On June 19, 2024, in Hanoi, the Bank for Investment and Development of Vietnam(BIDV) and Smarthub Logistics Technology Joint Stock Company (SLT) signed a Memorandum of Understanding (MoU) to implement integrated banking solutions on SLT’s digital port platform through the BIDV Open API system.

According to the MoU, BIDV and SLT will strengthen their cooperation to become comprehensive partners, aiming to provide a digital ecosystem for ports, import-export enterprises, and customers on the Vietnam SmartHub Logistics (VSL - https://vietnamhub.vn/) platform and specialized software and applications for port operations.

Mrs. Do Thi Thanh Huyen - Head of BIDV’s Corporate Product Policy Department, and Mr. Nguyen Anh Viet - CEO of SLT, signed the MoU.

As one of the leading banks in the import-export market, BIDV serves more than 10,000 import-export enterprises and finances numerous major ports across the country, including SPITC International Container Terminal, Cai Mep Gemalink Port, Nam Dinh Vu Port, Vinh Tan International Port, Long Son Port, Nghi Son Port, Phu My IDC, Dung Quat Port, and many others. The total value of BIDV’s funding for port projects exceeds VND 13 trillion.

SLT is a pioneer in providing digital port solutions with a strategic direction to develop “open port” solutions, connecting logistics stakeholders such as ports, shipping lines, manufacturing and trading enterprises, and state agencies into a centralized, automated electronic control center, enhancing efficiency and reducing costs for ports and participants. SLT’s VSL ecosystem is applied in 35 major ports, integrating data with 150 shipping lines, 2,000 transportation companies, and 22,000 tractors.

Through the BIDV Open API connection, BIDV’s collection, payment, guarantee, credit, and trade finance services will be integrated into the VSL platform and other digital port software and applications of SLT. BIDV’s banking services will become easily accessible to all ports, import-export enterprises, and logistics service providers, digitizing financial management, optimizing operations, and saving manpower and costs for ports and thousands of transport and import-export companies. BIDV will apply preferential policies, creating opportunities to access services, capital, and trade finance for SLT’s customers.

Mr. Tran Long - Deputy CEO of BIDV, stated that the signing ceremony between BIDV and SLT is an important start for both parties to connect and jointly introduce new solutions combining digital banking and digital ports, further promoting the digital transformation process in the port sector and the economy.

The integrated banking services on the VSL platform through BIDV Open API will complete the customer journey and simultaneously open up breakthrough development opportunities for both sides’ customer bases and business results, Mr. Tran Long emphasized.

Mr. Ta Minh Vang - Chairman of SLT, also shared that SLT is expanding cooperation with major financial institutions with a vision of applying technology to jointly provide effective payment and financial utilities for port enterprises, shipping lines, import-export enterprises, and forwarder companies.

We are pleased to accompany and cooperate with BIDV in transforming the port business sector from a traditional model to a digital model.

On November 29, 2023, BIDV partnered with IBM - a leading global technology corporation, to launch the BIDV Open API system and pioneer the open banking business model in the Vietnamese market. The BIDV Open API has made a significant impact on the market; after just six months of implementation, BIDV received over 240,000 API calls through the sandbox, nearly 600 trial accounts, and more than 100 partners registered for integration. BIDV’s integrated banking services have been and are being widely disseminated on sales management platforms, supermarket management, hotel management, cash management systems (CMS), enterprise resource planning (ERP) platforms, and many other software/applications in various economic sectors.