Bankograph Financial Group announced that it is entering into the next phase of its existing card processing partnership with National Citizen Bank (NCB) where it will power third party credit distribution delivery with its innovative, AI-driven risk management solutions to provide scalability in terms of distribution of credit and asset servicing.
Bankograph ties up with NCB to not only extend the latter’s business network and potential customer data but also complete procedures, optimise credit products to make them more accessible and affordable for customers on the back of the existing operating Master Service agreement.
NCB, with innovation as one of its core values, sees the need to bring digitally-optimised financial solutions to retail customers for each of its product segments, especially credit card business. The cooperation between NCB and Bankograph will extend NCB’s capabilities to become a significant credit card issuing financial institution in Vietnam.
Meanwhile, Bankograph is a financial and investment group, which owns and operates digital bankinassets and has developed an innovative third-party credit card management platform. It is committed to long-term cooperation with NCB and supports the development of its credit card operations, building a new customer base and a commercial agency system that connects NCB’s electronic payment service platform.
Bankograph Capital Management, a corporate finance advisory arm of Bankograph Financial Group will act as an investment adviser and placement agent of NCB to drive foreign direct investment to Vietnam by placing structured financial instruments with capital markets.
Alexander Gold, chair of Bankograph Financial Group, said, “We are very excited to enter into the next phase of our close relationship with NCB, one of the forward-looking banks in Vietnam. NCB is on the way to new heights and we are honoured that they have entrusted us with assisting them on their journey.”
By the end of the third quarter of 2018, there were 4.6 million credit cards issued in Vietnam with total trading value reaching approximately VND50 trillion ($2.17 billion), up 50 per cent over the same period of 2017. With more than 70 million adults and the fastest growth in both income and spending in the region, Vietnam is showing its potential as a lucrative credit card market.
