Vietcombank Remittance Company bags two int'l awards

Global Brands Magazine (GBM) is a prestigious U.K. online publication and forum for top brands of the global business community. The winners are selected based on commitments and efforts in the pursuit of outstanding values including: innovation, quality, increasing brand awareness, technology application, risk management, customer service, that promote the dynamic business environment of the remittance industry in Vietnam.

To meet the above criteria, Vietcombank Remittance Company (VCBR) has remarkably improved its operational procedures, diversified its products and enhanced its customer experience.

Dao Minh Tuan, deputy CEO of Vietcombank, chairman of the VCBR Board of Directors, said the two awards obtained from GBM magazine are a significant affirmation and recognition of VCBR's efforts and achievements in providing the best market service.

"To record such great achievements, thanks to the steadfast effort of the entire VCBR team, in providing the best service experience, building solid trust with customers and partners. However, VCBR will encourage further innovation in its business operation to work toward the goal of becoming the number one remittance company in Vietnam," he added.

Vietcombank Remittance Company (VCBR) received the "Excellence Money Transfer Company " and "Best Home Payment Service Provider" awards. Photo by VCBR

VCBR was established in 2017 with the task of facilitating remittances from abroad to Vietnam, supporting the ecosystem of Vietcombank's products and services.

Vietcombank has set its vision and strategic objectives toward 2025: Maintaining its position as the No. 1 retail bank in Vietnam and becoming one of the 100 largest banks in Asia; one of the 300 largest banking and financial groups in the world and finally one of the 1,000 largest listed companies in the world.

The Covid-19 pandemic has had a dire impact on the global economy in the last two years. A huge number of companies have been forced into bankruptcy, and the unemployment rate has reached a record. The pandemic also had a serious impact on money transfer and remittance activities.

In Vietnam, remittance companies constantly had to narrow the scope and scale of their operations. Under the circumstances, VCBR has proactively adapted to the chaos along with encouraging innovation, ensuring safe business performance, profitability and high efficiency.

VCBR has improved its operational procedures, diversified its products and enhanced its customer experience. Photo by VCBR

According to Nguyen Hoang Minh, Deputy Director of State Bank of Vietnam Ho Chi Minh Branch, the flow of remittance to Ho Chi Minh city By the end of November is about $6.2 billion, which has already surpassed the volume of 2020 at $6.1 billion. VCBR has achieved striking growth in terms of volumes with a forecast of an over 60 percent increase compared to 2020, ranking among the top 2 remittance companies in Vietnam.