SEOUL, South Korea--(BUSINESS WIRE)--Webcash Global Co., Ltd. (CEO Lee Sil-Kwon) announced that it has launched an Electronic Financial Service in collaboration with Woori Bank Vietnam (CEO Park Jong-il).
The two companies held a ceremony to celebrate the launch on July 9 at the Lotte Hotel in Hanoi. It was attended by 30 key officials, including Lee Sil-Kwon, CEO of Webcash Global Co., Ltd.; Park Jong-il, CEO of Woori Bank Vietnam; Choi Joo-ho, Head of Samsung Electronics Vietnam Branch; Sang-ki Yoon, Finance Minister of the Embassy of the Republic of Korea in Vietnam; and Joo Seong-woo, Director of the Financial Supervisory Service.
The Electronic Financial Service, developed by the two companies to innovate financial services for Vietnamese corporate customers, is the fruitful result of the MOU signed in April between Webcash Global and Woori Bank Vietnam.
The service features a real-time connection between the company's internal systems and Woori Bank Vietnam to enable customers to access the bank's financial information, including bank account and corporate card transaction details, real-time transfers, and exchange rates.
Corporate customers can obtain comprehensive financial information from Woori Bank Vietnam, as well as General Department of Taxation data, through a single integration with Webcash Global's electronic financial service center.
Depending on the size of the company implementing the service, the two companies also plan to offer B2B fintech platforms, such as △ WeBill365, an easy billing and payment solution, △ WABOOKS, a Vietnam-specific expense management solution, and △ WeTax, an electronic tax invoice issuance solution.
Both companies expect that the electronic financial services will maximize work efficiency and drive business innovation for Vietnamese firms by automating fund flows and business processes.
Lee Sil-Kwon said, "This launch marks a historic milestone for Webcash Global, showcasing our exceptional B2B fintech technology in the Vietnamese market. Developed with a focus on customer feedback, the service promises to revolutionize work processes for Vietnamese business managers."
Park Jong-il said, "In partnership with Webcash Global, we're committed to delivering convenient and innovative electronic financial services to Vietnamese corporate customers. As a comprehensive financial solution provider, we'll ensure reliable support for their needs."
