Shinhan Bank Vietnam and Bizzi successfully held a launch event on June 16 for a corporate credit card integrated with an expense management platform, marking a pioneering milestone on the financial technology (fintech) roadmap.

Efficient spend management has become crucial for businesses in the increasingly complex and fiercely competitive business environment. Upon recognizing its importance, Shinhan Bank has cooperated with Bizzi, a pioneering technology company in expense management, and Visa to launch the first smart business card integrated with an expense management platform.

The new corporate credit card offers benefits from Shinhan Bank and integrates Bizzi’s technology to enhance spend management capabilities. Mr. Vu Trong Nghia, CEO of Bizzi Vietnam, said that as a technology company, Bizzi is proud to cooperate with major partners like Shinhan Bank and Visa in pioneering the launch of a fintech solution that facilitates financial management and control and makes B2B payments easier. “In this challenging economic period, when SMEs need working capital and operational cost optimization support, the integrated Bizzi-Shinhan corporate credit card with Bizzi’s expense management application is being introduced at the right time,” said Mr. Nghia.

According to Visa’s research on the payment behavior of Vietnamese consumers in 2021, the use of cash has declined compared to 2020, with 89 per cent of respondents stating they use e-wallets while 85 per cent use credit and debit cards. “Challenges are inevitable, especially in the Vietnamese market where business owners still maintain the habit of using personal cards for business operations,” said a representative from Visa.

Mr. Kang GewWon, CEO of Shinhan Bank, said that in intending to provide diversity in services to deliver the best experience to customers, Shinhan Bank has developed and expanded cooperation with Bizzi Vietnam to open up a new opportunity in accessing and supporting a financial service package specifically designed for business customers, especially small and medium-sized enterprises (SMEs).

The product’s launch targets the real needs of businesses. However, it will require overcoming challenges and the joint efforts of the Bizzi, Shinhan Bank, and Visa teams to succeed and grow.

The launch of the integrated corporate credit card with expense management platform by Shinhan Bank and Bizzi is a pioneering step in the fintech sector, demonstrating the development and application of technology in the banking industry.

With the potential for further development and expansion in financial markets, many businesses are sure to adopt the credit card to optimize their financial management. This will enhance business performance, ensuring stability and sustainability for enterprises.

Shinhan Bank and Bizzi have also planned future development to enhance the integrated corporate credit card with an expense management platform. Such vision and plans aim to meet the increasing demands of customers in financial and cost management. Bizzi is committed to continuously improving and enhancing products to meet customer expectations.