Day: November 24, 2021

Faced with complicated developments of the COVID-19 outbreak in recent times, banks in Ho Chi Minh City and elsewhere in the country are strictly complying with social distancing regulations while also ensuring their systems operate smoothly and efficiently and fully meet the needs of individual and corporate customers.

The recent social distancing period was also a time when HDBank speeded up transformation of its operations.

So, despite reducing the number of employees working directly at the office and counter in accordance with the regulations on social distancing and epidemic prevention, the bank saw an increase in labour productivity and a reduction in costs while ensuring service quality and managing to serve customers in the best way.

This was thanks to the bank’s modern technology platform.

HDBank has embraced digital transformation in all aspects like transaction processes, operations, human resources, and evaluation since 2020, and now seeks to make the digitisation faster and more comprehensive.

HDBank has managed to speed up comprehensive digitisation through key projects such as digitising the customer journey to bring new and convenient experiences in opening a payment account and savings book online and offering loans online against deposits, digitising the online customer journey with pioneering technologies such as electronic know your customer (eKYC), advanced eKYC and integrated authentication via video call, digitising the internal communication system, big data collection and analysis, and virtual assistant switchboard.

The use of robotic process automation technology with robot assistants has helped the bank reduce manual tasks by more than 80 percent and increase processing speed 30 times (from three minutes to only five seconds for a transaction) with an error rate of almost zero.

According to the bank’s statistics, in the five months since the account opening process at the counter was digitised, the number of customers registering for e-banking rose to 67 percent from the earlier 50 percent.

HDBank’s digital applications and automation of products and services have helped improve the efficiency of transactions and meet customers’ needs amid the social distancing and ‘new normal’.

As a result, in the first six months of the year the number of e-banking transactions doubled from the same period last year with the transaction value tripling to nearly 60 trillion VND (2.6 billion USD).

To support businesses after the restrictions were lifted and gradually revive production and business, HDBank continues to deploy credit promotion services such as cash flow management, issuing UPAS L/Cs to promote import and export and rapid payment through eBanking with a comprehensive digital solution package.

It has also optimised services on digital platforms such as opening a business account online, 24/7 online lending (eCredit), issuing L/C online (eLC), and online international money transfer, all to support corporate customers with solutions and adapt to the new normal and digital society.

HDBank has also digitised the operating process through the use of robots for timekeeping for employees, handling requests from customers and automatic order approval.

In its internal operations too, HDBank has strongly digitised by applying Akabot, a comprehensive RPA platform that helps automate business processes involving a large number of repetitive tasks to increase productivity and improve cost savings; regularly organising online training, seminars and workshops; and enhancing communication on its internal communication channel, Workplace.

The iPaper system is applied to almost all internal processes/regulations, saving the time and cost needed for paperwork and being of particular help during the social distancing period.

Valuation, automatic and centralised accounting and document management are all optimised on the technology platform.

Customer-centric

Thanks to its accelerating digital transformation, HDBank has ensured the efficient operation of its internal systems and business activities and smooth operation of products and services on the digital platform, especially amid the pandemic-driven restrictions.

Tran Thu Huong, director of the bank’s operations division, said: “To ensure smooth operations, the operations division in collaboration with other divisions has made improvements in everything starting from the most minor of them.

“Thanks to that, we have created a new, scientific, systematic, and more comprehensive way of working, saving time in handling services provided to customers. With the goal of how to serve customers most effectively, we always strive to make today better than yesterday and tomorrow better than today.”

HDBank has efficiently implemented the Government’s policy on waiver and reduction of loan interest rates to support customers in a number of areas directly affected by COVID and where there has been prolonged social distancing, with more than 18,000 customers owing a total of nearly 42 trillion VND in outstanding balance benefiting.

The results have helped HDBank succeed in building a large loyal customer base.

Reforming operations and improving services on a digital basis is one of HDBank’s efforts to make a difference in serving customers, making them happy and successful, and helping them achieve financial security.

Source: Vietnam News Agency

Prime Minister Pham Minh Chinh’s attendance in the 13th Asia – Europe Meeting (ASEM) Summit and related events will show the importance Vietnam attaches to ASEM and affirm the country’s stature in this forum.

The PM will take part in the meetings on November 25 – 26 via videoconference, at the invitation of his Cambodian counterpart Samdech Techo Hun Sen.

Themed “Strengthening Multilateralism for Shared Growth”, the 13th ASEM Summit is expected to help maintain cooperation in ASEM and enhance Asia – Europe connectivity.

As a founding member, Vietnam has always shown proactive and active participation in and promoted ASEM cooperation for peace, cooperation, and common development in the region.

The 53-member ASEM is important to Vietnam in terms of strategy, economy, politics, security, development, and society.

Over the last 25 years, Vietnam’s stature in this inter-regional cooperation mechanism has been growing thanks to socio-economic achievements, the fulfillment of duties in multilateral organisations, and meaningful contributions to ASEM.

Through ASEM, Vietnam has won support, stepped up the negotiation on its admission to the World Trade Organisation (WTO), and boosted integration into the global economy.

In particular, at the ASEM Summit in Vietnam in 2004, the European Union was the first partner in the world to sign a bilateral agreement supporting the country to become a member of the WTO, which paved the way for many other deals to help Vietnam officially gain the status in 2007.

Besides, Vietnam launched talks on a free trade agreement with the EU in 2010, at the 8th ASEM Summit in Belgium, and finished the negotiation at the 10th ASEM Summit in Italy.

It is assessed as one of the most active members as seen in its proposal, launch, and promotion of many new cooperation ideas. It has also directly carried out and co-sponsored nearly 60 initiatives in different fields. Via these cooperation initiatives, the country has joined other ASEM members in highlighting the benefits of peace, security, and stability, resolving urgent problems, and promoting issues of common concern.

Vietnam’s bilateral relations with other ASEM members have been developing in an increasingly substantive manner. Among them, the EU expects Vietnam will serve as its key partner and connectivity centre in the region.

PM Chinh’s participation in the 13th ASEM Summit and related events will continue reflecting the country’s foreign policy of proactively and actively integrating into the world. It will also demonstrate the importance Vietnam attaches to ASEM, affirm the country’s role and stature in the forum, and help promote multilateral diplomacy.

The Government leader’s attendance will also reiterate Vietnam’s consistent stance on some major issues that affect regional and global peace and stability; protect and promote the country’s priorities and interests in ASEM; and make use of international cooperation to combat the pandemic and accelerate economic recovery.

Source: Vietnam News Agency

The results of the fourth plenum of the 13th Communist Party of Vietnam (CPV) Central Committee and the sixth plenum of the 19th Communist Party of China (CPC) Central Committee were highlighted at a conference on November 24.

The online conference was co-chaired by Le Hoai Trung, member of the CPV Central Committee and Chairman of the CPV Central Committee’s Commission for External Relations and Song Tao, member of the CPC Central Committee and Head of the CPC Central Committee’s International Liaison Department.

Trung said the Vietnamese Party and State always believe that the Party and people of China will carry forward their glorious traditions and reap greater achievements in the cause of building socialism with Chinese characteristics.

He also briefed the Chinese side on Vietnam’s COVID-19 prevention and control, and orientations in the time ahead. For his part, Song noted his belief that the Vietnamese Party and State will successfully realise the Resolution adopted at the 13th National Party Congress.

The officials spoke highly of positive developments in relations between the two Parties and nations over the past time. They also exchanged views on cooperation activities in the coming time, including the continued building of a shared borderline of peace, friendship and development, and the well control of differences at sea, thereby contributing to the enhancement of the bilateral friendship and cooperation between the two Parties, countries and people of Vietnam and China.

Source: Vietnam News Agency

The Vietnam Grand Sale 2021 will take place across the country from December 1, 2021 to January 1, 2022.

During the month, businesses will actively organise promotion activities with attractive and diverse forms, aiming to introduce goods and services with ensured quality and reasonable prices.

Meanwhile, agencies, organisations and businesses will coordinate to hold fairs displaying products in the localities to effectively link production with sale, promote domestic sale, develop the domestic market and stimulate the tourism industry.

The event is expected to attract the participation of a large number of manufacturers and enterprises in all fields as well as the response of consumers across Vietnam.

Mai Van Son, head of the Trade Promotion Management Division under the Vietnam Trade Promotion Agency, said that the Vietnam Grand Sale was first organised from July 1-31, 2020, with around 27,450 sales programmes.

According to the General Statistics Office, the total retail sales and services revenue in July 2020 reached 431.9 trillion VND (19 billion USD), up 3.3 percent month-on-month, and 4.3 percent year-on-year.

This year’s Vietnam Grand Sale will focus on boosting the development of e-commerce to create a stable and effective sale channel amidst the COVID-19 pandemic.

Source: Vietnam News Agency