Best Virtual Account Management Initiative goes to Techcombank
This solution increased collection and cost efficiencies across customers in FMCG, securities, education, e-commerce, fintech, travel and leisure, financial services, and logistics sectors.
It allowed users to top up their store-value wallet or make a payment to their payee’s master account through a virtual account. Payees can also quickly reconcile and top up their store wallet or clear their receivables. It supports real-time accounting as well as reconciliation for all channels, regardless of the payee’s bank or channels used to process the payment.
For minimising reconciliation efforts and bringing down the cost of collection through the implementation of virtual accounts, the award for Best Virtual Account Management Initiative goes to Techcombank for Initiative collection solution via virtual account.