On January 24, Co-opBank piloted “Fast money transfer 24/7 at the counter” for its branches, transaction offices and PCFs in Nam Dinh, Hung Yen and Ha Tay. Accordingly, it aims to deploy the new service for other PCFs and Co-opBank branches. This has taken place following the launches of Co-opBank Mobile Banking app and the Co-opBank NAPAS Chip card within the policy of enhancing technology applications to support PCFs in digital transformation to achieve sustainable agricultural development and strongly promote non-cash payment services to customers in remote areas while improving the quality of payment products and services for the PCFs system.
Training “Fast money transfer 24/7 at the counter” for Co-opBank branches, transaction offices and PCFs
Based on the digital banking platform which is under the “Strengthening the People’s Credit Funds Network Project” (STEP) funded by the Canadian Government, combined with the Co-opBank’s current money transfer system (CF-eBank), the new 24/7 money transfer service at the counter will provide customers, especially PCFs, with modern, fast, safe, convenient and affordable banking services.
Through their payment accounts at Co-opBank, PCFs can use the fast money transfer service through customer’s card/payment account opened at Co-opBank; 24/7 fast money transfer via account: transfering money through a payment account at other banks in the Napas network; Fast money transfer 24/7 via card number: transferring money via card number at other banks in Napas network; PCFs can receive money from Co-opBank or Napas-member bank; PCFs members can receive cash from Co-opBank and other banks using their ID cards.
The Co-opBank 24/7 fast money transfer service at the counter have been reviewed safe and effective when PCFs can accurately check the exact match of the beneficiary’s name, account number and bank. In addition, PCFs can use Co-opBank’s overdraft facilities to perform money transfer transactions for themselves and their customers. This is an added support that Co-opBank has provided for PCFs.
The period of 2021 – 2025 is an important period that showcases Co-opBank’s brand image and role as the apex of the entire PCFs network with the application of modern technology and development of new services. Co-opBank’s Chairman Nguyen Quoc Cuong once shared that Co-opBank must focus on building a 2 in 1 bank – which on one hand plays the central role as the Bank of all PCFs while on the other hand operates as a commercial bank that can actively perform business activities, improve the quality of its services and implement digital transformation and application of modern technology for new products and services, human resources and operation management. In order to do that, Co-opBank will need support from the State Bank for its development of scale and activities to ultimately be self-sufficient in financial capacity, human resources and technologies.
