Banknetvn Switching System – Connecting Successfully!

After 8 months of implementation, the Project “Establishing Banknetvn Switching System” with the aim at connecting ATM networks of Vietnam banks has reached good results. At present, 3 banks has been connected to the System, namely Bank for Investment and Development of Vietnam (BIDV), Idustrial and Commercial Bank of Vietnam (ICB), Saigon Bank for Industry and Trade (Saigonbank). In order to bring this very new service to the cardholders all over the country, Vietnam National Financial Switching Joint-Stock Company has decided to launch the Banknetvn Switching System on 21 April 2007.

With the lauching of the System, after 21 April 2007, cardholders of BIDV, ICB and Saigonbank can use their cards to perform transactions such as cash withdrawal, balance inquiry, mini statement and funds transfer at any ATM terminals of the three banks. With the connection to Banknetvn Switching System, member banks can share and expand their ATM networks, creating many utilities for cardholders by making it more convenient, helping them save time and efforts in using their cards.

In order to use Banknetvn’s switching services, cardholders will have to pay a certain fee for each transaction depending on the type of the transaction. Transaction fee schedule is being set up by Banknetvn with the consultation of member banks. However, the fee will be reasonable, acceptable in comparison with the utilities that Banknetvn Switching System brings to the customers.

The successful implementation of Banknetvn Switching System is the result of efforts of not only staff of Vietnam National Financial Switching Joint-Stock Company but also those of member banks as well as the Switch Vendor – Joint venture of FIS-Makeena-eFunds. That is because Banknetvn Switching System must allow transactions of all card types of all different member banks while card and ATM system of each bank was set up differently and contains many differences. In order to meet common technical specifications, member banks have to customize relevant components of the system which is already in opreration. During the project implementation, all joining people have contributed their best efforts actively, enthusiastically with high responsibility to bring the best to the customers. The slogan that is always in the mind of the ones who implement the Project “Establishing Banknetvn Switching System” is “Connecting successfully”. This is not only the objective but also the expectation of Banknetvn, member banks and Joint venture of FIS-Makeena-eFunds to connect the success of customers so that this starting success will be basis for the next successes …

04/04/2007.
Vu Thi Thuy