Best cash management bank in Vietnam

AnH PHuong

BIDV was recently honoured to be named by Asiamoney Magazine as “Best domestic Bank for cash management service in Vietnam 2020” in recognition of its outstanding achievements in this field.

The award was given in light of BIDV’s comprehensive strategy and performance in cash management. The bank’s cash management solutions offer multichannel cashflow management, 24/7 online bill payment, and a virtual account solution to support cash flow management for institutional customers. BIDV successfully deployed an online payment gateway that connects the accounting system and ERP system of institutional customers with the BIDV iBank system.

BIDV has left its footprints in providing online payment services for administrative fees, hospital fees, fee collection and bill payment for schools. Despite the impact of the Covid-19 pandemic, BIDV’s institutional customer base had grown well, reaching 323,000 as of February 2021.

The “Best domestic Bank for cash management service in Vietnam” award, a category in the Annual Awards organised by Asiamoney, reaffirms BIDV’s leading position in service provision in Vietnam, and is testament to the bank’s commitment to providing quality service to customers.

Founded in 1989, Asiamoney is the leading financial publication in Asia. Asiamoney’s 2020 Cash Management Survey rankings are derived from the votes collected in Euromoney’s global Cash Management Survey.

The survey received over 32,871 valid non-financial institution responses, up from 25,000 responses last year. Asiamoney ranked the top overall banks including Asian and domestic banks as part of its annual cash management survey of cash managers, treasurers, and financial officers.

In October last year, BIDV was also honoured by The Asian Banker as “Best Transaction Bank in Vietnam” and “Best Cash Management Bank in Vietnam” for its effective payment and cash management solutions.