BIDV named as Best Foreign Exchange Bank in Vietnam
VOV.VN - The Bank for Investment and Development of Vietnam (BIDV) has been awarded the Best Foreign Exchange Bank in Vietnam by The Asian Banker (TAB) and Asian Banking & Finance (ABF) magazines.
The award recognizes BIDV’s contribution to increasingly tapping into opportunities of foreign direct investment (FDI) in Vietnam and becoming the leading bank in deploying online foreign exchange (FX) capabilities.
Amid increasing opportunities relating to FDI, the bank was able to become the first market mover in the country to deploy online FX platform to generate an annual volume that grew by more than 70% for customers across electronics, technology, and manufacturing sectors.
With more than 85% of potential clients adopting its platform for their FX needs, corporates can initiate FX transactions on their Enterprise Resource Planning (ERP) linked through Application Programming Interface (API) to the platform, thereby saving clients hassle and mitigating operational errors. Given these initiatives, it also sought to reduce the turnaround-time on FX transactions to under five minutes.
This marks the second time that BIDV has received the award from The Asian Banker and the fourth year the Vietnamese bank has been given the title by Asian Banking & Finance.