TPBank was awarded Best Digital Bank, Best Branch Innovation and Best Savings Account Product at The Asian Banker Vietnam Awards 2020
- As part of its long-term strategy, TPBank continues to invest in digital solutions that are aligned with the Vietnam market
- The bank effectively leveraged on LiveBank to capture a larger customer base
- The bank’s “Super Zero Account” proved to be a fast-growing deposit product
Hanoi, 9 April 2020 – TPBank received Best Digital Bank, Best Branch Innovation and Best Savings Account Product for 2020 at The Asian Banker Vietnam Awards 2020.
As part of its long-term strategy, TPBank continues to invest in digital solutions that are aligned with the Vietnam market
At the core of TPBank’s digital banking journey is a set of innovative and strategic solutions to target young and tech-savvy consumers and convert them into affluent and highly-affluent customers. The bank developed digital products and channels such as eBankX, QuickPay, Savy, MyGo to complement its physical footprint composed of 75 branches. By creating a strong interconnected ecosystem online and offline, TPBank was able to outpace its peers in terms of compounded revenue growth in four years.
The bank effectively leveraged on LiveBank to capture a larger customer base
The bank has over 200 automated kiosks called “LiveBank” that act as digital branches capable of both cash and non-cash transactions. These 24/7 virtual teller machines are regulated by the State Bank of Vietnam to conduct full e-KYC and real-time customer onboarding, thus enabling TPBank to instantly issue cards and set-up current accounts. LiveBank is equipped with both biometrics recognition technology and optical character recognition technology to assist in customer validation and data handling. Hence in 2019, TPBank was able to boost its customer acquisition and more than doubled its digital banking registered users.
The bank’s “Super Zero Account” proved to be a fast-growing deposit product
In 2019, the bank launched its “Super Zero Account”, which offers a bundle of products including a current account and a Visa debit card. This product also enables users to transfer money through its web and mobile app eBankX without any fees. Due to the ease in accessing this product online and offline, TPBank saw a remarkable growth in both number of accounts and deposit balance outstanding in less than a year.
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Visit The Asian Banker Vietnam Awards 2020 official page at Finance Vietnam 2020
For further information, you may get in touch with:
Mr. Mobasher Zein Kazmi
Head of Research
Region: Asia Pacific