BIDV chooses Surecomp for digital trade finance transformation

Finance trade partner Surecomp has formed an agreement with Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) to implement a new end-to-end trade finance solution.

US-based Surecomp’s DOKA-NG and allNETT solutions will support the ongoing growth and digitisation plans of BIDV, who is Vietnam’s largest bank by total assets.

The banking solution provider was chosen for the digital transformation based on its “rich solutions”, “track-record of success with similar projects” and “commitment” to its clients.

“We have been impressed by the selection process and the professionalism of the BIDV team,” says Surecomp’s president Eyal Hareuveny. “We are honoured to have been selected. DOKA-NG and allNETT will enable BIDV to expand the trade finance market in Vietnam.”

Hanoi-based BIDV was the receiver of the latest large investment by a South Korean firm in the Southeast Asian country. South Korea’s Hana Bank agreed to buy a 15% stake in the bank, with a deal value of $874 million.