On July 9, 2025, at Agribank’s headquarters, the Chairman of the Board of Directors welcomed the high-level delegation of SWIFT (Society for Worldwide Interbank Financial Telecommunication) during their visit and working trip to Vietnam. Also attending the meeting were leaders from several departments at Agribank’s Head Office.

The SWIFT delegation was led by Mr. Kevin Wong, Chief Executive Officer for the Asia-Pacific region. During the meeting, the two sides discussed matters of mutual interest, including digital transformation trends in the banking industry, the adoption of the ISO20022 standard for financial messaging, security measures in international payments, the Sibos 2025 conference, and other key topics.

Since connecting with SWIFT in 1994, Agribank has consistently affirmed its position as one of Vietnam’s leading banks in the field of international payments. SWIFT has become the primary channel for Agribank’s cross-border transactions, ensuring absolute accuracy, safety, and security.

Beyond maintaining connectivity, Agribank has always been a pioneer in technological innovation to meet the strictest international standards. Agribank has made strong investments in developing tools for automatic conversion between MX and MT messages and has upgraded its centralized Payment Hub to efficiently process SWIFT MX messages. To date, Agribank has fully taken the initiative in processing incoming MX messages on its Payment Hub across the entire system, without relying on SWIFT’s conversion tools. This enables Agribank to comply with SWIFT’s mandatory migration timeline by November 2025 and the State Bank of Vietnam’s requirement to implement MX message templates under the ISO20022 standard by September 2025. This not only demonstrates Agribank’s superior technological capabilities but also affirms its strong commitment to enhancing service quality and delivering the best experience to both individual and corporate customers.

During the meeting, the SWIFT delegation shared detailed insights on cutting-edge technology initiatives that are shaping the future of global banking. Since 2019, SWIFT has implemented the MX message format based on the ISO20022 standard to standardize financial messaging worldwide. In parallel, SWIFT is developing advanced artificial intelligence (AI) models capable of learning from fraudulent transactions to build early warning systems that effectively support member institutions in anti-money laundering and fraud prevention efforts. Notably, SWIFT has also made strides in pilot projects such as digital asset and digital currency transactions, instant cross-border remittances from e-wallets to bank accounts, unlocking a new era of fast, convenient, and secure payments for users worldwide. These initiatives not only bring tangible benefits to Agribank but also provide a foundation for the bank to enhance customer experience, optimize operational efficiency, and strengthen its competitiveness in the international market.

At present, Agribank is concentrating its resources on a comprehensive digital transformation journey, aiming to become a leading digital bank in Vietnam. Agribank is currently building a modern data center where data will be centralized, cleansed, and standardized to support the development of proprietary artificial intelligence (AI) models. These models not only help optimize operational processes but also enable Agribank to personalize services and precisely meet the needs of each customer. By deepening its partnership with SWIFT, Agribank gains access to advanced technologies, strengthening its role in Vietnam’s digital banking shift and growing its reach across the region and beyond.

Kylie Nguyen