11:15:08 AM | 11/16/2023
Shinhan Bank Vietnam Limited (Shinhan Bank Vietnam) and MISA Joint Stock Company (MISA) have signed an agreement to collaborate on the deployment of digital financial solutions to support businesses' regular loan process for financial stability, serving production activities, and company expansion.
Shinhan Bank Vietnam and MISA, in particular, have committed to collaborate in developing loan support programs for the small and medium-sized businesses (SMEs) community via the MISA Lending Platform. The platform will serve as an intermediary, by linking businesses that are having issues getting funds with a network of Vietnam's major renowned banking partners.
Customers who use MISA's accounting and electronic invoice software can thereby borrow 100% online through the MISA Lending platform without collateral, maximizing time and resource savings. The platform's loan process takes only 5 minutes, reduces approval time, and has an 8-times greater loan success rate than traditional lending. With this collaboration, the two parties hope to be able to address the need for SMEs to supplement working capital with a maximum of up to VND 2.2 billion, competitive interest rates and free capital withdrawal and early repayment fees.
Mr. Nguyen Xuan Hoang, Vice Chairman of the Board of Directors of MISA, stated: "The cooperation between MISA and Shinhan Bank Vietnam is a meaningful milestone, contributing to the introduction of new digital financing solutions to customers, addressing the problem of capital scarcity for the majority of SMEs. MISA pledges to collaborate with Shinhan Bank Vietnam to use and enhance each party's strengths. From there, we hope to improve the customer experience and develop accessible solutions to assist businesses in confidently increasing resources in order to capitalize on business prospects."
Mr. Jung Kyung Won, Deputy General Director of Shinhan Bank Vietnam stated, “The collaboration between Shinhan Bank Vietnam and MISA reflects both parties' combined efforts to improve customer experience, particularly for SMEs - one of our major customer segments. Deploying digital financial solutions on the MISA Lending platform will allow SMEs to conveniently acquire loans, have more flexible procedures, and save time when compared to traditional lending processes. Shinhan Bank Vietnam is collaborating with MISA, one of the most recognized digital financial solution providers in Vietnam, to promote the goal of full digital transformation, offering customers with the outstanding and long-term value.”
The signing ceremony of the cooperation agreement between MISA and Shinhan Bank Vietnam is an essential step in the two parties' cooperation journey, boosting synergy and delivering businesses convenient digital financial solutions. We intend to continue exploring and expanding the scope of our collaboration in order to maximize potential and improve customer experience in the future.
Anh Mai (Vietnam Business Forum)
Vietnamese
