Shinhan Bank Vietnam, a local subsidiary of Shinhan Bank, announced on May 23 that it was the only foreign bank to receive the "Certificate of Merit" award at the "2023 Digital Transformation" event held in Hanoi, Vietnam on May 18.
Vietnam's "2023 Digital Transformation" event, organized by the State Bank of Vietnam, showcased the extent of the country's financial digitization and recognized key financial institutions that have contributed to this progress.
In its inaugural year, the event bestowed the prestigious "Certificate of Merit" upon Shinhan Bank Vietnam, alongside four major Vietnamese banks, namely Agribank, Vietcombank, and Vietinbank.
Shinhan Bank Vietnam has set its sights on becoming a leading digital bank within Vietnam. Over the past year, the bank has taken significant steps in this direction. In May, the Future Bank Group was established, followed by the introduction of the pioneering "Digital Consumer Loan" in August, marking the first non-face-to-face credit loan in Vietnam's banking industry.
To further enhance convenience for local customers, the bank underwent a reorganization in December, resulting in the establishment of "Shinhan Sol Vietnam (Sol VN)" and providing enhanced mobile banking services.
Furthermore, Shinhan Bank Vietnam is actively spearheading the digital transformation of Vietnam's finance sector through strategic collaborations with prominent digital companies. Among its partnerships are Vietnam's leading electronic payment company, MoMo, one of the top three e-commerce companies, Tiki, and the national messaging platform, Zalo.
The bank has successfully partnered with over 1,000 e-commerce platforms to expand the retail market and has launched a shopping service that offers cashback benefits of up to 35%.
Thanks to its proactive digital financial management strategy, Shinhan Bank Vietnam has acquired 1.11 million mobile and internet banking customers by the end of the first quarter of 2023.
Notably, over 30% of subscriptions to deposit products have been made through non-face-to-face channels, emphasizing the growing adoption of digital banking services.
