AMnote, a Vietnamese computer accounting firm, signed an MOU with Vietnam’s Shinhan Vietnam Bank on July 7 and promised mutual cooperation regarding the establishment of cloud ERP, provision of firmbanking modules and marketing activities.

Shin Dong-min, president of Shinhan Bank, Min Bok-ki, head of the bank, and Koo Jin-young, CEO of AMnote attended the event that lasted about 30 minutes from 10 a.m.

With the MOU, Shinhan Vietnam Bank will be the first Korean bank in Vietnam to set up a fund management sub-si platform for mid-sized and small-sized companies.

In case of a large company in Vietnam, a customized fund management service could be provided based on financial strength, but in case of a medium or small business, there were many difficulties in building related infrastructure due to issues such as costs, even though efficient accounting and money management services were required.

However, this MOU is meaningful in providing a low-cost and convenient  firmbanking platform for small and medium-sized businesses.

Shinhan Vietnam Bank currently operates 18 branches in its 25-year career, making it the largest number of foreign banks operating in Vietnam, a leading foreign bank in Vietnam.

Vietnam AMnote is a multinational accounting program producer optimized for small and medium-sized foreign companies operating abroad, offering Vietnam’s only accounting program supported by Korean.

A Shinhan Vietnam official said, “Considering Vietnam’s recent high economic growth and the large number of start-up companies are being established, demand for financial (accounting) management services is expected to explode, thereby benefiting many middle and small businesses through the use of these services.”