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BY SHAHEEN MOHAMMED 10INTRODUCTION Vietnam has experienced more than one decade of high growth rate and it is estimated to be the second highest GDP growth country this year just after China Vietnam has recently implemented the AFTA agreement and it will join WTO in the next several years Together with this integration and globalization trend e-commerce now is becoming a hot issue for all business organizations and economic forums in the country As its nature banking industry is always the first mover to pave the way for other industries to go ahead with the new trend As a leading Vietnamese local bank VFC Bank Vietnam First Class Bank is acknowledging this trend and making preparations for its e-banking strategy Several banks in the domestic market recently introduced electronic banking e-banking services to serve its customers and support for the development of e-commerce markets They have been withdrawing much attention from individual and business customers As an external consultant for VFC Bank we are pleased to propose the E-Commerce strategy to target at the business markets which based on the analysis of the major competitors and SWOT analysis To assure successful E-Commerce strategy implementation we elaborate the E-Commerce Implementation Plan Cost Breakdown ROI analysis and a recommended E-Payment system with a secured transaction plan Risk Management and the dynamic model for VFC to support the proposed system to be able to run well We also make a detailed analysis of EDI and XML to come up with convinced reasons for recommendation of using XML for the strategy 20OVERVIEW OF VIETNAM FIRST-CLASS BANK VFCB The organizational initiative discussed below is for a local leading bank which has been operating in Vietnam for 40 years For confidentiality reasons the actual name of the Bank shall not be used Instead it is named as VIETNAM FIRST-CLASS BANK VFCB with paid up capital up to VND 2445 billions million USD Since Vietnam implemented
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