Shinhan Bank Vietnam takes centre stage with prestigious digital transformation award

Setting its sights on becoming a leading digital bank in Vietnam by 2030, Shinhan Bank Vietnam has been diligently driving the process of digital transformation in the banking sector over the past few years.

The bank's efforts have borne fruit, as evidenced by the successful establishment of the groundbreaking Future Bank Group in May 2022, which has paved the way for the increased utilisation of digital devices in the retail banking sector.

Furthermore, the bank introduced the latest version of the Shinhan SOL Vietnam digital banking application in December 2022, sporting a more intuitive user interface and an array of exceptional and convenient features.

Keen on encouraging customers to transact through the Shinhan SOL Vietnam application, the bank has launched a range of utilities to entice users, including the cashback shopping feature, which offers attractive incentives from numerous reputable brands.

Additionally, Shinhan Bank Vietnam has strengthened its collaboration with esteemed Fintech partners in the Vietnamese market, such as MoMo, Tiki, and Baemin, forging the path towards a superior digital banking ecosystem that caters to the evolving needs of customers.

The bank's digital transformation endeavours have yielded impressive numbers. As of the end of Q1 2023, nearly 1.1 million individuals have logged into its mobile banking and internet banking platforms, a testament to the bank's growing digital presence.

In its pursuit of digitalisation excellence, Shinhan Bank continues to collaborate closely with its parent organisation, Shinhan Bank Korea, to leverage its exceptional digitalisation capabilities. The ultimate goal is to gradually establish a seamless 100 per cent online procedure for all product lines and deliver unparalleled convenience to its customers.

Adding to its list of accolades, last month, Shinhan Bank proudly maintained its long-term rating of BB+ from renowned international credit rating agency S&P Global Ratings with a stable outlook. This recognition underscores S&P's admiration for Shinhan Bank's efforts in cultivating sustainable business activities within the Vietnamese market.

The bank's standing as one of the largest foreign banks in Vietnam in terms of total assets at the end of 2022 further solidifies its significance. S&P expresses confidence that Shinhan Bank Vietnam will sustain its high strategic performance for at least the next 18-24 months.

These accolades and commendations serve as well-deserved acknowledgement for Shinhan Bank's unwavering commitment to various aspects of its operations. The bank's dedication to optimising value for customers and enhancing the financial experience within the realm of a robust digital transformation is clearly evident and deserving of the attention it receives.

Shinhan Vietnam Joint Stock Commercial Bank (Shinhan Bank) inked a strategic collaboration with Nguyen Hoang Group (NHG), an educational company in Vietnam, on May 11 to offer an interest-free tuition fee financing programme.