• VP Bank built an ecosystem aligned with the Vietnam market
• The bank created an efficient and automatic payment collecting solution for SMEs
• The bank’s loan app has proven to be an efficiency-enhancing product

Hanoi, 9 April 2020 – VP Bank received Best Productivity, Efficiency and Automation and Best Customer Experience at The Asian Banker Vietnam Awards 2020. The awards ceremony was held in conjunction with The Asian Banker Finance Vietnam 2020, the foremost annual meeting for decision makers in the financial services industry in Vietnam, held on 9 April at Meliá Hanoi, Vietnam.

VP Bank built an ecosystem aligned with the Vietnam market

VP Bank was optimised by the Centralised Credit Approval Process. Its customer satisfaction rate in 2019 increased by 15%, compared to 2018. The market size also increased significantly in 2019, which indicates that VP bank is expanding its ecosystem. By growing its interconnected ecosystem, VP Bank was able to outpace its peers in terms of compounded revenue growth.

The bank created an efficient and automatic payment collecting solution for SMEs

With the new solution, customers will pay digitally to each other by setting the payment date in the platform instead of manual processing. This would also improve the payment efficiency. Moreover, payments can be made via their business credit card and make advance loans up to 45 or 55 days. This platform can be integrated to small and medium-sized enterprises’ (SMEs) management software, tool and synchronise with business accounting data. With more customers signing up to apply for the solution, VP Bank saw a remarkable business growth in their innovation.

The bank’s loan app has proven to be an efficiency-enhancing product

The bank developed the car loan app and applied its improved internal working process, thereby enhancing overall customer experience. With the auto approval engine, the results are issued in 30 minutes after all the information have been entered. The documentation preparation process also improved as the sales staff can upload the documents efficiently with an estimated total processing time shortened at around 10-20%.

About The Asian Banker

The Asian Banker is the region’s most authoritative provider of strategic business intelligence to the financial services community. The Singapore-based company has offices in Singapore, Malaysia, Manila, Hong Kong, Beijing, and Dubai, as well as representatives in London, New York, and San Francisco. Its business revolves around three core business lines: publications, research services and forums. The company’s website is www.theasianbanker.com

Visit The Asian Banker Vietnam Awards 2020 official page at Finnace Vietnam 2020

For further information, you may get in touch with:
Mr. Mobasher Zein Kazmi
Head of Research
Email: mkazmi@theasianbanker.com