Sacombank was the only bank in Việt Nam recognised by the ASEAN Business Advisory Council at the 2024 ASEAN Business Awards in the field of digital transformation. — Photo courtesy of the bank

Sacombank was the only bank in Việt Nam recognised by the ASEAN Business Advisory Council (ASEAN BAC) at the 2024 ASEAN Business Awards (ABA 2024) in the field of digital transformation.

The awards ceremony took place within the framework of the ASEAN Business and Investment Summit 2024 organised by the ASEAN BAC as part of the 44th ASEAN Summit in Laos.

Launched in 2007, the prestigious award aims to honour businesses with outstanding achievements and contributions to the region's development.

The ABA 2024 focuses on priority integration sectors, including agriculture, energy, food & beverage, digital transformation, infrastructure, tourism, travel, healthcare, transport & logistics, and education.

The Digital Transformation award recognises businesses with strong digital transformation capabilities that have driven breakthrough changes in operations and customer experience.

The award is a testament to Sacombank’s long-term digital transformation journey, which it has pursued since its early days to create a seamless and consistent digital experience for customers, addressing all financial needs from customers quickly and conveniently.

Sacombank is a pioneer in rolling out modern, multi-utility, and user-friendly products and services, such as the Sacombank Pay digital banking app that integrates all financial services, contactless payment using Apple Pay, Google Pay, Samsung Pay and Garmin Pay,and QR code payment that allows customers to scan QR codes to initiate payment, transfer and withdraw money quickly in the domestic market and in Thailand, South Korea and Cambodia.

It is also a pioneer in applying eKYC technology that enables customers to open accounts, payment cards and non-physical credit cards within five seconds.

Sacombank has adopted a new generation AI-powered contact centre platform that offers multi-channel operations, and provides 24/7 customer service to further enhance customer engagement and experience.

It also put into operation smart teller machines and is proceeding to establish digital transaction points to enable customers to experience most modern financial technologies.

Sacombank boasts a customer base of approximately 19 million individuals and corporate customers, of whom 67 per cent are digital customers.

The number of transactions on Sacombank's digital channel has grown nearly six times since 2018 to 508 million in 2023.

The bank has stepped up digitalisation of its operational systems to improve productivity. It has fully implemented a digital process platform across its more than 540 branches nationwide. This platform automates most manual processes, reduces data errors, shortens transaction completion times by 60 per cent, and lowers operational costs.

The bank has garnered prestigious awards for its digital transformation achievements such as “Most Innovative Digital Banking Vietnam 2024” and "Most Innovative Retail Bank Vietnam 2024” from the International Business Magazine, "Outstanding Digital Bank" from the International Data Group, the Vietnam Bank Association (VNBA) and other government bodies, "Product of the Year - Top 100 Innovative and Effective Products and Services of 2024" from Vietnam Investment Review in collaboration with Viet Research, and the Sao Khuê 2024 award for its Multi-Modal Payment Solution for Enterprises. — VNS