Standard Chartered Bank Vietnam has made significant strides in enhancing its digital acquisition capabilities, advancing financial inclusivity, and promoting economic growth.
The banking industry is fiercely competitive, with numerous financial institutions vying to provide top-quality products and services to customers. Standard Chartered Bank Vietnam has distinguished itself by winning the Best Retail Bank – Vietnam award at the 14th Annual Retail Banker International Asia Trailblazer Awards.
The bank caters to a broad spectrum of clientele comprising affluent, emerging affluent and mass segments, providing them with an extensive array of retail products including credit and debit cards, secured and unsecured loans, auto loans, liabilities, wealth management and bancassurance. Its client-centric, digital-first operating model prioritises client engagement and banking convenience, utilising technology and strategic partnerships to achieve this goal.
Digital capabilities
Standard Chartered Bank Vietnam has undergone a remarkable digital transformation. With almost all financial transactions being initiated digitally, the lender boasts an impressive digital activity rate of 78 per cent and a mobile penetration rate of 98 per cent.
The bank has also made significant strides in digital acquisition capabilities and continues to invest in creating a seamless digital banking experience.
Moreover, Standard Chartered Bank Vietnam’s strategic collaborations and partnerships have significantly scaled its operations and enhanced its value proposition. These include a co-brand partnership with Vietnam Airlines, an entrustment lending partnership with a leading non-banking financial corporation (NBFC), a fintech/payments joint venture with local payment services provider Payoo and a digital invoice financing partnership with a leading enterprise software solutions company.
The bank’s entrustment lending partnership is fueling its aspirations to promote financial inclusivity and economic growth by empowering consumer access to financing.
Supporting foreign investment
Standard Chartered Bank Vietnam supports foreign investors who are looking to invest in the Vietnamese market, fostering robust relationships with property developers and investment agencies to build an ecosystem that enables convenience for its clients.
The bank’s expertise in advising on and facilitating overseas transactions, coupled with its foreign exchange execution capabilities, has established it as a leading player in the retail foreign investment market, with a market share of about 25 per cent.
It then comes as no surprise that Standard Chartered Bank Vietnam has been awarded the Best Retail Bank Vietnam accolade for digital innovation, promoting financial inclusivity and fostering economic growth. The bank has also been highly commended in the Best Strategic Partnership category for forging partnerships that have led to business growth and added value.
These recognitions reflect Standard Chartered Bank Vietnam’s dedication to delivering the best banking solutions and services to its clients, as well as its commitment to excellence in the industry.