Maritime Commercial Joint Stock Bank of Vietnam (HoSE: MSB) and Solv Vietnam Co., Ltd. (Solv) – a B2B electronic platform for small and medium-sized enterprises – have signed a comprehensive cooperation agreement on March 29, 2023, to provide business support solutions, increase benefits in e-commerce transactions, and help businesses easily access capital. MSB is Solv’s first financial partner in Vietnam.
Solv is a leading B2B e-commerce platform in India that helps businesses connect with new customers and suppliers, buy and sell products at wholesale prices, utilize on-demand credit, easily place online orders, and receive delivery.
Through this cooperation, MSB and Solv commit to providing optimal solutions for their target customer group, including distributors and agents, through the systems/platforms of both parties. When using the Solv platform, customers can access credit support packages and online disbursement features provided by MSB based on information provided by the center enterprise (Anchor) and distributors and agents.
MSB will evaluate and approve credit limits based on transaction volumes between distributors, agents, and center enterprises. The combination of MSB and Solv will provide comprehensive service products to meet the needs of customers and support customers to have the best experience when transacting on the Solv and MSB platforms.
This cooperation is based on the foundation of MSB’s extensive experience in implementing supply chain financing programs, scoring models, and integrated systems. With a well-established digital platform, MSB has the digital resources to automate connections with the Solv platform, promoting flexible and easy customer connections and thereby meeting the needs of businesses quickly.
To maximize convenience and experience for businesses, MSB has built a Supply Chain Finance digital platform to support the integration and synchronization of information exchange flows between Solv and MSB in an automated and highly secure manner.
Speaking at the signing ceremony, Mr. Nguyen The Minh, Deputy CEO cum Head of Enterprise Banking of MSB, said: “With the cooperation of MSB and Solv, the combination of B2B e-commerce platform and financial organization not only increases business expansion opportunities but also helps businesses easily access capital. In addition to providing financial solutions, MSB and Solv also aim to enhance the overall business experience for their customers. Through this collaboration, both parties will work together to develop new services and features that cater to the needs of their target customer group, such as distributors and agents.”
Mr. Mayank Chandele, General Director of Solv Vietnam, expressed his excitement about the partnership, saying, “We are delighted to work with MSB to provide our customers with a comprehensive solution that includes financial services. Our goal is to make business easier and more efficient for small and medium-sized enterprises, and we believe this partnership will help us achieve that goal.”
The partnership between MSB and Solv reflects the growing trend of collaboration between financial institutions and technology companies to provide more innovative and efficient solutions for businesses. As the digital economy continues to grow, it is likely that we will see more partnerships like this emerge in the future.