AIA Vietnam partners with Public Bank to enhance benefits to retail customers AIA (Vietnam) Life Insurance Company Limited and Public Bank Vietnam Limited have signed a strategic bancassurance partnership. With the message “Finance in your hands,” the two companies will collaborate to bring extensive financial-insurance solutions to improve customer experience. Wholly foreign-owned by Public Bank Berhad—one of the leading banks in Malaysia—, Public Bank Vietnam is one of the few banks who have been successfully delivering sustainable results in Vietnam. Recently, AIA Group has signed a 15-year extension to their strategic partnership with Public Bank until 2037. Under the partnership, Public Bank Vietnam’s customers will enjoy full-scale life insurance products and services as well as extensive benefits from AIA Vitality, a scientific initiative from AIA Vietnam. AIA Vietnam will also provide advanced digital tools, such as iPoS, an interactive platform … [Read more...] about AIA Vietnam partners up with Public Bank to benefit retail customers
Banking
SCB sets up partnership with three Hong Kong banks
Saigon Joint Stock Commercial Bank (SCB) signs a strategic agreement on comprehensive and long-term cooperation in banking with three banks from Hong Kong. (Photo: congan.com.vn) Hanoi (VNA) – Saigon Joint Stock Commercial Bank (SCB) has signed a strategic agreement on comprehensive and long-term cooperation in banking with three banks from Hong Kong. The deal was inked during an investment promotion event held by the Vietnam Chamber of Commerce and Industry (VCCI) in coordination with Hong Kong Trade Development Council (HKTDC) in Ho Chi Minh City on August 20. Under the agreement, SCB and three Hong Kong banks – Hang Seng Bank Limited, Chong Hing Bank Limited and The Bank of East Asia Limited – committed to exchanging experience in investment and financial management, increasing business relations and making research and investment, particularly in providing credit to local and foreign enterprises. Earlier at the event, all four banks inked a cooperation … [Read more...] about SCB sets up partnership with three Hong Kong banks
Trump’s ex-campaign chief Manafort found guilty of tax, bank fraud
File photo of Paul Manafort arriving for a hearing at US District Court on June 15, 2018 in Washington, DC. (MANDEL NGAN/AFP) The guilty verdicts on eight counts are a victory for special counsel Robert Mueller's investigation into Russian election interference and possible collusion between the Trump campaign team and Moscow. Trump, who has repeatedly maligned the Mueller probe, views it as a stain on his presidency and has pushed for it to be ended, described Manafort's conviction as "very sad." US District Judge T.S. Ellis declared a mistrial on 10 counts on which the jury was unable to reach a unanimous verdict. But the jurors found Manafort guilty of the remaining eight counts: five of making false income tax returns, two of bank fraud and one of failure to report foreign bank and financial accounts. While the 69-year-old Manafort could theoretically live out the remainder of his years in prison as a result of the convictions, a legal expert told AFP that his time behind bars … [Read more...] about Trump’s ex-campaign chief Manafort found guilty of tax, bank fraud
Impacts of revolution 4.0 on banking sector
The win-win co-operation and the resonance strength between the banks and fintech companies is the main development trend in the financial market and Vietnamese banks today. — Photo sbv.gov.vn The revolution of technology 4.0 has fundamentally changed the business and management model of banks. The State Bank of Viet Nam (SBV) in collaboration with the Ministry of Planning and Investment and the Ministry of Science and Technology organised a workshop on applying science and technology in the financial sector as part of the “Connecting Viet Nam Innovation Network 2018”. Speaking at the opening ceremony, Deputy Governor of the State Bank Nguyen Kim Anh said that the banking sector was not outside the influence of the industrial revolution 4.0. In order to catch up with the development of science and technology, Vietnamese banks had researched and invested in their products, services, operations and governance.The most prominent was the practical deployment of digital … [Read more...] about Impacts of revolution 4.0 on banking sector
Industry 4.0 has positive impacts on Vietnam’s banking sector
The Hanoitimes - The Industrial Revolutionary 4.0 has fundamentally changed the business model and managed banks following the digital banking trend. Advances of the Industrial Revolution 4.0 play an important role in the practical application of banking practices from an international perspective and Vietnam’s reality. The State Bank of Vietnam (SBV), the country's central bank, is aware of the importance, potentials and strong impact of science and technology on banking activities, said Deputy Governor of SBV Nguyen Kim Anh at a seminar in Hanoi on August 21. The bank has actively implemented many activities in the sector, aiming to carry out the tasks under the Prime Minister's directive on strengthening the access capacity to the Industrial Revolution 4.0, he added. The seminar on “Development and application of scientific and technological achievements in the banking sector” was held by the SBV in collaboration with the Ministries of Planning and Investment, … [Read more...] about Industry 4.0 has positive impacts on Vietnam’s banking sector