ACB upgrades international payment infrastructure, accelerates global connectivity

This activity is considered a strategic step to helpACB accelerate transaction processing, improve accuracy and expand global connectivity. This is not only a technological milestone, but also an important foundation to help ACB effectively accompany Vietnamese enterprises on the journey of integration and sustainable development.

Standardize payments, improve services, promote sustainable integration

ISO 20022 is a new generation of message format with the ability to transmit complete, clearly structured and uniform financial data, gradually becoming a common standard for the global payment system. ACB's conversion to the MX standard helps transactions to be processed faster, more accurately, and at the same time increases compatibility with international partner banks. This helps corporate customers save time, reduce verification costs and increase the success rate of transactions.

Not only does the new format bring clear benefits to customers, it also helps ACB optimize internal operations. The electronic payment system using ISO 20022 standard supports better risk control, especially in operations related to anti-money laundering. In addition, the rich and structured data source helps the bank improve the quality of reporting, analysis and data reuse in many areas such as product development, new service design, supporting faster and more effective strategic decision making.

According to ACB, the successful transition to ISO 20022 is not only compliance with a global standard, but also the beginning of an open, flexible and adaptable payment infrastructure for the digital future. ACB identifies this as the foundation for building more modern financial solutions, meeting the increasing expectations of customers and the market.

Ms. Sharon Toh, representative of SWIFT, came to congratulate ACB.

Be proactive, improve technology platform, ready for the digital future

As one of the few banks in Vietnam to complete the transformation ahead of schedule, ACB has demonstrated its proactiveness in embracing major changes in the global financial infrastructure. The transformation process was implemented in a systematic manner, with close coordination with internal departments, technical partners and correspondent banks, ensuring compatibility, security and uninterrupted customer service.

The early completion of the MX standard not only reflects ACB's technological capabilities, but is also a concrete step in the strategy of comprehensively upgrading payment infrastructure, supporting customers to transact more effectively in the context of increasingly deep internationalization. This is also part of the bank's long-term orientation to realize national policies such as Resolution 68 to accompany businesses, promote digitalization, improve competitiveness and enhance connectivity of the multinational economy .

Along with upgrading payment infrastructure according to ISO 20022 standards, ACB continues to expand digital experiences for corporate customers through online international money transfer services (Online International Payment) on the electronic banking platform.

This solution enables businesses to:

• Actively trade 24/7 , not limited by time or location.
• Track remittance status in real-time, minimize risk and optimize processing time.
• Save money with competitive rates and great deals.
• Enhanced security with multi-layer authentication system according to international standards.

The implementation of Online International Payment is part of ACB's strategy to comprehensively digitize international payment activities, helping businesses accelerate integration, improve operational efficiency and develop sustainably in the global business environment.

Source: https://nld.com.vn/acb-nang-cap-ha-tang-thanh-toan-quoc-te-tang-toc-ket-noi-toan-cau-196250729143743278.htm