Banks seek partnerships at international financial conference

10:48 | 15/10/2015 Finance - Banking

Six Vietnamese commercial banks are attending the Swift International Banking Operations Seminar (Sibos) 2015 which kicked off in Singapore on October 12.

Banks seek partnerships at international financial conference

The booth of Vietnamese banks in Sibos 2015's exhibition. (Photo: VNA)

Representatives from Vietcombank, BIDV, Vietinbank, Eximbank, SHB and Pvcombank are among the 7,000 business leaders, decision makers and experts from a wide range of financial institutions, multinational corporations and technology firms taking part in the event this year.

Sibos, a conference, exhibition and networking forum for the financial industry, is organised annually by the Society for Worldwide Interbank Financial Telecommunication (SWIFT), a global provider of secure financial messaging services in the areas of payments, securities, cash management and trade.

Nguyen Thi Huong from the State Bank of Vietnam said it is a great opportunity for Vietnamese banks to access new banking products and services, as well as promising new partners.

Nguyen Trong Khoa, director of Vietcombank’s payment centre, said the bank is looking for new partnerships and hopes to learn firsthand about the latest payment solutions and trends from the United States and Europe at Sibos 2015.

According to VIETSWIFT, Vietnam ranked 58 th out of 210 SWIFT users worldwide, and saw its traffic grow 14 percent last year to approximately 10 million of sent and received messages. Of the figure, payment messages accounted for 74 percent, followed by overseas transfer messages that made up 9.64 percent.

Sibos 2015 is focusing on financial market infrastructure, cloud computing, network security and the application of ISO 20022, a new standard for electronic data exchange between financial institutions.

Attendees will also discuss business strategies and networking, while collectively shaping the future of the global financial industry.

The exhibition in the Sibos framework has brought together around 200 financial institutions, application and middleware vendors, system integrators, consultants and central clearing systems from around the world./.

Source: VNA

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