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14 Vietnamese banks listed among Asia Pacific’s strongest

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Fourteen Vietnamese banks have recently been named in The Asian Banker’s AB500 ranking and survey of Asia Pacific’s strongest banks in 2018.

Besides Vietcombank, Techcombank, BIDV, VietinBank, MB, LienVietPostBank, ACB, VPBank, HDBank, SHB, Sacombank, the 2018 list saw new names in Agribank, SCB and Eximbank.

Among the Vietnamese banks, Vietcombank led at the 29th spot in the ranking, up 19 positions from 2017.

Techcombank followed at 76th, up 25 spots.

Some banks made significant leaps in the 2018 ranking. ACB jumped 47 positions against the previous year, VPBank rose 77 positions, SHB was up 45 positions and Sacombank was up 133 positions.

The Asian Banker annually releases its AB500 ranking, an evaluation based on a belief that a strong bank demonstrates long-term profitability from its core businesses.

The study is a look at the financial and business performance of the commercial banking industry in the Asia Pacific region. The study produces two different lists: the first ranks the top 500 banks in the region by asset size, while the second ranks the same 500 banks by strength.

The Asian Banker ranks more than 700 banks from the Asia Pacific region and 300 banks from the Middle East and Central Asia. The focus of the list is on commercial banks and financial holding companies, with a significant proportion of activity in commercial banking.

The AB500 does not include central banks, policy banks, investment banks or finance companies that lack significant deposit-taking franchises or commercial lending businesses.

posted Feb 27 by Sanjay Rawat

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Dates: June 26 - 27, 2018

Venue: Park Royal Yangon Hotel, Myanmar

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                                                          VERIME AND MARITIME BANK

VeriMe is a Singaporean blockchain based verification-as-a-service platform that facilitates other organizations in easy and fast user authentication. The platform relies on the secure, high speed working of blockchain to give its clients a cheaper and unparalleled service, allowing them to concentrate on their core services and let VeriMe take care of the working behind the verification of customers or other services.

VeriME offers two types of services, namely D-KYC and D-Secure. D-KYC is a digital identity verification system that performs Know Your Customer background checks for institutions, requiring no hectic and tedious form filling and document submission. D-Secure is a payment authentication service designed form merchants and banks, allowing them to process customer requests with ease. D-Secure, like the KYC counterpart, does not require face to face meetings or heavy document filing.

Maritime Bank, as one of the largest banks in Vietnam, has a broad base of clients and handles a lot of transactions and new customers in a day. By partnering up with VeriMe, the bank’s user and payment verification system load is transferred to VeriMe. The quick services of VeriMe ensure that no matter how much the processing load from Maritime is, it can deliver the quickest of verification services. Maritime benefits a lot as verification time for its services will drop significantly.

Maritime Bank is not the first Vietnamese bank that has partnered with VeriMe. Previous partnerships with Military Bank and CFC exist, giving their combines 5,000,000 plus users an easy way to verify themselves and the online purchasing done by them.


VeriMe, as a blockchain platform, offers a many-fold increase in speed of verification of individuals and payment services by providing a cost effective, high level of data protection, document free and third party free system. Traditional procedures are slow and tedious, involving a lot of paperwork, inflexible rules, unsecure and money intensive. VeriMe does away with all the clutter and smoothes the experience.

VeriMe has already partnered with more than 30 organization around the world, providing services to more than 300,000 merchants and their respective consumers. The platform is in talks with ASEAN member country partners for expanding in other geographical locations.


The authentication and the verification process of the VeriMe platform is paid for through its its internal token, the VME. It has recently completed a successful token generation event with more than 106,500,000 VME grabbed by early investors. The event saw 1 ETH being traded for 3000 VME.

For more information about the Verification as a Service platform, visit their website

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Some money deposit banks have started the outsourcing of their payment gateway services to payment platform providers, in a bid to ensure efficient service delivery and focus on traditional banking services.

Banks in the country as part of their services provide payment gateway for merchants who sign up with them to be able to receive payment through point of sale terminal, internet among other electronic payment channels.

“Banks and other financial institutions need FinTech companies and Fintech companies cannot exist without Banks. It is a symbiotic relationship. The Banks and OFIs have the regulatory experience, operational expertise, business risk management and customer trust that have been built over decades and for some, even over a century.

“FinTechs bring the information technology agility and new business models, among other offering to enable Banks identify, grow and reach new market segment or serve exist ones at a low cost structure by using modern business computing platform to complement existing core banking platforms.

“FinTechs also serve as that research and development side of a bank to experiment with new products, services or solutions tailored to various segments without the need to modify stable and functioning core banking which are costly and risk prone.

“As more banks and FinTech see this relationship as a complementary rather that a competitive one, there will be more outsourcing agreements beyond payment that will be a win-win for both sides. This is assuming there is no desire for customer ownership and control, or holding store value (money) on the part of the FinTech, which are critical to the identity and functions of Banks,” he said.

Corroborating Ogungbade, James Agada, managing director, CWG, said that such arrangement will save banks from making further investment in technology as well as maintenance of the infrastructure.

“I see more of such arrangement coming in the industry. I don’t think any bank would want to stop the trend,” he said.

A payment gateway is a merchant service offering that is provided by a Payment Service Provider either directly to merchant or in partnership with a bank.

It was traditional required for e-commerce to enable a third party know as a Payment Service Provider to serve merchants who need to accept payments online so that such payments can authorize and processed for the merchant and the funds settled.

Since all funds have to end up in a bank at settlement, these payment gateways need to connect to a bank eventually, either directly or indirectly.

Relationships with Card Schemes, such as Visa or MasterCard can only be through a bank or at the introduction of a bank, at least for the initial first card scheme relationship to be established. This is because these schemes only have banks or OFIs as members.

Banks do incur fixed cost for establish card scheme membership so utility is key. There can be several business models and roles played by a FinTech acting as a Payment Gateway which depends on its agreement with its partner bank and its status with the Card Schemes.