Vietcombank receives 2 risk management awards from Asian Banking and Finance

(Dan Tri) - Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) was awarded two risk management awards by Asian Banking and Finance Magazine within the framework of the Asian Banking and Finance Awards 2025 Ceremony in Singapore.

At the annual awards organized by Asian Banking and Finance (ABF) Magazine, Vietcombank was honored in both the risk management categories for Wholesale Banking and Retail Banking. In particular, the award for “Vietnam Domestic Risk Management Initiative of the Year” in the Wholesale Banking segment was given to Vietcombank’s Model Risk Management System.

In the Retail Banking segment, Vietcombank continued to be recognized with the award "Risk Management Initiative of the Year - Vietnam" for the VCB Tablet solution that authenticates customers through connecting and comparing data with the National Population Database of the Ministry of Public Security .

Vietcombank representative received two awards at the ABF Awards Ceremony 2025.

Model risk management system

In order to meet the requirements of compliance with international practices as well as internal needs in the context of increasing number of models and diversifying purposes of use, Vietcombank has researched and developed the Model Risk Management System. The system marks an important turning point in model risk management, with many outstanding features compared to existing systems on the market.

With the introduction of this system, model risk management at Vietcombank has undergone a remarkable change towards a more modern, focused and effective direction. The system not only supports better decision-making in risk management and business operations, but also contributes to improving the overall operational capacity of the bank in the digital transformation period.

Ms. Nguyen Thi Hong Van - Director of Legal and Compliance Division of Vietcombank - received the award "Risk Management Initiative of the Year" for the Wholesale Banking segment.

VCB Tablet - Vietcombank's customer authentication solution was honored. This is one of the pioneering banks to successfully deploy a customer authentication solution at the counter through connecting and comparing with the National Population Database.

The solution is designed to thoroughly address one of the major risks in the banking industry, which is the risk of falsely verifying customer identity, leading to acts of opening accounts with fake documents, impersonating others to borrow money, using accounts to launder money or defraud consumers.

The highlight of VCB Tablet is the ability to quickly and accurately identify through population data matching, helping to shorten transaction time and bring a convenient and modern experience to customers. The solution uses advanced technology platforms, operated according to international information security standards ISO/IEC 27001, ensuring the highest level of protection of biometric data and personal information.

Vietcombank representative received the award "Risk Management Initiative of the Year" for the Retail Banking segment.

Sharing at the ABF 2025 Awards Ceremony, Ms. Nguyen Thi Hong Van - Director of Legal and Compliance of Vietcombank - expressed her gratitude to the Organizing Committee of the Asian Banking and Finance Awards 2025 for recognizing Vietcombank's tireless efforts in innovating and improving risk management activities.

"This award is not only a source of pride, but also an encouragement for us to continue to maintain the spirit of learning and absorbing international practices, especially in the context of rapid changes in the finance and banking industry," Ms. Van shared.

Ms. Nguyen Thi Hong Van - Director of Legal and Compliance of Vietcombank - spoke at the ABF 2025 Awards Ceremony.

Being honored in the two important Risk Management award categories mentioned above is a testament to the efforts to innovate, apply modern technology as well as apply best practices towards sustainable development, at the same time, reaffirming Vietcombank's comprehensive risk management capacity in the context of a volatile market, as well as consolidating the pioneering position and leading role of the bank in the market, especially in the field of risk management.

Source: https://dantri.com.vn/kinh-doanh/vietcombank-nhan-2-giai-thuong-ve-quan-tri-rui-ro-tu-asian-banking-and-finance-20250707085440721.htm