Cooperation in developing banking services on digital seaport platform

According to the memorandum of understanding, BIDV and SLT will strengthen cooperation to become comprehensive partners of each other, aiming to provide a digital ecosystem for seaports, import-export enterprises and customers on the Vietnam SmartHub Logistics platform (VSL - https://vietnamhub.vn/) and specialized software and applications for seaport operations.

Ms. Do Thi Thanh Huyen - Director of BIDV Wholesale Product Policy Department and Mr. Nguyen Anh Viet - General Director of SLT Company - signed the Memorandum of Understanding.

As one of the banks with the leading import-export market share, BIDV is serving more than 10,000 import-export enterprises and financing many large and important seaports nationwide such as SPITC International Container Port, Cai Mep Gemalink Port, Nam Dinh Vu Port, Vinh Tan International Port, Long Son Port, Nghi Son Port, Phu My IDC, Dung Quat Port, ... and many other seaports. The total value of financing for seaport projects by BIDV is up to more than 13,000 billion VND. SLT is a pioneer in the field of providing digital seaport solutions with a strategic orientation of developing "open port" solutions, connecting logistics operating components such as seaports, shipping lines, manufacturing and trading enterprises and State agencies to create an automated centralized electronic control center, helping to increase efficiency and reduce costs for seaports and participants. SLT's VSL ecosystem has been applied at 35 major seaports, integrating data with 150 shipping lines, 2,000 transport companies and 22,000 tractors. Through BIDV Open API connection, BIDV's collection, payment, guarantee, credit and trade finance services will be integrated on the VSL platform and other SLT digital seaport software and applications. BIDV's banking services will become easily accessible to all seaports, import-export enterprises, and logistics service providers, helping to digitize financial management activities of seaports, optimize operations, save human resources and costs for seaports as well as thousands of transport units and companies operating in the import-export sector. BIDV will apply preferential policies, creating opportunities to access services, capital sources, and trade finance services for SLT's customers. According to Mr. Tran Long - Deputy General Director of BIDV, the signing ceremony between BIDV and SLT is an important start for the two sides to connect, accompany, and bring to the market new solutions combining digital banking and digital seaports, further promoting the digital transformation process in the seaport sector as well as the economy . "Integrated banking services on the VSL platform via BIDV Open API will complete the customer journey and at the same time open up opportunities for breakthrough development of the customer base and business results for both sides" , Mr. Tran Long emphasized. Mr. Ta Minh Vang - Chairman of the Board of Directors of SLT Company - also shared: SLT is expanding cooperation with large financial institutions with a vision for applying technology, to jointly provide effective payment and financial utilities for port businesses, shipping lines, import-export enterprises, forwarder companies... "We are pleased to accompany and cooperate with BIDV in the journey of transforming the seaport business from a traditional model to a digital model" , Mr. Ta Minh Vang affirmed.

On November 29, 2023, BIDV cooperated with IBM - the world's leading technology group - to launch the BIDV Open API system and pioneer the implementation of the open banking business model in the Vietnamese market . BIDV Open API has created a big buzz in the market. After only 06 months of implementation, BIDV has received over 240,000 API calls via sandbox, nearly 600 trial accounts and more than 100 partners registered for integration.

BIDV's integrated banking services have been widely spread on sales management, supermarket management, hotel management, cash flow management (CMS) platforms, enterprise resource planning (ERP) platforms and many software/applications in all sectors of the economy.