Woori Bank Launches Renewed Mobile Banking App in Vietnam

[Asia Economy Reporter Kim Hyo-jin] Woori Bank announced on the 31st that it has launched the global version of the 'Woori WON Banking' application (app), called 'Woori WON Banking Vietnam,' following the app opened in August last year to promote growth in retail business centered on non-face-to-face channels.

'Woori WON Banking Vietnam' offers customer convenience-focused mobile specialized financial services such as ▲ 'Easy Transfer,' which allows remittance at once using registered transfer information ▲ continuing product subscription ▲ motion banking that enables transactions by shaking the mobile phone.

Additionally, Vietnam Woori Bank plans to target the local retail financial market by launching mobile-only products, including a parking deposit that offers high interest rates even for just one day and a credit loan product applying an automatic loan approval process. In particular, for the mobile credit loan service, it established a personal credit evaluation model last July by analyzing credit information from the Vietnam National Credit Information Center (CIC) and telecommunications company data using artificial intelligence machine learning technology.

A Woori Bank official said, "With the increase in smartphone penetration in Southeast Asia and the implementation of digital finance activation policies by local financial authorities, digital finance is expected to grow rapidly," adding, "Starting with Vietnam, we plan to expand the 'Global Woori WON Banking' service to countries where our bank has entered, such as India and Bangladesh."

This content was produced with the assistance of AI translation services.