Mobile banking app boosted on smart watches

Th u Th uy

While many banks are striving for multi-utility goals, some opt to push a multi-platform compatible with various smart devices.

Transactions such as money transfers, bill payment, mobile top-up and account inquiry can now all be completed via a simple touch on a smart watch worn on the wrist. This new technology from the Apple product offers maximum convenience for online banking users.

Standing diff erent

2019 marked a turning point of digitisation in the banking sector with the introduction of mobile banking apps, and banks considered it a key task in the increasingly strong race to attract and retain customers.

To date, nearly 80 percent of Vietnamese banks have introduced mobile banking apps for their customers. As well as providing basic features such as money transfers and online savings, 60 percent of the said banks’ mobile banking apps provide additional features including online shopping, mobile top-up, bill payments, QR pay, and train/air ticket booking. Customers no longer have to download multiple apps for different purposes because they can find all the functions they need in just one app.

While many banks are racing for multiutility goals, some are pursuing new

BIDV SmartBanking on Apple Watch is the latest tech product designed to enhance customer experience, while staying convenient and secure

directions like pushing a multi-platform compatible with different forms of smart devices. The banking app for Apple Watch is one such update that reflects the current technological trend of the banking industry.

A new l eap

A number of global banks including Commonwealth, CIBC and HDFC have implemented the smart watch app which features balance checking, ATM search and card-lock requirement. In Vietnam, VIB introduced the app MyVIB for Apple Watch which still poses some drawbacks and users of this app are not able to make financial transactions via the watch.

In a new push for the market, BIDV is set to launch its BIDV SmartBanking app on Apple Watch which comes with many outstanding features, allowing customers to perform even basic financial transactions right on their smart watches.

As well as allowing account checking, the app also integrates essential features such as transferring money to assigned beneficiaries, paying electric/water/TV cable/Internet bills and topping up registered mobile numbers. A virtual assistant has also been integrated into the app, enabling customers to use their voice to conduct bank transactions.

Enabling the app on an Apple watch is simple. Customers only need to pair their smartphone with the watch and follow the requirements for setting up the list of transactions on the app. The BIDV SmartBanking version on Apple Watch effectively supports the mobile app, maximising convenience for customers.

“BIDV SmartBanking on Apple Watch is the latest tech product designed to enhance customer experience, while staying convenient and secure,” said a representative of BIDV.

Recently, Viettel Telecom has provided an eSIM service on Apple Watch, allowing users to connect the watch with data telecommunication without connecting Bluetooth to an iPhone. This update will make it more convenient for customers to bank online without carrying a mobile phone.

According to a report from The Financial Brand, there are three major advantages of digitisation for banks. These include increasing customer experience, promoting the development of new products, and enhancing operational performance. BIDV SmartBanking on Apple Watch is an important update in the digital transformation process of the bank towards completing its mobile banking ecosystem.

Th an Hang

BIDV Pay+: Less risk, more benefits

The apps you install in your smartphone speak volumes about your style. BIDV Pay+ integrates modern payment technology with a user friendly interface, making it indispensable for BIDV customers.

Ca rdl ess cash withd rawal

This special feature of BIDV Pay+ allows customers to access their cash without the need for a physical bank card. BIDV Pay+ uses a QRcode platform and is installed on smart devices such as mobile phones or tablets, making cash withdrawals quicker and more convenient. Customers can make cash withdrawals at ATMs simply by using their smartphones.

Customers use BIDV Pay+ to withdraw cash at ATM

Easy paym ent via QRCode

Payment via QR Code is becoming increasingly popular in Vietnam. The app from BIDV allows you to scan your QR code for payment anywhere that shows the QR Code acceptance logo. Making payments via QR code enables customers to minimise the risks that come with using cash or cards and to save time on transactions.

Activ e card manag ement

BIDV Pay+ integrates a customer’s bank cards. With the app, customers can manage cash withdrawals and payments without needing a browser or other app. The integration of cards based on mobile platforms and state-ofthe-art technology allows information processing to be implemented quickly and securely, making it arguably the most secure method for accessing cash for individual customers.

From 17 February, BIDV Pay+ officially integrates international cards allowing customers to withdraw money from their card-linked accounts and giving more options for spending and payments.

BIDV Pay+ was honoured with the Outstanding Innovative Product 2019 award by Vietnam Banks Association (VNBA ) in cooperation with International Data Group (IDG) thanks to its modern technology and life-enhancing benefits.

BIDV Pay+ integrates a customer’s bank cards Payment via QR Code is becoming increasingly popular in Vietnam