RELEASED DATE 07 Oct 2020
The award, based on the evaluation of a council of leading financial experts, researchers, is recognition of BIDV's efforts in providing the best and most suitable forex products to customers.
BIDV provides comprehensive foreign exchange services to customers, offering flexible solutions to mitigate risks and optimize deal plans through cross-selling products and hedging products. In addition, the bank has always focused on developing services based on modern technology, allowing customers to perform transactions quickly and conveniently while minimizing transaction costs and time for customers.
The Asian Banking & Finance recognizes BIDV’s foreign exchange activities based on 03 criteria: products, policies and technology application. Specifically, over the past years BIDV has introduced to customers diverse foreign exchange products in terms of terms, currencies and payment flexibility, thereby helping customers fix their costs in trading foreign currencies in line with their respective business characteristics. BIDV has also provided customers with exchange rate hedging solutions and saving costs through product bundles of forex trading, deposit, credit, trade finance, money transfer.
BIDV has also issued many policies towards optimizing benefits for customers in foreign currency trading. Such policies have helped BIDV's products reach more customers, reflected by the strong growth of 150 percent in forex trading volume between customers and BIDV.
Regarding technology, BIDV always strives to provide customers with the best digital experience in order to minimize trading time and papers. Customers may schedule transactions, buy and sell dozens of foreign currencies directly with the bank through online applications such as BIDV Smart Banking or BIDV iBank. They may also provide documents via the online applications to the bank for check before visiting the bank, which help significantly reduce trading time for both customers and the bank.
The Asian Banking & Finance has presented many prestigious awards to BIDV in areas such as SME, cash management, solutions for corporate customers as recognition of the bank’s relentless efforts in improving products as well as service quality to best serve customers, affirming the bank’s leading position in Vietnam, especially in areas of forex trading and service.