The key to the success of a digital bank is the vision and consistent direction of leaders.
According to population size with 84 percent of smartphone users, Vietnam has the top internet users in the world and is entering an era of digital revolution. In particular, banking service cannot stand out in front of this wave of technology. However, the development of digital banks in Vietnam still needs a long-term plan, because there are still a large number of patrons using banking services through traditional service channels.
Ho Phan Hai Trieu, deputy general director in charge of Digital Banking Division of Vietnam Thuong Tin Commercial Joint Stock Bank (Vietbank) discussed about changing customers’ habits.
According to you, how is called a digital bank?
Digital bank is bank that can carry out most banking transactions online via the internet. Transaction of a digital bank does not have to go to a branch and minimise the relevant paperwork. At the same time, digital bank’s features can be implemented anytime, anywhere, so customers can fully take the initiative in transactions.
The purpose of digital banks is to provide traditional banking products and services (opening account, deposit, loan, payment, and so on) to customers through digital platform channels. For customers, synchronisation must be achieved on all transaction channels, from counters or electronic channels; It is necessary to have the best banking service experience built on the basis of in-depth research on customer needs and behavior. Things that have not been implemented before can now be realised through the development of technology 4.0.
What is the difference of Vietbank in digital banking?
Vietbank is investing strongly in changing technology platform (Corebanking, card system, Internet Banking, Mobile Banking, etc.). At the same time, in June 2019, Vietbank gained the international certificate of card payment security according to the highest version of PCI/DSS 3.2.1, making customers safer when using digital banking products.
However, the difference is that we aim to make a difference in experience. In the coming time, customers who use any digital trading channel of Vietbank will also feel the synchronisation from the interface, transaction processing flow and utility features of services.
Other customer support services through direct customer care or service centers (customer support via free switchboard 1800 1122) are enhanced to support and provide customers with the most suitable banking products and services.
In the context of a booming digital bank, how will Vietbank compete against other banks when your bank implements it later?
The advantage of a bank going behind is able to take advantage of the latest technologies and learn from banks ahead to determine the right direction and right products and services for customers. Customers have been basically acquainted with digital banking products and services, making it easy to access modern digital banking services of Vietbank.
How has Vietbank implemented the digitalisation of traditional products?
For traditional products and services, Vietbank is implementing step-by-step digitisation of savings, opening and withdrawing account and service products that have been deployed on Vietbank’s Internet Banking and Mobile Banking application (Vietbank Digital).
In the coming time, customers will be able to register to issue many types of credit cards, domestic payment cards, prepaid cards, etc. on Vietbank Digital and Internet Banking application, from which to recharge and pay for shopping, service trade, use of transport services and so on in a simple and convenient way.
Other services such as opening VIP preferential accounts, loan registration will also be digitised by Vietbank according to a specific roadmap to serve customers.
In your opinion, what is the point of determining the success of a digital bank?
In my opinion, it is the vision and consistent direction of leaders. In fact, many banks have been implementing digital bank but have no strategic direction, so they are not successful. In order to achieve good results, leaders need to allocate resources reasonably to aggressively keep up with changes in technology and customer needs.
In addition, it is necessary to have qualified personnels, accept changing habits and operate digitally to integrate with the market.
The concept of thinking of all Vietbank employees is towards customers to support successful digitalisation performance, bringing customers the most interesting experiences.
