2022 Winner – SC Vietnam Digital platform fit for 21st century gains recognition – Retail Banker International Asia Trailblazer Awards



Standard Chartered (SC) Vietnam won Best Retail Bank: Vietnam at the Retail Banker International (RBI) Asia-Pacific (APAC) Trailblazer Awards 2022 on 23 June for their digital first and customer- centric approach to banking. The bank’s imperative has been to put their customers at the core of everything they do. It offers a full range of retail banking services with affluent and wealth management services, cards, personal and mortgage loans and so forth in Vietnam.

However, in order to meet the increasing, rapidly changing needs of the Vietnamese customer, SC Vietnam has transformed into a digitally-led bank, through its own digital and remote banking channels, as well as by embedding itself within the rapidly developing financial services ecosystem in Vietnam through various partnerships. It has also shown great progress in the sustainability space, having launched several Green products.

The bank’s investments in digital banking solutions come amidst an understanding that Vietnamese (and global) consumers now require on-demand remote and self- service banking capabilities. The bank’s success with its digital offerings is proven by the fact that it has a digitally active portfolio with a 70% monthly usage rate and a 98% mobile penetration rate, all while 99% of its Consumer, Private and Business Banking (CPBB) client transactions are digitally initiated. This was of particular focus for the bank in order to continue seamlessly serving its clients during the COVID-19 pandemic.

SC Vietnam has also embraced partnerships as part of its evolution, leveraging existing technologies and providing the missing link in a fast-growing and highly regulated industry. Its first-in-market Entrustment Lending partnership with Home Credit, co-branded debit card and loyalty program with the national carrier, Vietnam Airlines, and digital payments solutions with Payoo, are just some such examples.

SC Vietnam has also made great strides in its commitments to driving Sustainable Finance in the retail banking space. It is the first bank in Vietnam to offer Carbon Neutral Cards as part of its global launch which will bring 450 tons of CO2eq (carbon dioxide equivalent) savings per year (the equivalent of 15 million plastic bags).

It is also among the first banks to launch Green Mortgages, with which comes preferential terms as part of the push to adopt Green buildings, and will be launching Green Auto Loans very soon