Techcombank awarded for world's leading digital banking solutions

Techcombank retail banking app won the "Best Mobile Banking App in Asia Pacific" award while Techcombank Business was awarded the "Best Integrated Corporate Banking Platform – Global". Last year, Techcombank won the best retail app in Vietnam recognition.

This is the 24th time that the New York-based magazine Global Finance has granted awards to celebrate and recognize the world's top financial institutions and service providers based on criteria such as the strength of digital strategies in enhancing customer experiences, growth in digital customer bases, product innovation, tangible benefits from digital initiatives, and web/mobile features.

Techcombank's Business application is highly appreciated by users. Photo courtesy of Techcombank

Earlier in May, Techcombank, one of the largest joint stock banks in Vietnam, was honored with "Outstanding Digital Banking Innovation of the Year" award by Asian Banking and Finance and the "Best Digital Bank" by The Asset Triple A Digital Awards 2023.

In 2021-2025 strategy, Techcombank has accelerated investments in three key areas: digitalization, data, and talent. In the realm of digitalization, Techcombank is creating a world-class customer experience at every touchpoint of the customer journey. The bank has invested in state-of-the-art technology infrastructure and deployed agile way of working, responding rapidly to customer needs & personalized customer offerings.

In the transformation, Techcombank is collaborating with strategic partners such as McKinsey, Salesforce, Adobe, MISA, Amazon Web Services, Backbase, Personetics. Technology investment in 2023 is expected to exceed US$100 million with nearly 2,000 employees dedicated full-time to technology, digitalization, and data at Techcombank.

In talent, Techcombank has actively enhanced labor productivity and the capabilities of employees through activities aimed at improving employer brand, attracting talent, and providing development training. The number of personnel working in the digital field (Data, Technology and Digital office) at Techcombank has increased by 125% in just three years, from 2020 to 2023.

At the same time, Techcombank has been building data infrastructure with the transition of 43 data systems to the cloud in the past year and using cutting-edge data lake technology and artificial intelligence tools to provide detailed information enabling highly personalized banking experiences for each customer.

Techcombank Mobile application also receives many famous prizes. Photo courtesy of Techcombank

With the bank’s effort, both business and individual customers have benefited from new and effective solutions with the best-in-class experience. Currently there are more than 12 million customers using Techcombank digital bank. This user community has given Techcombank Business app & Techcombank Mobile the highest customer rating, with 4.8/5 points on the App Store.

In the first nine months of this year, 87% of new individual customers joined Techcombank through digital channels and opened bank accounts with EKYC, a highly secure way to allow individual customers to identify themselves quickly from anywhere, with a variety of personalized digital account options, including nickname selection and customized debit card design.

With Techcombank Business, corporate clients can open the account with digital signature and immediately benefit from various features such as e-tax, custom payment, payroll, foreign currency exchange and oversea transfer anytime anywhere without being present at physical counter.

Pre-approved clients can easily access credit of up to VND5 billion through completely end-to-end digital process. Although Bank Guarantee is a complex product, Techcombank has successfully simplified and digitalized the customer experience into a full online journey. All major types of Bank Guarantee (BG) products (Bid, Advance, Warranty, Contract Performance, Payment, FACL) are digitized to shorten the time needed for corporate clients. Besides, Techcombank is also the first in the country to offer digital bank guarantee amendment. These solutions have saved time and effort for corporate clients and enabled them to manage the cashflow demand and accelerate their business growth.

Pranav Seth, Chief of Digital Office, said: "We are truly honored that Techcombank has been recognized by Global Finance as a digital leader across the globe. This is a testament to our customer centric digital approach, leveraging best-in-class global technologies and more importantly our commitment to build a strong talent base that can create global standard solutions with a uniquely Vietnamese touch. It also shows the power of the Vietnamese consumers and businesses that are leading digital adoption in multiple aspects globally and inspiring us to constantly innovate."

Mukesh Pilania, Head of Retail Digital Banking, said: "We launched Techcombank Mobile two years ago and have been continuously listening to our users and strived to deliver superior customer experience with personalized solutions powered by data. Techcombank being awarded as the best among the many leading banks in various markets in the region is indeed an honor."