Vietnam International Bank (VIB) won two international digital banking awards at a ceremony in Hong Kong on Thursday.
VIB was named “Digital bank of the year 2017”, while its mobile banking app, MyVIB, won the “Best retail mobile banking experience 2017” award.
Organised by The Asset magazine, the awards recognised VIB’s efforts and performance in pioneering the development of digital banking in Viet Nam, the bank said in its statement.
VIB is the first local bank that has enabled customers to open bank accounts online. It is also among the pioneers to boost investment in digital marketing, which is considered key to connect with customers in the digital era.
VIB is well-known as one of the financial institutions that recognise the importance of fintechs in expanding capacity to provide customers with innovative and effective services. The mobile banking app, MyVIB, is an example of VIB’s co-operation with fintechs, providing unique and outstanding features, such as transferring money in real-time via social networks or buying air tickets easily and quickly.
Tran Nhat Minh, Deputy Chief Executive Officer cum Head of VIB’s Business Technology Service, said the bank attracted a large number of customers last year, thanks to the launch of a new service which enabled them to open bank accounts online.
These customers accounted for 20 per cent of the bank’s new customers in 2017, Minh said.
During the year, the number of customers who registered for VIB’s digital services also increased by 50 per cent year-on-year, while the number of customers who downloaded MyVIB was up by 104 per cent. The number of customers who regularly used the app increased by 87 per cent year-on-year.
“With the right and serious investment in digital banking in particular and banking services and products in general, we believe VIB will maintain its position as one of the most innovative and customer-centric banks in Viet Nam,” Minh said.
The two awards won by VIB are important in “The Asset Triple A Digital Awards 2017” of The Asset. The awards were assessed by a panel of experts in the region and were aimed at honouring financial institutions and technology firms with excellence in development and application of digital technologies in the Asia Pacific region, including Japan and Australia.
The Asset’s awards are prestigious qualifications with a strict and transparent assessment process and are granted to banks and relevant institutions with outstanding achievements and contributions to the finance and banking sector throughout the year.
VIB is the first local bank to be awarded by The Asset in two consecutive years. — VNS