S.Korea's Webcash releases Vietnamese version of 'Branch'

The Vietnamese version of Webcash Co.'s fund management system "Branch," called "WE-MBA," has been launched.

WE-MBA is integrated with 17 Vietnamese bank accounts, allowing real-time monitoring of fund status. In addition, it enables efficient and transparent fund management by assigning account permissions for users and departments.

According to Webcash Global on Tuesday, WE-MBA makes fund management tasks for Vietnamese businesses more convenient. It automatically generates and sends balance reports to the CEO and CFO with just one click. Customers can automate their reporting tasks through easily and quickly generated reports, allowing them to monitor fund status anytime and anywhere.

It also seamlessly integrates with enterprise resource planning (ERP) systems. It provides an Excel file for easy input of account transaction details and balances from financial institutions into the ERP system, reducing operational time for staff and minimizing errors.

Currently, WE-MBA is linked with 17 Vietnamese banks, but the plan is to expand this to 25 banks by December. Webcash Global aims to have connections with all Vietnamese banks by 2024.

"Through WE-MBA's services in Vietnam, we expect to enhance the competitiveness of local companies through process innovation and automation, resulting in cost savings," said Lee Sil-kwon, CEO of Webcash Global. "We will continue to strengthen customer-centric services by thoroughly analyzing the needs of overseas companies."

Furthermore, Webcash Global plans to launch WE-MBA in Japan, the UK, China and Cambodia, which are countries where Webcash Group's local subsidiaries are established, by the second half of 2023. The company also plans to expand into Thailand and Indonesia in 2024.

Write to Mi-Hyun Jo at mwise@hankyung.com