ZeroBank signs a Strategic Partnership with Bac A Money Transfer — a subsidiary of Bac A Bank
By: Zerobank - Your Local Currency
Tags: Technology, Blockchain, Remittances

We are excited to announce our partnership with Bac A Money Transfer on 12th June 2018. At the Memorandum of Understanding (MOU) session, there are top panel members from Bac A Money Transfer, including Mr. Le Ngoc Hong Nhat — Deputy General Director of Bac A Bank, member of Board of Directors Bac A Money Transfer;Mr. Chu Nguyen Binh — Deputy General Director of Bac A Bank and Mr. Chau Vinh Huy — Deputy Director of Bac A Money Transfer.

Under our partnership agreement, ZeroBank will be developing a non-commercial international money transfer application in iOS and Android operating systems, utilizing blockchain and smart contract technologies. Meanwhile, Bac A Money Transfer will be taking charge of testing and providing feedback for ZeroBank application and help improve our service. By joining partnership with Bac A Money Transfer, we will have the quality and functions of ZeroBank application optimized.

The signing of the agreement with Bac A Money Transfer shows our determination to achieve our goal in providing a world-changing money exchange and transfer service to solve the current problems within the cross-border money exchange industry.

Speaking about ZeroBank project, Mr. Chau Vinh Huy — Deputy Director of Bac A Money Transfer shared with us: “Applying blockchain technology in finance and banking industry is an indispensable trend across the globe and Vietnam is no exception to this trend. The application of blockchain technology can help cutting the cost effectively and improving security for banking system. Bac A Money Transfer is glad to cooperate with ZeroBank which is built and run by an expert team who are holding strategic positions at world-class finance and banking organizations as well as having extensive experience in IT banking. Our partnership will benefit both parties in finding the solutions to improve our service quality.”

Mr Chau Vinh Huy- Deputy Director of Bac A Money Transfer is speaking about the partnership with ZeroBank

ZeroBank is excited about this opportunity to improve our service quality and upgrade its security. Mr. Nguyen Nhu Nguyen — CFO of ZeroBank — responded to this event: “There’s no hassle working with Bac A Money Transfer and sharing with them about topics related to remittances. Our CTO, Mr. Bao Ly also shares his knowledges on banking management technology. Bac A Money Transfer is always open to new technology that’s why they’re looking forward to grow with ZeroBank project by signing MOU with the team. ZeroBank has an outstanding team with extensive experience in non-commercial money transfer. More than that, our core members are the super minds in the money exchange and remittance industry. They have been working at top international banking institutions yet still hungry to pursue higher goal of delivering better money transfer service for end users, especially for people living in Southeast Asia.”

*About ZeroBank:

ZeroBank provides everyone with a faster, more convenient and more secure money exchange and transfer method with minimal fee by applying blockchain technology, smart contract along with sharing economy model.

*About Bac A Money Transfer:

Bac A Money Transfer — a subsidiary of Bac A Bank which has more than 20 years of providing safe and trusted banking services for individuals as well as enterprises. Bac A Bank is the commercial joint-stock bank in Vietnam with the authorized capital stock up to 5,500 billions VND, after-tax profit reached 5,223 billions and 387 billions (VND) in 2017

Aiming for the position of top-leading bank by 2020, Bac A Bank is the pioneer in investment and consulting for a generation of sustainable development enterprises, along with high technology applications in agriculture, social security projects. Bac A Bank also has been honored multiple times with certificates of merit as well as won many other prestigious international awards:

Emulation flags of the Government

Vietnam Outstanding Banking Awards 2017

Excellent Business Service Award 2017

Best Bank in Sustainable Development for Community 2015–2016 (Vietnam Outstanding Banking Awards)

Best Corporate Social Responsibility Bank of Vietnam 2016 (by International Finance Magazine (IFM))

Best Innovative Products 2016

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