Woori Bank Signs MOU with Vietnam's Sen Group to Expand Digital Financial Services

Lee Jong-in (right), head of Woori Bank Vietnam branch, is taking a commemorative photo with Nguyen Quynh Mai (left), CEO of Cen Home, a subsidiary of Cen Group.

[Asia Economy Reporter Kim Hyo-jin] Woori Bank announced on the 3rd that it has signed a business agreement with CEN Group, a listed Vietnamese real estate investment company, to meet the diverse financial needs of Vietnamese consumers.

CEN Group is a Vietnamese real estate sales and investment company with nine subsidiaries. This agreement was made to expand customer financial services with the group's representative subsidiaries such as Cenhomes (real estate sales), Cengolf (golf course reservations), and Cenxpace (shared offices). They plan to jointly provide services including the establishment of a virtual account-based electronic financial system, linking the 'Woori WON Banking Vietnam' app with CEN Group subsidiaries' applications, and financial product partnerships such as mortgage loans.

Woori Bank Vietnam established mobile-specialized financial services focused on customer convenience in March, including 'Easy Transfer' which allows remittance at once using registered transfer information, mobile loan applications, and motion banking that enables transactions by shaking the mobile phone. Through this partnership, the 'Woori WON Banking Vietnam' app will also allow users to access services such as real estate purchase and rental through Cenhomes and CEN Group, as well as golf course reservations.

A Woori Bank official stated, "Through this partnership between Woori Bank Vietnam and CEN Group, cross-marketing targeting each company's customers is planned, and attracting fund accounts from local group subsidiaries is expected." He added, "Since the digital transformation of Vietnamese consumers is considerably faster compared to other Southeast Asian countries, we will attract loan customers by expanding digital banking services and provide high-quality partnered financial services and convenience through 14 branches."

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