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Vietcombank’s success with VCB CashUp by iGTB from Intellect Design Arena

By Puja Sharma

March 15, 2024

  • Banking Innovation
  • Bill Payment
  • Bill Payments
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Originally established as a foreign trade bank, the Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) has evolved into a versatile financial institution offering a comprehensive suite of services.

As part of its digital transformation journey aimed at becoming the premier digital bank in Vietnam, Vietcombank has been seeking to adopt cutting-edge banking practices and advanced technologies. This case study highlights the successful deployment of the VCB CashUp project by Intellect Design Arena.

VCB CashUp encompasses a robust transaction banking product suite, including Digital Payments, Enhanced Liquidity Management, Supply Chain Finance, Virtual Accounts, Electronic Cash Collections & Receivables, Bill Payments, Host-to-Host services, and other sophisticated functionalities such as Information Reporting and Cash Flow Forecasting. These offerings cater to all segments of Vietcombank’s corporate clientele, including Large Enterprises, State-Owned Enterprises, Foreign Direct Investment, and Financial Institutions.

Following the implementation of VCB CashUp, Vietcombank experienced notable improvements in revenue generation, operational efficiency, and customer satisfaction. Since 2021, the bank has witnessed a remarkable increase in monthly revenue, reaching VND 55 trillion, accompanied by a substantial 500% rise in overall revenue.

This case study underscores Vietcombank’s successful adoption of innovative technologies to drive business growth.

A Must-Read Case Study

Innovative Digital Transformation: Explore how Vietcombank, a prominent player in the Vietnamese banking sector, embraced cutting-edge technologies to spearhead its digital transformation journey.

Comprehensive Product Suite: Delve into the features and capabilities of VCB CashUp, a comprehensive solution offered by Intellect Design Arena. From digital payments to supply chain finance, this case study provides insights into how Vietcombank enhanced its offerings to cater to diverse corporate segments.

Tangible Results: Witness firsthand the tangible outcomes achieved by Vietcombank post-implementation. From increased revenue streams to notable operational efficiency enhancements, learn how VCB CashUp propelled Vietcombank to new heights in the industry.

Revenue Growth and Operational Efficiency: Gain valuable insights into how Vietcombank achieved remarkable revenue growth, generating VND 55 trillion/month since 2021, coupled with a significant 500% increase in revenue.

Enhanced Customer Experience: Understand the pivotal role VCB CashUp plays in enhancing customer experience for Vietcombank’s corporate clients. Learn how advanced functionalities such as information reporting and cash flow forecasting contributed to superior client satisfaction.

This case study encapsulates a compelling narrative of banking innovation and success, offering invaluable lessons and inspiration for industry experts seeking to drive digital transformation and elevate their institutions to new levels of excellence.

 

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