The Vietnam Digital Communications Association honored the Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) as an Excellent Digital Transformation Enterprise" with breakthrough and effective technology solutions.

BIDV representative receives the digital transformation award

The Vietnam Digital Transformation Award is organized annually by the Vietnam Digital Communications Association (VDCA) under the auspices of the Ministry of Information and Communications. The award aims to honor outstanding digital transformation achievements of state agencies, public service units, enterprises and individuals, etc., thereby contributing to promoting the national digital transformation.

In the 2024 season, with 03 breakthrough strategic technology solutions including BIDV Payment Hub, Delta data migration into Core Banking system, BIDV Open API system, BIDV was highly appreciated by the organizer and honored with the award "Excellent Digital Transformation Enterprise".

BIDV Payment Hub is an optimal, comprehensive solution for centralized processing of payment transactions. This is a solution researched and built solely by BIDV. With its outstanding advantages, Payment Hub helped BIDV become the first commercial bank in Vietnam and among top 30 percent of banks in the world to successfully process transactions following the ISO20022 standard.

Migrating Delta data into the Core Banking system is a large-scale data conversion solution, playing a crucial role in the migration process of BIDV's Core Banking system. Thanks to this solution, the service downtime when converting Core Banking was shortened to a record of only 16 hours - the shortest in the Core Banking migration process of banks. This process includes migrating data of 18 million customers nationwide, supporting BIDV to modernize the core transaction system and improve user experience.

BIDV Open API system is an open application communication platform, providing several smart banking services, directly integrated into partners' applications and digital platforms. This solution has attracted 246,000 API calls and nearly 700 trial accounts as of August 2024, marking a critical step in BIDV's digital ecosystem expansion strategy.

With the "Excellent Digital Transformation Enterprise" award, BIDV continues to affirm its position as a commercial bank with a leading index of capability for development and application of information, communication and technology (ICT) in Vietnam. At the same time, BIDV maintains its role as a pioneer bank in applying the achievements of the 4.0 industrial revolution into its operations to create and develop digital ecosystems, bringing more convenient digital products and better meeting the diverse needs of customers.