Vietnam’s BIDV goes live with trade finance tech by Surecomp

Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) has gone live with tech partner Surecomp’s DOKA and allNETT solutions.

Toronto-based Surecomp’s technology will support the ongoing growth and digitisation plans at BIDV, which is Vietnam’s largest bank by total assets.

The agreement to implement a new end-to-end trade finance solution was announced in September 2019 as part of a broader digital transformation strategy.

The implementation was carried out by Surecomp’s teams in Asia with support from local partner CMC Technology and Solution (CMC TS).

Surecomp says the newly digitised operation will boost efficiency and response times and help BIDV remain competitive and deliver an enhanced customer service.

BIDV senior executive vice president Le Trung Thanh says: “Given its high priority, we believe in the value and competitive edge this digitalisation path brings BIDV.”

Established in 1957, BIDV is Vietnam’s longest operating bank, with total assets of more than $85 billion as of June 2022.