The Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) received two awards of Best Payment Bank in Vietnam and Best Transaction Bank in Vietnam for 2018 at The Asian Banker Transaction Awards Programme.

​The awards ceremony was held in conjunction with the inaugural The Future of Finance Summit 2018, an annual gathering for decision makers in the financial services industry, held at China World Hotel, Beijing, China on 24 May.

Every year, The Asian Banker recognises achievements in the key business and operational areas of the financial services industry. The Transaction Awards, previously called The Transaction Banking Awards, evaluate financial institution’s achievements in terms of cash management, payments, and trade finance. The winners for these awards are determined through a combination of surveys, interviews and field research by The Asian Banker’s research staff. The findings of the research are published in a neutral manner, with a scorecard outlining the ways in which various domestic and global players feature in them.

BIDV was the first Vietnamese Bank to apply SWIFT GPI via API, offering an enhanced cross-border payments experience for clients. The bank joins more than 120 of the world’s major transaction banks that are already committed to the largest change initiative in the world of cross border payments.

BIDV launched its unique application in Vietnam, providing payment connection between banks via its Internet platform, processing payments automatically based on real time and processing bulk payments for a high number of transactions. The application is also able to process transactions made between financial institutions, catching up with the growth of the number of transactions of BIDV and the entire national economy.

The awards from The Asian Banker continue to affirm the position of BIDV in the international financial community. In recent years, BIDV has received prestigious awards such as Top 1000 Global Banks (as voted by The Banker); Top 500 Global Banking Brand (as evaluated by Brand Finance); The Leading Partner Bank in Vietnam (awarded by Asian Development Bank – ADB); and Best Domestic Trade Finance Provider in Vietnam (awarded by Euromoney), among others.