Sacombank has pioneered digital transformation in Vietnam. This has facilitated strong growth in online FX activities, with the bank becoming one of the leading banks in this segment.
Sacombank has integrated its online FX platform, which supports online price fixing, with its internet/mobile banking offering.
It is the first bank in Vietnam to support fixing the price at the exchange rate negotiated with the customer or to notify clients when the exchange rate reaches a desired level. This means that clients no longer have to wait for the day trading session.
There is rapid growth in import/export payments in Vietnam, both by the number and volume of transactions. Sacombank has processed $18 billion of such payments through its international payment service, mostly for small and medium-sized enterprise clients. This has boosted revenues by 10% to 15%.
SMEs often cite a lack of financial information as one of the main impediments to growth.