Digitisation helped VPBank reduce CIR from 35.5 per cent in 2017 to 34.3 per cent in 2018 Fuel for life Hanoi-based VPBank has been known to invest rather seriously in advanced technologies, innovative banking solutions, and eventually a digital bank last year. Its subsidiary, FE Credit, also devoted ample resources to disruptive technologies for an extreme makeover of its entire operations, from front to back office. Last summer, VPBank launched its Dream app assisting its customers in managing their personal finance via the convenience of their smartphone. During fall, it introduced the one-of-a-kind digital bank called Yolo that embeds an incorporated ecosystem of financial services and facilities like dining, entertainment, transportation, and so on. FE Credit, similarly, introduced its automated lending platform called $Nap in 2018, together with SHIELD (an app to purchase insurance online) and FE Card Mobile (a virtual credit card for FE’s credit card users), all aimed … [Read more...] about VPBank seeks digitisation for cost reduction and profit maximisation
Digitisation
Time to digitise land management
The Ministry of Natural Resources and Environment (MONRE) has been working on a strategy for the development of land management for the 2020-30 period.— Photo vov.vn HÀ NỘI — The Ministry of Natural Resources and Environment (MONRE) has been working on a strategy for the development of land management for the 2020-30 period. It is hoped it will meet the demand of e-government project as well as enhance the land use efficiency, said Mai Văn Phấn, deputy head of the MONRE’s General Department of Land Administration (GDLA). Speaking yesterday at a workshop organised by GDLA and MONRE, he said e-government and the Fourth Industrial Revolution played an important role in land management. A project on completing land information infrastructure at central and local level based on the involvement of relevant agencies was also being finalised, Phấn said. The workshop, entitled E-government and the Fourth Industrial Revolution: Opportunities … [Read more...] about Time to digitise land management
BUSINESS NEWS IN BRIEF 10/10
VinaCapital officially ends investment in poultry firm Ba Huan Ba Huan JSC, the country's leading pasteurized eggs and poultry meat producer, has decreased its charter capital from VND280 billion (US$12 million) to VND222 billion (US$9.53 million), effectively ending the involvement of VinaCapital, one of the two largest asset management firms in Vietnam, with the company. This results in an increase in the stake holding of domestic shareholders from 66.2% to 83.6%, of which Ba Huan's Director Pham Thi Huan owns 64%. In Feburary, VinaCapital`s flagship fund Vietnam Opportunity Fund (VOF) invested US$32.5 million to acquire a significant minority stake in Ba Huan. However, in early July, Ba Huan sought Prime Minister Nguyen Xuan Phuc's intervention in terminating its partnership with VinaCapital. The firm said there were differences between the English and Vietnamese versions of the agreement and the terms were not what the two parties had agreed initially. Among … [Read more...] about BUSINESS NEWS IN BRIEF 10/10
Tech helps brands stand out: experts
Viet Nam News HCM CITY — The use of 4.0 technologies and digital marketing provides a competitive edge as well as brand differentiation for companies, experts said at a conference held on Saturday in HCM City. Nguyễn Xuân Duy, digital marketing lecturer at BMG International Education, said that brand differentiation ensures that products and services can grab customers’attention and enhance competitiveness. However, creating positive experiences assisted by 4.0 technologies for consumers by focusing on customer service can also sharpen companies’competitive edge even if their products are not unique. In the age of 4.0 technologies and digital marketing, businesses cannot just simply sell products, but must work towards creating a smart ecosystem that revolves around customers, according to Duy. To gather information about customers while at the same time having data accessible by customers at any time, companies should use Big Data and other advanced … [Read more...] about Tech helps brands stand out: experts
Local firms and farmers must meet tracebility requirements in foreign markets
Local enterprises and farmers needed more information about the origin of export products because importers and retailers overseas had higher demands for traceability of agricultural products, according to experts.–Photo baocongthuong.vn HÀ NỘI – Local enterprises and farmers needed more information about the origin of export products because importers and retailers overseas had higher demands for traceability of agricultural products, according to experts. According to Cao Thị Kim Lan, director of Bình Định Seafood Joint Stock Company, regulations under the EU illegal, unreported and unregulated fishing act, 100 per cent of her company’s shipments must be kept at port for their origin to be established. Due to the requirement, the company faced many difficulties purchasing raw material for export processing because many did not meet the origin requirements of overseas markets, reported Người lao động (The … [Read more...] about Local firms and farmers must meet tracebility requirements in foreign markets