Launching 'Group Account': Digital assistant for 4.0 treasurers

DNVN - In the context of increasingly diverse needs for group fund management, Vietnam Joint Stock Commercial Bank for Investment and Development (BIDV) launched the product "Group Account" on the BIDV SmartBanking application.

Users can collect funds, contribute funds, and manage funds transparently with "Group Account"

Digitalization in crowdfunding management

Previously, the management of group funds was often done manually: Members transferred money, paid money to the treasurer, and the treasurer recorded the books or summarized them on Excel spreadsheets to track income and expenditure. Many cases occurred due to mistakes, discrepancies in reports or took a long time to reconcile between members.

With “Group Account”, BIDV offers a comprehensive digital solution. All transaction information from deposit, spending to balance fluctuations are displayed directly and instantly on the SmartBanking application. The fund owner can add unlimited members to the group fund and each member in the group can monitor the general income and expenditure situation, ensuring absolute transparency.

In particular, the product is designed with a clear decentralization mechanism: Only the fund owner has the right to make spending transactions, while other members can monitor all account fluctuations and view the contribution statistics of each member in the group. This organization helps eliminate unnecessary disputes, while enhancing the trust and safety of all group financial activities.

Convenient solutions for all groups

With the goal of becoming a companion of every community group, "Group Account" aims to serve a variety of needs from parent funds, class funds, groups of close friends, volunteer groups to sports and arts clubs... With just a few simple operations on the phone, users can create an account, add members and start managing the fund in minutes without having to meet in person or handle complicated paperwork.

In particular, fund owners can enable the "Smart Investment" feature for the Group account, so that unused idle money from the group fund will be automatically saved with an interest rate of up to 2.6%/year, helping to optimize profits for the group.

BIDV representative shared: “The goal of the product is to make group financial management more transparent, easier and more enjoyable. Instead of being busy with books, formulas, spreadsheets, groups can spend more time creating meaningful activities together.”

Attractive offers on the occasion of launch

On the occasion of the product launch, from now until December 31, 2025, BIDV is implementing a preferential program for customers opening new "Group Accounts". Specifically, each eligible group of at least three members, including at least one member registering for SmartBanking for the first time and generating at least five fund deposit transactions in the month of account opening, will be given 50,000 Bpoints.

In particular, in October - the month to honor Vietnamese women, group funds that open new accounts will have the opportunity to participate in a cash prize drawing program with hundreds of valuable prizes. Of which, 100 groups with female fund owners will receive a prize worth 2,010,000 VND, in addition to 100 prizes of 300,000 VND for other groups.

With “Group Account”, BIDV continues to affirm its pioneering role in the digital transformation journey, bringing banking technology closer to community life, thereby opening up a new way for groups, associations, and collectives to manage and enjoy fun more easily, transparently and modernly than ever before.

Nguyen An

Source: https://doanhnghiepvn.vn/doanh-nhan/ra-mat-tai-khoan-hoi-nhom-tro-thu-so-cho-cac-thu-quy-4-0/20251008053729299