises with outstanding achievements in business across the world.
Identifying technology as the mainstay of its development strategy, Sacombank has intensively invested in infrastructure and adopted advanced technologies to create a foundation for its digital transformation and enhance creativity and innovation in its products and services.
Sacombank established the digital transformation centre (DTC) in 2021 to accelerate its digitisation based on four core factors: technology infrastructure, comprehensive digital solutions, digital products and services, people and digital thinking.
It has implemented a series of major projects such as the omnichannel digital banking platform, high-tech products and services such as Sacombank Mastercard Only One (an international single chip integrated card), smart teller machines, a data quality governance framework, Microservices architecture system, and an APIs ecosystem.
Sacombank’s customer base exceeds 15 million, of whom 50 per cent are digital customers.
It recorded a five-fold increase in transaction via digital channels between 2018 and 2022.
In 2022 transactions via digital channels such as internet banking, mobile banking and the Sacombank Pay app accounted for 97 per cent of the total number.
Sacombank's 2023 goal is to improve eKYC technology to connect with the national population database, compare customers' biometric characteristics with the citizen biometric data to bring a seamless customer experience.
It plans to speed up installation of the omnichannel banking platform and automatic credit approval process for all customers, and complete and put into operation the smart teller machines (STM). — VNS