Sunday, 20 September 2020

Asia Commercial Bank is Most Recommended Retail Bank in Vietnam and 10th in Asia Pacific according to consumers

By The Asian Banker

  • Asia Commercial Bank enhanced customer experience through strategic initiatives
  • The bank prioritises the voice of the consumers in its growth strategy
  • The bank is working alongside its customers in coping with the COVID-19 pandemic

 

Singapore, 26 August 2020 – Vietnam’s Asia Commercial Bank (ACB) was voted the Most Recommended Retail Bank in Vietnam and ranked 10th in Asia Pacific in the inaugural BankQuality Consumer Survey and Ranking which involved 11,000 bank customers in 11 markets across the region.

Asia Commercial Bank enhanced customer experience through strategic initiatives

Out of 43 retail banks in Vietnam, ACB garnered the highest BankQuality Score (BQS) of 101.30 in the country. The bank has been strengthening its retail banking franchise by strategically developing customer value propositions, boosting branch productivity, improving credit and underwriting processes, and upgrading its mobile banking app.

To view the full ranking, visit https://www.bankquality.com/rankings/best-retail-banks-in-asia-pacific

At the branch level, ACB introduced system changes to reduce duplicative manual data entry and speed up turnaround time for customer accounts opening. This enhanced customer experience and increased employee output. It also introduced upgrades to its digital platforms in 2019 – ACB Online and ACB Mobile – to provide user interfaces, transaction security and functionality for customers.

The bank prioritises the voice of the consumers in its growth strategy

In 2019, ACB conducted detailed research on key customer segments to uncover their motivations, behaviours and attitudes, as well as identify their financial and non-financial needs in various stages of the customer journey. These insights are continually applied in planning process improvements and designing products and services. Moreover, the bank monitors and analyses data from customer feedback using its customer relationship management (CRM) platform.

The bank is working alongside its customers in coping with the COVID-19 pandemic

ACB also garnered one of the top consumer ratings in Vietnam for its COVID-19 response. The bank scored a BQS of 101.23, the second highest in the country. Consumers lauded the bank for providing convenient and secured banking services during this uncertainty. It was also commended for providing reduced loan interest rates and extending the payment period.

 

 

About The Asian Banker International

The Asian Banker is the region’s most authoritative provider of strategic business intelligence to the financial services community. The Singapore-based 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. The company’s website is www.theasianbanker.com.

 

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

 

For further information, you may get in touch with:

 

Mr. Mobasher Zein Kazmi

Head of Research

Tel: (+61) 452 514 145

mkazmi@theasianbanker.com



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