The excellent connection between a leading future neobank in Vietnam and a bank in the process of "makeover" marks a new turning point in leveraging "cross-border" services.
According to the World Bank, Vietnam's remittances will likely increase by 4.5 percent in 2021 compared to 2020. (estimated at about 18 billion USD). Given that the pandemic has had a significant impact on the global economy over the last two years, this is considered an impressive growth figure, demonstrating that people's demand for remittances is always high.
People must still go through fast money transfer organizations, which charge a high fee of 4-6 percent of the total amount transferred, or go directly to the bank to complete the procedures. Sending and receiving money... are stumbling blocks to attracting remittances. As a result, utilizing the technology platform to assist customers in receiving funds directly into payment accounts opened at banks will contribute to the growth of remittances to Vietnam.
PVcomBank provides a platform to develop remittance services for FinFan.
FinFan is a leading partner of more than 30 major money transfer companies in the world, operating under the criterion of a "neobank" - an online bank that operates without the need for a loan - for the Fintech community in Vietnam and abroad. traditional physical branch network, assisting in bridging the financial gap between the overseas Vietnamese community and their loved ones
In Vietnam, FinFan has connected and collaborated with PVcomBank - one of the most prestigious financial units in the Napas system - to develop a remittance service that brings many benefits. Customers will have a more convenient experience.
As a result, remittances sent through FinFan's system will be transferred immediately by PVcomBank to the customer's card number and domestic payment account number. Customers also do not need to go directly to the courier unit to transfer - receive money; manipulating large sums of money into a bank account does not require much effort or time.
A PVcomBank representative commented on the above collaboration, saying, "In the context of the entire world digitizing financial products, PVcomBank's active expansion of cooperation with Fintech units such as FinFan marks a turning point. the Bank's strength in promptly meeting the increasing demands of customers."
PVcomBank's representative added that the Bank will continue to expand cooperation with other major partners in the field of finance and banking in the future, not just in remittances and remittances. technology to provide superior financial solutions to a larger number of customers This demonstrates PVcomBank's agility in anticipating and catching up with market trends, and clearly demonstrates the action motto "Bank without distance," always aiming to build the image of a friendly, dedicated financial unit for the success of its customers.
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