This event has made VPBank the first domestic bank to allow corporate customers to actively monitor foreign exchange rates in real time, negotiate and close transactions directly on the VPBank NEOBiz Plus digital platform.
The platform is designed to target the core user group of the business such as business owners, Chief Financial Officers (CFOs), Chief Accountants and Financial Management Officers - those who make decisions based on market data and value proactiveness and accuracy.
VPBank Forex provides comprehensive & flexible foreign currency trading product solutions including Spot Foreign Exchange Trading (Spot); Forward Foreign Exchange Trading, and will add the Foreign Exchange Swap (Swap) feature with 15 pairs of popular currencies in the currency market, meeting the regular import and export payment needs of businesses.
In practical operation, foreign currency transactions of businesses are often associated with many manual steps such as contacting to ask for prices, waiting for quotes, exchanging - confirming back via email or phone before completing the transaction. This process can be lengthy, making it easy for businesses to miss the "golden point" of closing the exchange rate, especially when the market fluctuates rapidly.
Starting from that practical need, VPBank Forex is the platform to solve all the "stuck points" of businesses when trading foreign currency. Instead of relying on loose exchange channels or manual procedures, businesses can conduct foreign currency transactions directly on a digital platform: From monitoring the exchange rate in real time to closing transactions immediately when the exchange rate meets expectations - without generating manual confirmation steps after the transaction. Thanks to that, the processing time is shortened from many hours to only a few minutes, while helping to minimize the risk of price slippage due to waiting and increase proactiveness in financial decisions.
VPBank Forex is also directly integrated into the VPBank NEOBiz Plus enterprise digital banking platform, allowing customers to use the Single Sign-on mechanism to manage diverse financial needs from cash flow, payments to foreign currency transactions. This integration helps VPBank Forex become a strategic piece in VPBank's enterprise digital banking ecosystem, bringing a unified, seamless and convenient experience.
The launch of VPBank Forex continues to affirm the customer-centered orientation, and at the same time demonstrates VPBank's commitment to pioneering digital solutions to help businesses transact faster - more transparently - more efficiently.
VPBank representative emphasized:
VPBank Forex is a strategic step in the roadmap to comprehensively digitize core financial services for VPBank's corporate customers. We not only digitize foreign currency transaction processes, but also aim to give businesses proactive capacity - from accessing exchange rate data in real time to quickly, transparently and accurately closing transactions right on the digital platform. VPBank aims to accompany businesses to improve financial management capacity, adapt more flexibly and sustainably to the increasingly complex fluctuations of the market.
Representatives of VPBank also said that in the coming time, VPBank Forex will continue to develop new features to support businesses in hedging exchange rate risks, aiming to become a comprehensive digital foreign exchange trading platform, associated with the long-term financial management strategy of corporate customers.
In the trend of businesses prioritizing decision-making speed and data transparency, VPBank Forex is expected to become an important piece in VPBank's digital ecosystem, supporting businesses to optimize operations and manage exchange rates more effectively.
