Thursday, 6 October 2022

Techcombank recognised for improved digital services, voted most recommended retail bank in Vietnam

5 min read

Consumers voted Techcombank the most recommended retail bank in Vietnam in the BankQuality Consumer Survey Report 2021, receiving a BQS of 101.34.

  •  Techcombank was recognised as the Most Recommended Retail Bank in Vietnam in 2021
  • The bank launched several initiatives to support COVID-19 response
  • Techcombank Mobile helped improve personalised customer experience

Singapore, 24 March 2022 –  Techcombank was recognised as the Most Recommended Retail Bank in Vietnam at The Asian Banker Vietnam Awards 2022.

Techcombank, MBBank, Asia Commercial Bank, VPBank and Vietcombank obtained the highest BankQuality scores among the top five banks voted as most recommended retail banks in Vietnam in 2021.

Techcombank was recognised as the Most Recommended Retail Bank in Vietnam in 2021

Techcombank was recognised the Most Recommended Retail Bank in Vietnam with a BankQuality Score (BQS) of 101.34. Consumers voted Techcombank for its seamless and secured transaction and services. The bank launched several initiatives such as customer-focused improvements on user experience and user interface (UX/UI). It enhanced customer security with its Smart one-time pin (OTP) features. Techcombank initiated new digital banking integration of mortgage, insurance products, and card systems. The bank integrated 40 major utilities and services provider companies on its mobile app.

Techcombank recorded 9.6 million customers, up 13% year-on-year (YoY). The retail transactions via e-banking channels grew 652 million, up 70% YoY while the transaction value reached $399 billion (VND 9.1 quadrillion), up 80.5%. It posted customer deposit growth of 13.4% YoY, valued at $13.8 billion (VND 314.8 trillion).

VPBank saw significant increase in client acquisition and online transactions. Vietcombank launched online account opening service using eKYC technology and recorded a high percentage of monthly active users. BIDV saw its transaction sales increase. The bank has connected with several licensed fintech companies to expand its digital footprint.

The bank launched several initiatives to support COVID-19 response

Techcombank rescheduled an estimated $518 million (VND 11.8 trillion) in loans with further interest reduction of $23.6 million (VND 540 billion) in the wake of the pandemic. The bank also contributed $17 million (VND 400 billion) to social causes such as COVID-19 vaccine fund, hospital construction, and funding of medical equipment.

Techcombank Mobile helped improve personalised customer experience

Techcombank launched a new mobile app, Techcombank Mobile, for retail banking customers in November 2021. The redesigned user interface and mobile app functionalities were based on interviews and surveys of over 4,200 customers. The mobile app provides easier payment method that allows customers to pay and transfer money using a personalised QR code. It integrated a billing hub that lets customers forecast bill for budgeting. It also provides money tracker and payday saver that allow insights on spending habits. The mobile app provides customisation that enables users to select their own background and theme.

About The Asian Banker

The Asian Banker is the region’s most authoritative provider of strategic business intelligence to the financial services community. The global research company has offices in Singapore, Malaysia, Manila, Hong Kong, Beijing and Dubai, as well as representatives in London, New York and San Francisco. It has a business model that revolves around three core business lines: publications, research services and forums. Visit the company website at www.theasianbanker.com.

You may visit the Excellence in Retail Financial Services page at http://awards.asianbankerforums.com/retailfinancial/

 

To view the respective evaluation criteria, click here:

https://awards.asianbankerforums.com/vietnam-awards/criteria

For further information, you may get in touch with:

Mobasher Zein Kazmi

Head of Research

Tel: (+61) 452 514 145

mkazmi@theasianbanker.com

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