Sacombank wins an award for its digital transformation strategy


On December 16th, 2020, Sacombank was given the Sacombank Digitalization Strategy award for its digital transformation strategy in the framework of the International Innovation Awards 2020 awarded by the non-governmental organization Enterprise Asia (Malaysia). It was hailed for its outstanding innovations in business activities and creativeness in developing products and services.

With a vision of becoming a leading modern and multi-functional retail bank in Vietnam, Sacombank always focuses on innovation and considers digital transformation as leverage in its product and service development and business operation and business model. Since 2020, Sacombank has adopted digital technologies to create modern transaction channels, integrating Internet Banking and Mobile Banking. In 2015, it became the first bank to issue EMV standard cards and accept them at all POS and ATMs. The bank issued the first contactless payment card in the market and deployed the global EMV standard QR payment method in 2017, and launched the financial management app Sacombank Pay in 2018. In 2020, the bank adopted online identity verification (eKYC), the NFC mobile contactless payment service and the ‘Tap to Phone’ technology for contactless payments by mobile phones.

Simultaneously, Sacombank has also embraced digital transformation in its internal activities. In 2018 the bank has digitized sales processes, customer service and marketing (CRM), applied digital work environments (Microsoft Team), digitized business processes and online approvals towards paperless offices, applied cloud computing as well. In 2019, it has also launched the Loan Origination System (LOS), deployed online training, upgraded its T24-R17 core banking system, and adopted robotic process automation (RPA), artificial intelligence (chatbox), etc. Sacombank this year became the first bank to successfully organize its Annual General Meeting online, hold electronic voting and put into operation a cybersecurity operations centre that meets international standards.