Banks support businesses in digital financial management

To promote digital transformation (DCT) of enterprises and participation in financial activities in the digital environment, recently, banks in the province have actively provided modern services on digital technology platforms specifically serving the group of enterprises.

Producing export garments at Sao Viet Company Limited, Vinh Tri village, Yen Tri commune (Y Yen).

With the goal of supporting business customers to transact and make digital payments more conveniently, the Vietnam Joint Stock Commercial Bank for Industry and Trade ( VietinBank ) system in the province has deployed the feature of disbursing and issuing online guarantees right on the digital banking platform for businesses VietinBank eFAST. Businesses have been granted a loan/guarantee limit and have a digital signature, can perform online disbursement and guarantee issuance transactions right on the VietinBank eFAST digital banking application. The debt receipt and guarantee issuance request are digitally signed by the customer and the bank completely on the system and ensure full legality. The disbursement/guarantee issuance purpose file is uploaded by the business on the internet banking system without the need to provide additional paper documents to the bank. In particular, all files are stored 100% online, making it easy for customers to look up/manage. Customers are continuously updated on the status of the transaction via the email registered with the bank. With this feature, businesses can disburse/issue guarantees anytime, anywhere, even when business leaders are on business trips. Thanks to that, businesses save time and transaction processing costs, reducing all printing, transportation and storage of paper documents. The development of the online disbursement and guarantee issuance feature on VietinBank eFAST is part of the roadmap to continuously increase the digitalization of VietinBank's products and services. Thereby, VietinBank wishes to optimize customer experience and accompany businesses on the digitalization journey.

With continuous innovation and creativity in the digital transformation process, Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) Nam Dinh Branch is increasingly bringing many modern products and services to customers on the e-banking platform specifically designed for each customer segment such as: VCB Digibank for individual customers, VCB DigiBiz for small and medium-sized enterprise customers. For corporate and institutional customers, Vietcombank has successfully applied the VCB CashUp System - the first modern and comprehensive payment and cash flow management system in Vietnam. VCB CashUp is set up with a smart interface on all technology devices, providing a consistent experience for customers; at the same time, meeting the needs of multi-level, multilateral management, serving the entire ecosystem of enterprises. Vietcombank has also taken the lead in deploying the Online Trade Finance Service, ensuring high quality and meeting international standards to effectively support enterprises in the field of trade finance. Techcombank Business Mobile application of Vietnam Technological and Commercial Joint Stock Bank helps corporate customers transfer money, pay bills (electricity, water, tax, customs...), transfer money in batches, pay salaries and manage finances, buy and sell foreign currencies on multiple platforms and secure many different types of transactions. Many enterprises have actively applied digital transformation in their transactions and financial management thanks to the services provided by the banking industry such as: paying salaries, paying electricity, water, telecommunications fees, electronic taxes, order payment transactions, accessing short-term loans to serve year-end orders, reducing costs and human resources in accounting and finance, increasing work efficiency, managing records, expanding consumer markets through e-commerce, managing cash flow... Saigon Thuong Tin Commercial Joint Stock Bank (Sacombank) Nam Dinh Branch also promotes the expansion of digital banking services for online international payments to help enterprises proactively transact anytime, anywhere such as: managing and paying domestic taxes, customs duties 24/7; Paying salaries, paying in batches, paying port service fees, transferring money to securities accounts... Or the Military Commercial Joint Stock Bank (MB) has also launched BIZ MBBank, a smart digital financial - banking service platform to help businesses proactively meet all financial needs without going to the bank.

According to experts, banks are trying to "weigh" products specifically for corporate customers on digital channels, both creating convenience and providing positive support, especially for small and medium-sized enterprises with limited financial management capacity, helping businesses easily manage their cash flow and capital. Along with that, to attract customers, digital banking services also offer businesses many attractive incentives, many services are completely free. By deploying digital products, revenue from the digital service sector of banks will increase thanks to the fees collected. In addition, the connection between electronic banks and internal management software of enterprises creates continuous interaction, creating a basis for connection and understanding between the two sides regularly, accurately and transparently, which will be the basis for banks to expand credit limits for customers; Applying capital financing loan products with high credit levels based on business plans, inventories and future revenue of businesses and customers.

To attract businesses to increasingly use banking services in the digital environment, in the coming time, banks will promote the design of suitable loan products, apply digital technology to support businesses in management, finance - accounting, improve competitiveness, and develop e-commerce in the domestic and export markets. Increasing the application of digital technology solutions will help businesses consolidate their finances, digitize document and data systems, reduce traditional distribution networks such as stores and agents, and gradually shift to business methods on e-commerce platforms. Along with that, businesses themselves also need to pay attention to increasing investment in technology, choosing digital transformation strategies that are suitable for the reality in production and business stages. Only then can the digital technology tools provided by banks be fully effective in helping to create strong changes in digital transformation in businesses, gradually forming a solid and sustainable digital economy.

Article and photos: Duc Toan

Source: https://baonamdinh.vn/kinh-te/202406/ngan-hang-ho-tro-doanh-nghiepquan-ly-tai-chinh-so-ff4026a/