Bold new approach for digital banking (source: freepik.com) By Vu Thanh Minh and Ha Thanh An Lawyers, LNT & Partners In addition to a number of notable changes relating to opening bank accounts, long-awaited reform via Circular 16 is the detailed regulation on opening individual payment accounts at credit institutions by electronic know-your-customer (eKYC). This is the first legal instrument that provides detailed guidance on its implementation. The system is used to verify customer’s identity against the declared information in compliance with applicable laws and regulations, with support from video call and AI technologies such as face-matching for photos on ID card, or optical character recognition to read and extract information, instantly comparing personal information with a centralised database of user identity. Thus, bank account opening and customer onboarding become much easier, as customers do not need to go to a branch to open a bank account. In the past, … [Read more...] about Bold new approach for digital banking
Vietnam Maritime Commercial Joint Stock Bank choses Amazon Web Services, Inc as its cloud provider for TNEX, the first digital-only bank in Việt Nam. — VNS Photo HCM CITY — Vietnam Maritime Commercial Joint Stock Bank has chosen Amazon Web Services, Inc, a subsidiary of the internet giant, as its cloud provider for TNEX, the first digital-only bank in Việt Nam. TNEX was developed by MSB in 10 months as a radically new mobile platform that brings all digital banking and lifestyle services under one umbrella through a super app. It is designed with customer experience and data science at the centre of its products, services and features, and focused on addressing unmet customer needs by offering free, innovative and simple everyday banking products to the approximately 60 million Vietnamese who have no or limited access to banking and financial services. TNEX offers its customers advanced digital banking services, supports their lifestyle needs such as food, education, … [Read more...] about Amazon Web Services to help set up VN’s 1st digital-only bank
Some reports show that Shopee has left its rivals far behind, and that Tiki is competing equally with Lazada, while Sendo is in the fourth position. The numbers of visits to wesbites from Q1 to Q4 2020 In 2020, when the rumor about the merger of Vietnamese sites Tiki and Sendo spread, many experts predicted that the combined efforts of the two e-commerce platforms would help increase the competitiveness of Vietnam’s e-commerce in the region. However, as the merger plan failed, the competitiveness of Vietnamese players in comparison with foreign ones remains a question. Shopee, Lazada have diverse goods, Tiki good at delivery A recent report from Reputa, a social listening platform, showed that Shopee is mentioned more on the internet more than other e-commerce platforms. Meanwhile, Tiki has gained fame for its the delivery speed. In 2020, nearly 70 percent of discussions on social networks were about Shopee. Lazada ranked second with 11.4 percent, followed by Tiki … [Read more...] about Are Vietnam’s e-commerce platforms inferior to foreign competitors?
AWS solutions are used in digital transformation journeys across the globe Globe is drawing on AWS’s broad and deep portfolio of cloud services, including compute, databases, analytics, machine learning, and customer engagement to enrich the lives of Filipinos by connecting more communities to the internet to enable to access digital finance, healthcare, and education services. To date, Globe has migrated carrier-grade and mission-critical applications, including contact centre operations, customer analytics, network and service assurance systems, and infrastructure operations, monitoring, and security, from its on-premises data centres to AWS. The telecom company continues to migrate applications to AWS to further modernise its technology infrastructure and innovate new services. By leveraging AWS, Globe Telecom reduced the time required to provision new infrastructure resources from more than two months to less than two days, increased app performance by 15 times, and reduced … [Read more...] about Globe Telecom accelerates Cloud journey with AWS
15th National Assembly expected to have 500 seats There will be a total of 500 seats in the 15th National Assembly at both central and local levels, according to a new resolution adopted by the National Assembly Standing Committee. Minister promises greatest efforts to ensure safety in COVID-19 vaccinations The Ministry of Health will mobilise all resources to carry out COVID-19 vaccinations, the largest-ever vaccination programme, so as to ensure absolute safety for people, Minister Nguyen Thanh Long has said. Long chaired a teleconference which was organised on March 6 and connected with 700 places across Vietnam to launch the vaccination plan and provide related training for medical workers nationwide in the use and storage of the vaccine, as well as the treatment of post-injection complications. He informed the teleconference that the vaccination programme will start on March 8, although the first batch of vaccine arrived in Vietnam on February 24. “As … [Read more...] about VIETNAM NEWS HEADLINES MARCH 7