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Vietnam’s BIDV to use Surecomp’s trade finance solutions

SurecompTrade finance fintech Surecomp has entered into an agreement with Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) to implement Surecomp’s DOKA-NG and allNETT solutions for the bank.

DOKA-NG and allNETT will serve as end-to-end trade finance solutions, helping BIDV with its ongoing digitalization plans.

“We are delighted to partner with Surecomp for this important part of our digital transformation journey,” said Tran Phuong, BIDV Senior Executive Vice President.

“We undertook a very detailed review of potential solution providers and Surecomp was the winning bidder as a result of their rich solutions, their track record of success with similar projects and their commitment to working with BIDV,” Phuong said.

DOKA-NG is a configurable back-office trade finance solution for local and regional banks. It carries out daily processing on a transaction-type basis, automatically executing all necessary working steps within each transaction. It can handle the full range of trade finance transactions.

allNETTis a state-of-the-art Web-based trade finance front-end system. Designed for use by the bank’s corporate customers and branch offices, allNETTprovides complete trade cycle support.

“DOKA-NG and allNETT will enable BIDV to expand the trade finance market in Vietnam. Surecomp is committed to supporting BIDV in its efforts,” Eyal Hareuveny, Surecomp President commented.

Established in 1957, BIDV is among the top three credit institutions in Vietnam. It is headquartered in Hanoi.

Surecomp provides trade finance and supply chain finance solutions for banks and multinational corporates. It has a global network of regional development and support centres in Argentina, Canada, Chile, Germany, Israel, Singapore, the UK and the US.

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