Illustration. (Photo: Vietnam+) With the goal of improving efficiency, bringing more conveniences and incentives to customers when using products and services, Joint Stock Commercial Bank for Industry and Trade of Vietnam (VietinBank) deploys free notification of transaction fluctuations translation for owner credit (international and domestic). Accordingly, from June 1, VietinBank will free and change the transaction notification channel from SMS to OTT message channel on VietinBank iPay Mobile application for all credit card and current customers. using VietinBank’s digital banking services. OTT messages on VietinBank iPay Mobile application help customers receive transaction notifications 24/24 even while working or traveling abroad, just need to have an Internet connection with the device that has installed the application. In addition, OTT news with no character limit with clear and complete message content will help customers manage their accounts in the best way. VietinBank hopes that the form of notification of transaction fluctuations via OTT messages directly on VietinBank iPay Mobile will help customers have a safe and secure experience for customers when using VietinBank’s products and services. For customers who have not installed VietinBank iPay Mobile application, VietinBank will continue to send SMS messages and provide free services to customers./.

Accordingly, from June 1, 2021, VietinBank will free and change the transaction notification channel from SMS to OTT message channel on VietinBank iPay Mobile application for all credit card customers. and are using VietinBank’s digital banking service. OTT messages on VietinBank iPay Mobile application help customers receive transaction notifications 24/24 even while working or traveling abroad, just need to have an Internet connection with the device that has installed the application. In addition, OTT news with no character limit with clear and complete message content will help customers manage their accounts in the best way. VietinBank hopes that the form of notification of transaction fluctuations via OTT messages directly on VietinBank iPay Mobile will help customers have a great experience and ensure safety and security for customers when using products. , services of VietinBank. For customers who have not installed VietinBank iPay Mobile application, VietinBank will continue to send SMS messages and provide free services to customers. For more information, please contact the nearest VietinBank branch/transaction office, Customer Support Center: 1900 558 868 or Email: contact@vietinbank.vn.

The year 2021 saw the fourth consecutive year that iPay products continued to win Sao Khue award, especially, VietinBank iPay Mobile was honored to be in the Top 10 Sao Khue for the second time in a row. Overcoming 182 excellent nominations to win Sao Khue Award (of which 149 awards for software products / solutions and 33 awards for information technology services), VietinBank iPay Mobile entered the Top 10 has proven the position of excellent, prestigious, multi-utility financial-banking technology products along with the national digital transformation process, especially promoting non-cash payments. Mr. Dam Hong Tien, Head of Retail Division of VietinBank represented to receive Sao Khue Award in 2021 for the digital banking application VietinBank iPay Mobile. VietinBank iPay is developed on a new technology platform based on open application programming interfaces (Open APIs) under the name of VietinBank iConnect. With this modern platform, VietinBank can easily provide external APIs to help Fintech companies and Mobile Apps on the market easily connect and provide financial and banking services of VietinBank on the main application, contributing to cross-selling products and services and building a comprehensive ecosystem, in which customers are the focus and enjoy all the features and utilities of that ecosystem. VietinBank iPay Mobile excellent digital banking application for the second time in a row into Top 10 Sao Khue 2021. Pioneering technology ahead of the trend In 2020, the Covid-19 epidemic has created a significant impact, changing the operating platform of the banking system, in which non-cash payments increased sharply. Many economic – financial experts also affirmed that developing digital banking is an indispensable need to help banks overcome challenges, create competitive advantages, proactively adapt and develop sustainably in the context of Ways industrial network 4.0. According to the statistics of the first 6 months of 2020, there are 200 million internet payment transactions with a value of about 12.9 million VND, an increase of 36% over the same period. The number of transactions via mobile phones is up to 472 million transactions (equal to 178% in 2019) with a transaction value of about 4.9 million billion dong (equaling 177% in 2019). In particular, under the impact of the Covid-19 translation, customers’ psychology, consumption and investment behavior change, banks must prioritize services and routes that can help customers complete remotely. the highest amount of service. VietinBank also recorded a sharp increase in service usage through Mobile Banking application. Mr. Dam Hong Tien, Head of Retail Division of VietinBank said: “In 2020, the number of cumulative VietinBank iPay customers increases by 50% compared to 2019, the number of transactions via iPay increases 120% compared to 2019. Translation iPay Mobile service is considered a safe payment method and brings many benefits to customers ”. Accordingly, in order to help customers perform transactions with banks without going to the branch’s transaction counters, VietinBank has developed a variety of customer service features: money transfer, information checking account … VietinBank customers can also perform many other features right on the application to serve the needs of daily life. With more than 130 features provided to customers, VietinBank is increasingly demonstrating its ability to understand customer needs with the diversification of the ecosystem, especially focusing on “contactless” features such as: Deposit money, withdraw money by QR code, sell insurance, pay bills; Online overdraft loan … In addition, VietinBank also invests in developing a widespread QRPay network, focusing on exploiting online QRPay with a total of more than 13,000 accepting points and payment website. Representatives of VietinBank Retail Division took a souvenir photo with Mr. Truong Gia Binh, Chairman of VINASA Founding Council, Head of the Organizing Committee of Sao Khue Award 2021. Most recently, VietinBank was the first of the four Big 4 banks to implement the eKYC feature. Accordingly, without going to the counter, without contacting a transaction agent but only with a smartphone, face authentication, and filling in some personal information, customers can completely own an account “0 fees ”thanks to Electronic Identification Solution (eKYC) available on the VietinBank iPay Mobile app. In addition, customers can choose for themselves a beautiful digital account at will, open a Vpay card right on the app with many incentives. Along with the deployment of eKYC, VietinBank also implements the FacePay transaction authentication method to help customers feel more secure when performing financial transactions via digital banks. With 155 branches and thousands of transaction offices in provinces and cities, and 24/7 Customer Service Center (1900558868), VietinBank can assist customers anytime, anywhere. In 2020, VietinBank will also deploy Chatbot on Facebook to support, advise and answer customers’ questions with hundreds of thousands of inquiries and answers every month. Diversifying utilities, pioneering technology and striving to meet customers ‘needs and experiences in the direction of increasing personalization and diversifying customers’ choices, VietinBank iPay Mobile is on the rise with the criteria of friendly, fast, creative, helping to get closer to customers’ daily life, contributing to building a convenient and modern digital life.

Many banks are aiming to build digital banking Many opinions suggest that the institution for the digital transformation of the banking sector basically meets the development of society and the trend of not using cash. “However, the current institutional reforms sometimes still follow the market trend in the short term because it focuses more on the payment segment. Meanwhile, in response to the long-term development of the banking and financial technology industries, there is a lack of sandboxing mechanisms to help the implementation of new technologies gain support. and legal framework from the beginning ”, said Mr. Nguyen Hung, General Director of TPBank. Many regulations need to be further improved Banks also said that the legal framework and policy should continue to be completed, in which, the prerequisite is to speed up the process of building and developing the national database system on personal identification. and at the same time allow sharing, open connection with service industries such as banking, telecommunications, insurance … “Despite applying modern technologies, Vietinbank’s solutions cannot guarantee 100% accuracy that the identity documents that customers provide online are real, so all banks are looking forward to it. the national residential data system for the most accurate authentication, ”shared Deputy General Director of Vietinbank Tran Cong Quynh Lan. Representatives of banks also asked the authorities to issue a draft of agent banking to allow banks to develop service points (when banks are not allowed to open many branches / transaction offices. ). At the same time, it is necessary to speed up the development of regulations on user data protection, digital identity, and building an eKYC alliance. Complete regulations on transaction confidentiality, information security, detailed regulations on electronic signatures, electronic certificates, electronic transactions in accordance with international practices … A very important content is the permission to deploy the Sandbox mechanism – policy testing mechanism applicable to the application of new technologies and new business models in Vietnam. Allowing banks in the digital transformation process to have certain exceptions in meeting safety and efficiency ratios according to the State Bank’s regulations will help the bank boldly research and test new things. According to Mr. Duong Trong Chu, Director of Digital Banking Division of Lien Viet Post Bank, compared to some countries in the region, Vietnam’s digital conversion speed is relatively fast, but Vietnam is not yet a typical example of a country with the fastest speed of digital conversion in the world. Vietnam has a young, flexible and easy to accept the digital transformation model, but we face certain barriers. First, it must be mentioned that the Vietnamese people’s habit of using cash is too great. Second, Vietnamese people tend to trust physical transaction points rather than a digital bank model without branches / transaction offices. Third, the policy has almost no compulsory regulations for digital transformation, just stop at encouraging. Vietnam is an eager market to learn but takes a lot of time to implement because the legal corridor is slower than the development of business models. International experience shows that major cyber attacks are a top concern in the short term, and organizations face important trade-offs in improving their endurance and resilience. school network. According to a survey by Oliver Wyman, cyber attacks are rated as the No. 1 global risk by business leaders in developed economies as the No. 1 global risk in implementing business operations. Mr. Nguyen Xuan Nam, Strategic Director of Viettel Cyber ​​Security Company, affirmed that technology issues related to bank number conversion are now relatively safe, even able to catch up with the technology. Around the world, of course, there is still a need for improvement for the better, but people should not be too worried. For example, the current mobile banking applications are all applying new technologies to prevent exploitation of source code and are not allowed to be installed on unsecured phones. However, according to Mr. Nam, a problem posed is that the legal corridor related to user data is not very strict, such as regulations on information disclosure, personal data theft, as recently. There have been a number of cases of using data without the subject’s permission to register for credit cards or loans … Mr. Nam personally said that having opened a card at a bank A, the next day, there was a bank. customer B calls to ask, which means that customer information disclosure is quite common. However, according to Mr. Nam, from the consumer perspective, the most important thing is not about technology or legislation, but the consumer perception of information security, which is still relatively weak. There have been a lot of personal information theft, account theft not due to technology or legal, but due to the carelessness of users. Therefore, each citizen must actively learn basic cyber safety skills, along with state agencies accompanying businesses in communication to raise awareness for the people. Consider the risks and benefits Mr. Nguyen Ba Diep, Vice Chairman of MoMo e-wallet, said that a digital and innovative innovation model cannot work based on old regulations, heavy management, does not promote innovation. create. A simple example, instead of the parties coming to meet to sign a contract, we will use a digital signature (e-signature), sign on an e-contract, output digital documents. (e-invoice), payments in digital money (e-money) and transactions are done on digital platforms (digital platforms). Therefore, there is a need for legal provisions to create digital signatures, to identify (KYC), the identity of the signer, the legitimacy and protection of digital contracts, regulations on payment in money. electronic, manage sales on digital platforms and accept digital vouchers. “In order to meet the comprehensive digital transformation, the legal structure must also have changes in quantity and quality. However, this takes a lot of time for state management agencies to weigh risks and benefits, this is also a common trend happening worldwide because in reality there is no legal mechanism. can fully adapt to the revolutionary changes created by current technology “, Mr. Diep said. A lawyer in charge of managing a large Vietnamese commercial bank said that, basically, the current legal institutions are still inclined to paper transactions, cash transactions. There are a number of examples of this, but there is not yet a unified definition of digital assets and when there is an administrative dispute or violation, a criminal offense, there are a lot of problems like the definition by Evidence, evidence, electronic contract in the field of electronic transactions, digital transactions, how do we understand the integrity and originality of digital evidence? Another example, when a person dies leaving behind an amount of Bitcoin without an heir, nor with a password for the wallet containing Bitcoin, how will this “derelict property” be handled? Among the many problems posed with the bank number conversion, the lawyer said that banking transactions can be done almost entirely electronically, but still on the basis of a ” the first “paper” that the user communicates with the bank. However, the story would be very different if the whole process was done entirely electronically. “When taking photos of identity papers or photos of users, what data does the bank get to confirm the identity of that person?”, This person raised the problem. Agreeing with Vietinbank’s opinion, this lawyer emphasized that building a shared, linked database is extremely important to reduce effort and costs for all subjects in the commune. associations, including banks. All current legal issues pose many risks for financial and banking services on technology platforms. Therefore, the lawyer also proposed to amend the Law on Credit Institutions to be more practical, and soon allow the application of a sandbox mechanism for these services. Term 4: Legal provisions in digital economy need to be improved

At the General Meeting of Shareholders in 2021, the leader of VietinBank said, continuing to solve difficulties for businesses affected by natural disasters, epidemic COVID-19.

The results are positive

Information from the State Bank showed that: The credit flow is mainly focusing on production areas, priority areas, for example credit growth in agriculture, forestry and fisheries reached 2.42%; industry 3.04% … Credit in securities in the first quarter of 2021 reached VND 45,300 billion, down 1% compared to the end of 2020; credit in real estate reached 1.85 million billion, up 3%.

Credit growth is also evident in the business results of some banks. At the 2021 Annual General Meeting of Shareholders (AGM) of VietinBank that took place on the morning of April 16, Mr. Le Duc Tho – Member of the Party Central Committee, Chairman of VietinBank’s Board of Directors said: Quarter I / 2021, the safety and operational efficiency indicators of VietinBank are much better than the same period last year, of which the main operating income categories all grew by over 25% over the same period last year. 2020, operating costs will be managed effectively, cost-to-income (CIR) ratio will be maintained at a reasonable level; Asset quality is well managed, NPL ratio is managed below 1%.

With credit growth in the first quarter of 2021 reaching 3.69%, Vietcombank continued to lead the credit growth system. Vietcombank is assigned a credit growth limit of 10.5% in 2021. According to Mr. Nghiem Xuan Thanh, Member of the Central Committee of the Party, Chairman of the Board of Directors (BOM) of Vietcombank, the State Bank assigns a high credit target to Vietcombank based on many factors: ability to increase credit; capital is mainly poured into priority areas; low bad debt; Loan to deposit ratio (LDR) of the bank is only 71% while most other banks are over 90%. “With the result of credit increase in the first quarter of 2021, if the State Bank adjusts its growth target, Vietcombank can increase credit by 14% in this year 2021”, said Mr. Nghiem Xuan Thanh.

Representatives of LienVietPost on the morning of April 16 said: In the first quarter of 2021, Lien Viet Post Bank (stock code LPB) had a pre-tax profit of 1.112 billion dong, nearly doubling the same period last year. By the end of March 31, 2021, LienVietPostBank’s total assets reached more than 245,200 billion, an increase of over 20% over the same period last year. Capital mobilization from economic organizations and individuals continued to grow well, reaching nearly 206,300 billion VND. Market 1 outstanding loans reached over VND 183,100 billion, an increase of more than VND 6,100 billion compared to the end of 2020. Notably, the proportion of retail growth in credit growth in the first quarter of 2021 was more than 80%, shows the bank’s consistent orientation towards the retail segment.

On the HoSE stock exchange, stock LPB was in the group of stocks with the highest market price growth in the first quarter of 2021, up nearly 40%, from 12,400 VND / share in the trading session on December 31. / 2020 to 17,350 VND / share in the session on 31/03/2021. And currently reaching the price of nearly 19,000 VND / share. According to the plan on April 29, LienVietPostBank will hold an annual shareholder meeting, it is expected that this year, the bank will set a pre-tax profit target of 3,200 billion dong. Thus, with the results of the first quarter of 2021 reaching VND 1,112 billion, LienVietPostBank has completed about 35% of the profit target in this year’s business plan.

“The COVID-19 epidemic that broke out in some localities across the country continued to negatively impact production and business, especially the accommodation, catering, transportation and tourism industries; the consumption of agricultural products in some localities in epidemic areas has many difficulties …, affecting production and business, revenue and cash flow to repay debts of customers, thereby affecting bank credit activities ” , Mr. Nguyen Tuan Anh, Director of Credit Department for Economic Sectors (SBV).

In the difficult context of the economy, credit institutions (CIs) have implemented solutions to support people and businesses to overcome difficulties caused by the COVID-19 epidemic, by the end of March. / 2021 has restructured the repayment term for nearly 263 thousand customers with outstanding loans of more than VND 353 trillion; interest rate exemption, reduction and reduction for more than 660 thousand customers with outstanding debt balance of over VND 1.27 million. In particular, credit institutions have provided new loans with lower interest rates than before, with accumulated sales from January 23, 2020 up to now reaching over VND 3 million billion to over 452 thousand customers.

Maintain growth, support businesses

According to Governor of the State Bank of Vietnam (SBV) Nguyen Thi Hong, positive information on the first quarter business index of the banking system is the basis for forecasting credit growth this year will reach about 12%. This number will also be adjusted to suit the actual situation.

According to Dr. Vo Tri Thanh, a member of the National Financial and Monetary Policy Advisory Council, said that at present, the State Bank still operates a credit policy based on the total credit growth, but is flexible in the face of developments. try to both contribute to the economic recovery process but also have to be skillful so as not to cause “break-up” in the macro. “The credit growth rate in recent years has been slower, but the growth rate is not low compared to the previous years. The scale of credit balance / GDP is getting bigger and bigger (currently about 140%), so it is reasonable for the credit control to increase at 12% in 2021. If the economy recovers well, the credit for the whole economy can increase by 11-13% this year and is expected to grow stronger from the second quarter, “said Dr. Can Van Luc, economist. BIDV’s chief forecasted.

“VietinBank continues to proactively implement solutions to balance capital effectively, reduce capital costs to create resources to continue strongly implementing preferential policies, reducing lending interest rates and service fees, maintain the level of lending interest rates and service fees at the lowest and most reasonable level, support and accompany people and businesses affected by the COVID-19 epidemic, ”said Mr. Le Duc Tho.

Outstanding loans of VietinBank in 2021 are expected to grow by 7.5%, complying with the credit limit approved by the State Bank; capital mobilized from economic entities and individuals grew by 8-12%, adjusted in accordance with credit growth, and ensured prudential ratios as prescribed by the State Bank of Vietnam. NPL / credit balance is controlled below 1.5%.

From now to the end of the year, VietinBank continues to grow strongly in business activities, accompanied by dramatic improvements in quality and efficiency; implementing appropriate credit growth solutions while balancing effective capital sources; improving the quality of risk management, quality of growth, effectiveness and efficiency of internal control inspection; accelerating debt collection, handling risks, bad debts, improving asset quality. “Continuing to implement solutions to help remove difficulties for customers affected by natural disasters and epidemics, especially the COVID-19 epidemic under the direction of the Government and the State Bank of Vietnam,” said Mr. Le Duc Tho. .

Overview of the signing ceremony.

According to the cooperation content, NAPAS and VietinBank agreed to develop 2Card dual card products in accordance with the State Bank (SBV) ‘s domestic chip card technical standards in order to simplify the procedures and the delivery process. card issuance for customers, meeting diversified spending and shopping needs of customers, increasing convenience and safety during card usage.

The 2Card dual card is expected to be officially released by VietinBank in the third quarter of 2021.

Speaking at the event, Mr. Dam Hong Tien, Head of Retail Division of VietinBank, said: VietinBank is the pioneer bank cooperating with NAPAS in the development of 2Card dual card product line to bring completely new experiences and difference for domestic cardholders. The 2Card card promises to provide more payment utilities with low cost and outstanding incentives.

And Mr. Nguyen Dang Hung, Deputy General Director of NAPAS emphasized that the 2Card dual card is a unique domestic card line for the first time in Vietnam, applied with the most advanced payment technology and completely owned by Vietnam. own.

2Card dual card in particular and multifunctional and multi-utility payment products in general will make an important contribution to promoting non-cash payment solutions in Vietnam – a major policy of the Government during the period. present paragraph.

The cooperation in the development of 2Card cards continues to affirm the commitment of VietinBank and NAPAS in always taking customers as the center, connecting customers with the bank with innovative, reliable, easy-to-access payment products. , easy to use for everyday life.