VCBS utilizes SAVYINT eContract for thousands of individual customers opening securities accounts

By leveraging SAVYINT eContract, Vietcombank Securities Company (VCBS) has successfully enabled individual customers to open securities accounts quickly and securely through an electronic Know Your Customer (eKYC) process. This solution ensures high legal compliance and security standards, eliminating the need for customers to visit physical transaction offices. 

VCBS and the challenge of digitalizing the electronic contract signing process 

VCBS is a wholly-owned subsidiary of Vietcombank, with 23 years of establishment and operations in the market. Leveraging the prestige, brand reputation, capital resources, and extensive network of Vietcombank, VCBS has developed a wide range of integrated financial services, including securities brokerage and corporate financial advisory. 

In recent years, VCBS has aimed to expand its customer reach nationwide, covering all provinces and localities, without requiring in-person transactions at physical branches. 

At the same time, the electronic contract signing process must ensure legal compliance, security, and high reliability, optimizing transaction workflows and enhancing customer experience. Addressing this challenge is essential for VCBS to successfully digitalize its contract signing processes and customer interactions in a fast and efficient manner. 

SAVYINT – A leading expert in digital signing and electronic storage in Vietnam 

SAVYINT has consistently ranked among the Top 10 cybersecurity and information security enterprises in Vietnam for many years. Beyond providing Public Digital Signature Certification Services under the TrustCA brand, SAVYINT also offers Timestamping Services (SAVYINT Timestamp) and Qualified Trust Service Provider (QTSP) solutions for digital signatures and electronic seals. Notably, SAVYINT is the only provider in Vietnam offering a QTSP Remote Signing solution. 

SAVYINT deployed the eContract solution for VCBS’s individual customers: 

• Secure digital signatures provided by SAVYINT utilize multi-factor authentication to verify the signer’s identity. 
• Timestamping is connected to the national time source and embedded with the digital signature to prevent repudiation of the signing time and ensure document integrity, detecting any modifications made after signing. 
• Electronic Know Your Customer (eKYC) process is used to issue digital certificates for each customer, ensuring secure and legally valid contract signing. 

Investors can easily sign electronic contracts online via the VCB Digital mobile application without the need to visit a physical branch. 

Successful expansion of VCBS’s individual investor reach 

By leveraging SAVYINT eContract, VCBS successfully reaches 5,000 – 6,000 individual investors per month looking to open accounts. Additionally, nearly 2,000 new accounts are successfully activated for investors to start trading. As a result, VCBS can rapidly enhance operational efficiency, seamlessly meet customer demands, and ensure high legal compliance and security in all transactions.