Global Banking and Finance Review Recognizes CIMB Vietnam for Excellence in Innovation

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Banking

Posted By Wanda Rich

Posted on July 5, 2023

Global Banking and Finance Review Recognizes CIMB Vietnam for Excellence in Innovation – Digital Banking Vietnam 2023

CIMB Vietnam, a leading digital bank in Vietnam, has been honoured with the Excellence in Innovation – Digital Banking Vietnam 2023 award by Global Banking and Finance Review in the prestigious Global Banking & Finance Awards®. This recognition highlights CIMB Vietnam’s exceptional achievements and advancements in the field of digital banking with their outstanding strategy.

The Global Banking & Finance Awards® are renowned for identifying and celebrating institutions that demonstrate outstanding expertise and progress in the finance industry. This award serves as a testament to CIMB Vietnam’s dedication to innovation, leadership, and customer-centric solutions in the digital banking sector.

As the first CIMB Group franchise to adopt a digital bank model in 2016, CIMB Vietnam has established itself as a pioneer and a prominent player in Vietnam’s digital banking landscape. The bank’s commitment to excellence and continuous development of cutting-edge products have propelled them to this remarkable achievement.

Wanda Rich, Editor of Global Banking and Finance Review, commended CIMB Vietnam for their industry-leading performance, stating, “CIMB Vietnam is at the forefront of digital banking in Vietnam. Their continuous drive for innovation, strategic partnerships, and customer-focused product creation has fuelled their rapid growth. CIMB Vietnam’s strong industry relationships and forward-thinking approach have cemented their position as the winner of the Excellence in Innovation – Digital Banking Vietnam 2023 award.”

CIMB Vietnam’s success can be attributed to their strategic partnerships and their digital bank model, which enhances customer engagement and satisfaction. The bank has experienced substantial growth, surpassing half a million customers as it solidifies its partnership model and introduces differentiated digital products to the market.

OCTO by CIMB, a versatile digital banking platform that provides customers with round-the-clock accessibility and a seamless banking experience. OCTO by CIMB offers convenient online account opening, recharge and top-up services, free money transfers and cash withdrawals, secure card management, bill payments, and mobile phone recharges. The platform incorporates modern security features, including OctoBio, OctoShield, eKYC, in-house AI Fraud tool and 3D Secure 2.0, ensuring the safety and convenience of its customers.

This award is indeed a welcome acknowledgment of the work we have done as a team effort. This does not come from digitizing existing services based on traditional platforms like other banks. We entered the market with the sole purpose to Disrupt & Proliferate a Differentiated Digital Banking Model. “Digital footprint” will be the way forward for all banks. In Vietnam, CIMB’s customers now can open Spend Account, Credit Card or apply for Personal Loan 100% online from other non-bank platforms by our strategic partners. Since implementing more new digital bank products in 2020, CIMB has received numerous positive feedbacks from Vietnamese consumers, giving us strong validation to continue our break-through journey in this country – Mr. Thomson Fam Siew Kat, CEO of CIMB Vietnam

CIMB Vietnam is a branch of CIMB Group, a leading global bank in ASEAN with extensive experience and expertise in the region. The bank is headquartered in Hanoi, offering a comprehensive range of banking products and services to individuals, businesses, and corporations. With a strong commitment to excellence and a focus on customer satisfaction, CIMB Vietnam aims to create opportunities and value for its customers, making it a trusted financial service provider and a reliable business partner.

For more information about CIMB Vietnam and its innovative digital banking solutions, please visit CIMB Vietnam

About the Global Banking & Finance Awards®

Since its inception in 2011, The Global Banking & Finance Awards® honour institutions that stand out in their particular area of expertise in the finance industry. The Awards reflect the innovation, achievement, strategy, progressive and inspirational changes taking place within the Global Financial community. The awards were created to recognize companies of all sizes which are prominent in particular areas of expertise and excellence within the financial world.

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