Vietnam successfully applied Big Data &AI to register credit cards online within 30 minutes

Vietnam International Bank (VIB) has officially announced to be the first bank to successfully apply Big Data & AI into credit card technology with an upgrade to fast online approval within 30 minutes. This technology has been successfully applied for VIB Online Plus credit card. This is a credit card specialized for online shopping with up to 6% cashback on online transactions and free insurance for fraudulent card transactions up to 105 million / year.

 “Applying Big Data and AI into card issuance is a big project with much enthusiasm. Accompanying Trusting Social - a fintech company using leading machine learning and AI technology in Vietnam on the basis of the relevant laws, we have belief that the project will completely change the experience of customers and bring a breakthrough in cashless payment technology in Vietnam. After Online Plus, we will continue to expand the project to other banking products and services. We expect that in the next 3 years, there will be millions of Vietnamese customers who have the opportunity to experience great things from the project: no need to visit a branch, no call center, just smart phone or computer and filling in information within 5 minutes with all the modern technology support that VIB and Trusting Social are developing, customers will immediately have a credit card with a limit of up to VND 200 million. ” Head of Retail Banking cum Head of Strategy Ms. Tran Thu Huong shared about this event.

Less than 30 minutes and completely online credit card approval process

VIB formerly applied credit card approval procedure with support from Big Data and AI from January 01/2020. After 6 months of pilot with many improvements, the process has been optimized, allowed users to register credit card only with their computer or their phone without providing income proof, no need to visit bank branches; and get card approval within 15 to 30 minutes if the bank's criteria are met.

Specialized credit card for online shopping

Online Plus is designed exclusively for the new generation users. Accordingly, the implement of new technology allows the process of card issuance for only 15 to 30 minutes and completely online will create new trend for users who always want to experience new things and want to meet their needs instantly. At the same time, those who love shopping online will find a good deal of the cash back up to 6% on online transactions. Besides, the optimal security technology and the card fraud insurance package will help users feel secure during spending.

In addition, VIB Online Plus in particular and VIB credit cards in general are applied the most advanced technologies via E-banking and MyVIB application. Users can activate their cards, lock / unlock online transaction features, easily change PIN password and conveniently redeem on mobile phone without contact call center or go to VIB branch.

With this groundbreaking technology, VIB said it will constantly research and apply preeminent technologies, features to stay pioneering in creating a new trend of credit cards, and contribute to the transition of cashless society in Vietnam at the same time.

Hot deals

From now until August 15, 2020, VIB new credit card users will receive cash back of up to VND 1.5 million. In addition, customers can enjoy the 0% interest installment and up to 50% discount at hundreds of large partners nationwide. Accordingly, VIB credit cardholders are receiving many exclusive perks such as: VND 200,000 discount for invoices from VND 1.2 million every Saturday & Sunday at Shopee; Discount of VND 50,000 on invoices from VND 300,000 at TIKINGON; VND 500,000 off invoices from VND 10 million at Nguyen Kim; 35% discount up to VND 100,000 for all trips on Be app; 10% discount up to 1 million  for Viettravel domestic tours; 30% discount up to 300,000 VND at Hoang Yen, San Fu Lou, Sorae Sushi, Sushi Tei restaurants; 0% interest installment at Shopee, TIKI, Lazada, Sendo, Nguyen Kim, FPT, PNJ, Kymdan, Vietnam Australia International School System, Apax Leaders, VUS, Kindy City Kindergarten System and when booking tickets on Vietnam Airlines and Bamboo Airways websites.