With its unceasing efforts and bold initiatives, CIMB Bank Vietnam is honored Best New Digital Bank Vietnam 2020 by Global Banking and Finance Review (GBAF).
Within the year of 2020, CIMB has been highly recognized by GBAF for continuously implementing new technologies for its Octo mobile application as well as establishing strategic partnerships, building a digital banking ecosystem and promoting cashless payment, especially during the COVID-19 pandemic.
Notably, in April, while most of the banks were struggling with COVID-19, CIMB Vietnam launched eKYC for Visa OctoFast, marked it the 1st bank in the market to launch a virtual prepaid card with 100% digital onboarding process. In May, the bank jumped into discussion with Korea’s 1st Fintech Unicorn - Toss and co-created the first-ever bank account that can be opened and maintained straight from a non-bank app in August 2020. This partnership also marked an important milestone of CIMB on powering the innovation of in-app banking solution to meet modern financial needs of Vietnamese consumers.
During the interview with GBAF, Mr. Thomson Fam Siew Kat, CEO, CIMB Bank Vietnam said: “This award is indeed a welcome acknowledgment of the work we have done as a team. Our success does not come from digitizing existing services based on traditional platforms like other banks. Instead, we entered the market with the sole purpose to “Disrupt & Proliferate” a Differentiated Digital Banking Model. We aim to pursue automation and develop digital to the core to give customers easier tools and resources to achieve their financial goals.”
Global Banking and Finance Review is a prestigious magazine from the UK in the field of finance and banking. The Global Banking and Finance Awards is held annually to recognize banks and financial institutions for their innovation and strategies, creating inspiring changes in the global financial community.