The Vietnam Securities Depository and Clearing Corporation (VSDC) switching system automates business communication between custodian banks and securities companies. This solution improves processing speed, enhances accuracy and transparency in balance confirmations, and supports client transaction notifications. BIDV is the first domestic custodian bank to implement this system.

BIDV is among Vietnam's "big4" banks. Photo: BIDV

In its initial phase, the BIDV system processed over 3,000 communication messages. A bank representative stated that this result stems from close coordination between BIDV, regulatory agencies, and securities companies. This collaboration spanned from business analysis and solution development to practical implementation, ensuring compliance with technical standards and the overall development direction of Vietnam's securities market.

Currently, BIDV provides services to approximately 90% of fund management companies and over 55% of investment funds in the market, with total assets under custody (AUC) estimated at over 868,000 billion VND. The bank plans to continue investing in technology, maintaining its operational capacity and leading position among domestic custodian banks.

Minh Ngoc