Techcombank started a new era of AI-powered banking at its inaugural Techcombank Keynote event in Hà Nội on Friday as the bank accelerates its journey to become a leading bank in Việt Nam with innovative digital and data-led solutions for customers, bringing Việt Nam banking sector to global standards.
Techcombank's first ever Keynote event titled "Pioneering Innovation: Reaching for New Heights" showcased Techcombank's most innovative new solutions for individual, business and corporate customers and highlighted how the bank is harnessing the power of data and AI to create meaningful experiences for customers and deliver unprecedented growth for Techcombank.
Kicking off the event, CEO Jens Lottner highlighted the investment made by Techcombank over the first three years of its 2021-25 transformation plan in the areas of digital, data and talent. This investment has allowed the bank to create unprecedented value for customers and release a number of first-in-the-market innovations. As of today, Techcombank has broadly applied data analysis and AI across the bank and most major systems have been transitioned to the cloud. This puts Techcombank around three years ahead of its competitors in Việt Nam and is enabling the bank to harness the power of data and AI in order to drive unique business outcomes and unparalleled customer centricity.
"This year we have shifted gears and are levering our digital platforms and new data and AI capabilities to create more hyper-personalized experiences for our customers, and grow our business faster and more profitably than any other bank in Việt Nam. We are now redefining banking in Việt Nam with our product innovations and personalized experiences," said Jens Lottner.
Techcombank's application of technology, its customer centricity, and strong operational and financial performance have been recognized by numerous prestigious international awards over the past 12 months. Techcombank has been named "Best Bank in Việt Nam 2024" by the international financial publications Global Finance and Finance Asia and has been voted the No 1 Bank in Việt Nam by customers in a survey by Forbes Magazine.
Pranav Seth, Techcombank's Chief Digital Officer, highlighted the bank's newest innovations that were helping create hyper-personalised experiences for customers through the bank's award-winning digital banking platforms.
Through Techcombank Mobile app, the bank is helping customers improve their financial awareness by providing personalized financial management advice and insights, enabling[LS.LH2] customers enjoy their money and save for the future. Techcombank has already delivered over 52 million personalized pieces of financial advice to more than 4 million customers since the experience was launched. The bank's use of AI and machine learning has been a game changer, delivering more than 100 million insights views in 2023.
Techcombank's new loyalty ecosystem offers rewards and experiences tailored to individual customer's preferences and lifestyles. It is already one of the largest and most diverse loyalty programs in the Vietnamese banking industry, encompassing over 19,000 points of sale with over 300 brands, where customers can earn reward points. Currently, the bank has over 8.5 million customers in its loyalty ecosystem, with around 4 million customers actively earning points each month.
Phùng Quang Hưng, Head of Corporate and Institutional Banking Group introduced C-Cash, a first-of-its-kind corporate treasury management solution, in partnership with Kyriba.
Nguyễn Anh Tuấn, Chief Retail Banking Group Officer, highlighted the bank's all-in-one banking solution for merchant customers called Techcombank Merchant.
Over 600,000 merchants now used Techcombank's merchant solutions, and this has contributed to a 20 per cent increase in the bank's CASA balances.
Supported by a workforce that includes over 1,800 data scientists, analysts and engineers, Techcombank is setting the standard and defining the future of banking by offering meaningful and engaging experiences to customers as it transforms into a bank powered by data and AI.
Santhosh Mahendiran, Techcombank's Chief Data & Analytics Officer, said that the bank's use of advanced data analytics, generative AI and large language models (LLMs) underpin its ability to provide new personalised customer experiences to millions of individual customers.
Jens Lottner said: "Our unique combination of advanced data capabilities, state-of-the-art digital infrastructure, and top-tier talent is a blueprint that cannot be replicated. With the strong support of our partners and shareholders we have built one of the best banking platforms in Asia. We are now ready to go to the next level, to compete and win against our competitors and realize our vision, Change Banking, Change Lives." VNS