Techcombank strengthens cooperation with international partners

The bank aims to lead the digital transformation of Vietnam’s financial industry with a three-pillared strategy focusing on digital, data, and talent.

Digital banking would make regular banking easier, more convenient, and simpler. Data is the basis for utilizing analytical skills to make quicker and better decisions. In the “talent” pillar, the bank taking the extra miles to go overseas to bring the best Vietnamese talents to Vietnam, at the same time training all the bank’s staff to use digital and data to provide better services to their customers.

Techcombank has been focusing on innovation and technology since its establishment.

This long-term target has led to several technological industry milestones in Vietnam’s banking industry, such as the first credit card launch, zero-fee bank transfers, the digital signature platform for corporate clients, and various world-class platforms being synced on the cloud.

The three-pillar strategy had been discussed at a virtual press conference of the 7th Singapore Regional Business Forum held in Hanoi on July 7, for which Techcombank is one of two platinum sponsors.

During this press conference, participants also discussed the crucial role of its partners, trustees, and friends across the region.

Partners are keys to Techcombank’s success and have shaped its growth story over the last 30 years since its establishment. The bank was founded at a pivotal time for Vietnam, as the government encouraged the transition to a more market-oriented economy.

Ever since, it has been part of the extraordinary growth of Vietnam’s banking industry over the past three decades, with over 11.2 million retail and corporate customers and more than 12,000 employees in over 46 Vietnamese cities and provinces.

Techcombank’s head office at 6 Quang Trung Ward, Tran Hung Dao, Hoan Kiem, Hanoi. Photo courtesy of Techcombank

Partners that are key to its strategic success include McKinsey, Salesforce, Adobe, MISA, and Amazon Web Services.

In 2009, Techcombank became the very first Vietnamese bank to partner with McKinsey. Following this, in recent years it has also announced partnerships with Amazon Web Services, Salesforce, Adobe, Personetics, and MISA…

The Techcombank mobile app, developed with Backbase in late 2021, will be instrumental in offering a seamless, highly personalized user experience on a modern digital platform.

The bank has also partnered with Amazon Web Services to enable a “cloud first” strategy, shifting over the coming years nearly all its applications and, consequently, transactions to the cloud. This will lay the foundation to create and scale new innovative business models, synchronize customer information for better insights, and drive employee productivity.

In late 2022, Techcombank has partnered with Adobe to provide personalized customer experiences across offline and online platforms.

The investment in Adobe Experience Cloud and the Adobe Real-Time Customer Data Platform will enable instant interactions and analysis of user behavior.

In addition, the bank has worked with leading local companies like Masan to launch its WINLife ecosystem, with the aim of ultimately bringing financial services and deepening customer engagement in over 3,400 WIN stores nationwide.

According to Jens Lottner, CEO of Techcombank, Vietnam’s privatization process has highlighted the importance of cooperation and outward thinking in today’s connected world, such as strategic partnerships between Vietnam and Singapore, for many years.

“Vietnam and Singapore are attractive global economies with different profiles. Vietnam offers tremendous growth opportunities with its rapidly growing incomes and low financial penetration. Banks and businesses play a critical role in accelerating growth in Vietnam, while Singapore’s highly educated and skilled workforce attracts global businesses. Both countries will continue to leverage their respective strengths for growth,” Lottner said.

The CEO hopes that both nations will play critical roles in addressing global challenges and capitalizing on opportunities.