Techcombank Revolutionizes the Banking Experience with Cutting-Edge Digital Solutions

Techcombank Keynote unveiled the bank’s most advanced digital financial solutions for individuals, households, and enterprises. The event highlighted the immense potential of data and AI, showcasing how Techcombank leverages these technologies to enhance customer experiences and drive breakthrough growth.

Kicking off the event, Techcombank’s CEO, Mr. Jens Lottner, shared the remarkable progress made during the first three years of their five-year strategic transformation (2021-2025). This transformation is anchored on three pillars: Digitalization, Data, and Talent. Techcombank has successfully integrated data analytics and AI across its systems and migrated major platforms to the cloud, positioning itself ahead of its peers in Vietnam. By harnessing the power of data and AI, the bank has elevated customer satisfaction and boosted its business performance.

“Techcombank has undergone a significant transformation to optimize its digital foundation, data capabilities, and AI technologies. We create super-personalized journeys for our customers, accelerate business growth, and deliver superior profits. With our groundbreaking initiatives, we are revolutionizing the banking industry in Vietnam by offering state-of-the-art technology and unparalleled customer experiences,” said Mr. Jens Lottner, CEO of Techcombank.

Super-Personalizing User Experiences and Transforming Banking

During the Techcombank Keynote, Mr. Pranav Seth, Director of the Office of Digital Transformation, emphasized how the bank’s digital platform enhancements contribute to delivering super-personalized experiences based on a deep understanding of its customers.

With the Techcombank Mobile app, customers can easily enhance their financial management skills through personalized financial solution recommendations tailored to their unique needs. This enables them to enjoy their lives while effectively managing and optimizing their finances for the future. To date, Techcombank has provided over 52 million personalized financial consultations to more than 4 million customers since introducing the Personal Financial Assistant feature on the Techcombank Mobile app. The integration of AI assistants and machine learning technology has solidified Techcombank’s “game-changer” status in wealth management, with over 100 million advisory touchpoints in 2023.

The newly launched Techcombank loyalty ecosystem offers vibrant experiences tailored to customers’ preferences and lifestyles. It is one of the largest and most diverse loyalty programs in the financial industry, connecting customers to over 19,000 merchants from 300 brands, where they can earn and redeem rewards according to their preferences. Currently, the bank has over 8.5 million customers in its loyalty ecosystem, with approximately half actively engaging each month.

Techcombank’s efforts in super-personalizing customer experiences have yielded impressive results: a 700% increase in conversion rates for targeted marketing campaigns, a 21-fold increase in credit card application conversion rates, and a 13% improvement in new customer activation rates.

Innovative Solutions Tailored to Customers’ Needs

Mr. Phung Quang Hung, Director of Corporate and Institutional Banking, introduced C-Cash, a corporate treasury solution developed in collaboration with Kyriba.

Piloted in 2023, C-Cash was rolled out to all corporate customers in 2024 and is designed to enhance treasury management capabilities, bringing them closer to international standards. By centralizing financial data and analytics, C-Cash enables businesses to monitor their cash flow, make timely investment decisions, and optimize financial costs and returns while improving working capital management.

For merchants, Mr. Nguyen Anh Tuan, Director of Retail Banking, presented Techcombank Merchant, a comprehensive banking solution. It offers smart payment acceptance, automatic profit generation from idle cash, easy access to credit for personal and business needs, an attractive loyalty ecosystem, and beyond-banking services to help businesses manage and grow their operations.

Over 600,000 businesses are already utilizing the Techcombank Merchant solution, contributing to a 20% growth in the bank’s CASA balance.

Pioneering Distinctive Investment Solutions

Mr. Nguyen Xuan Minh, Chairman of Techcom Securities (TCBS), attributed the company’s success to its pioneering “Wealthtech” strategy. TCBS has developed the super app TCInvest and a suite of advanced digital wealth management solutions.

In the first quarter of 2024, 31,187 new customers opened accounts with TCBS through the TCInvest app. With a leading customer base, especially among self-directed investors, the app averages over 14.8 million monthly visits. TCInvest enables customers to seamlessly conduct transactions in stocks, bonds, funds, derivatives, and other financial instruments online, safely and securely.

As a preferred choice for investors, TCBS has achieved rapid growth, with profit increasing by approximately 40% annually from 2013 to 2023, while operational costs have been optimized through investments in technology infrastructure.

Harnessing the Power of Data and AI

With a team of over 1,800 IT, technology, and data experts, including top data engineers, Techcombank is setting new standards and transforming the future by delivering meaningful and captivating experiences to its customers. On its journey to becoming a data- and AI-powered bank, Techcombank is committed to investing in its talent.

Mr. Santhosh Mahendiran, Director of Data & Analytics at Techcombank, affirmed that the bank’s use of advanced data analytics, generative AI, and large language models enhances its ability to provide personalized customer experiences to millions of individuals.

Leveraging a “data lake” that consolidates data from over 50 core systems and runs on AWS cloud infrastructure, Techcombank has upgraded its data analytics capabilities and applied them across the organization. One notable example is the cloud-based customer relationship management (CRM) platform, which offers a holistic view of each customer, enabling relationship managers (RMs) to make timely and informed decisions. Techcombank is the first bank in Vietnam to implement Salesforce’s leading CRM system, which is now used by over 6,000 employees across the bank.

Building on its “data brain” and leveraging data from over 1,000 available customer attributes, Techcombank operates 45 advanced machine learning models, enabling accurate prediction and fulfillment of customer needs. By applying this data intelligence in practice, the AI-powered “LACE” system provides RMs with comprehensive customer insights, helping them create more precise customer prospect lists and improve productivity. Techcombank is currently exploring how generative AI can drive higher-level innovation for the bank and its customers.

Concluding the first-ever Techcombank Keynote event, CEO Jens Lottner remarked, “The superior combination of enhanced data capabilities, modern digital infrastructure, and world-class talent has formed Techcombank’s unique development strategy. With the strong support of our strategic partners and shareholders, we are establishing ourselves as one of the best banks in Asia. Techcombank is ready to soar to new heights, delivering superior advantages to our customers, shareholders, and the bank itself, as we work towards realizing our vision of ‘Transforming Finance, Elevating Life.'”