PTI and Shinhan Finance announce its MOU on comprehensive partnership

Ho Chi Minh city, 26/04/2021 - Post and Telecommunication Joint Stock Insurance Corporation (PTI) and Shinhan Vietnam Finance Company Limited (Shinhan Finance) have announced that an agreement has been signed between PTI and Shinhan Finance to establish a comprehensive partnership to better meet the growing financial and insurance needs of the local market.

We build up the partnership to ensure we can jointly respond to consumer demands, and pool our customer, product and technology expertise, to transform the way we serve our shared customer base.

Provided with more and more financial service customers embracing digital channels, the two companies have prioritized to create integrated, open standard digital platforms that enable seamless customer experience and referrals and smoother data collection and analysis.

This will be in return to increase customer satisfaction and customer loyalty, as well as economically beneficial - for all participants. This is what the future of our partnership will look like with customer centric approach – a digitalization journey, where modern day consumers will be offered personalized and meaningful cover, delivered in a seamless manner.

Recently, Post and Telecommunication Joint Stock Insurance Corporation (PTI) is one of the three largest non-life insurance companies in Vietnam. PTI is an enterprise that always maintains consistently high growth, affirming its place as the NO.1 leading company in the market in motor vehicle insurance, TOP 2 in human insurance.

Determining technology will always be the decisive factor for how the enterprise develops, PTI has constantly in developing products as well as applying technology to offer customers with the best experience.

With these achievements, PTI honored to receive the First Class Labor Medal and many important certificates of merit from state management agencies such as: Certificate of Merit from the Prime Minister, Top 100 Vietnam Gold Star Award, Award for effective digital technology application in insurance, Award for Excellence Digital Transformation Enterprise.

In particular, PTI has received the Certificate of B++ financial capacity rating from the world's largest financial credit rating agency A.M.Best and is also an enterprise that Vietnam Report cooperates with other Professor Harvard University - US ranked as TOP 500 Vietnam's largest enterprises (VNR500)...

Shinhan Vietnam Finance Company Ltd. (Shinhan Finance), a member of Shinhan Card (Korea) – a fully foreign owned consumer finance company officially operates with Shinhan Finance brand name since July 2019. With Shinhan Card’s know-how in financial products and nearly 15-years-experience of the Company in Vietnam consumer lending market, Shinhan Finance will be the best customer-oriented Finance Company in Vietnam.

The Company will continue to develop our strength, improve service quality as well as ensure credit management quality and risk management, committing to become a transparent and reliable financial company in the Vietnamese market with the business philosophy: Be “the best” company rather than “the-most-profitable”.

The Company was recognized and named The Best Sustainability Development Company Vietnam 2020 by Global Banking & Finance Review and United Kingdom and The Best Consumer Finance Company For Customer Service 2018.

Mr. Bui Xuan Thu, CEO, PTI, said: “The comprehensive cooperation with Shinhan Finance affirms PTI's relentless efforts to diversify products and distribution channels, to best meet the needs of customers through attractive value-added services. I believe that with the strengths and experiences of Shinhan Finance in microfinance products, the cooperation between the two sides will be prosperous in the near future”

Mr. Oh Taejoon, General Director, Shinhan Finance, said: “We are delighted to partner with PTI, one of Vietnam's leading insurance providers. We share an aspiration to create new experience, new value through digital transformation to offer more comprehensive and effective financial solutions to our customers. Our partnership with PTI is fully aligned with our mission of helping individuals and communities in Vietnam build better lives and a financially secure future and we are excited by its growth prospects.”

To boost growth, we set a focus on three digital elements: boosting personalization by making the most of real time data and analytics, tapping the potential of digital to offer superior customer service, and mastering the omnichannel synchronization.