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Techcombank: Mastering the Art of Transformation Through Unrelenting Innovation in Banking

In the ever-evolving business landscape, adaptability and continuous transformation are essential for sustaining long-term growth. Techcombank (HOSE: TCB) has embraced this philosophy at its core, seamlessly integrating data, technology, customer experience, and a culture of innovation to drive its ambition of maintaining double-digit growth.

Administrator

3 December, 2025

Our reporter sat down with Mr. Prasenjit Chakravarti (PC), Director of Strategy & Transformation, to discuss how Techcombank is leveraging AI, data, and agile methodologies to drive growth.

Nearly five years ago, with the goal of serving customers more effectively, expanding the priority customer base, strengthening its position in the high-income segment, and maintaining profitability amidst economic fluctuations and competition, Techcombank was compelled to undergo a comprehensive transformation—from operational processes and customer experience to data-driven decision-making.

‘70% of transformation begins with people’ – that’s the real competitive edge

“If there’s one philosophy that runs through Techcombank, it’s the relentless pursuit of transformation. Business leaders must treat transformation as an ongoing operational capability—managing business while continuously innovating. Because standing still means falling behind and losing market share.” (PC Chakravarti)

This philosophy is realized through the widespread adoption of the “agile” model, focusing on decentralization, enhancing technological mastery, and rapid adaptability. To implement this new way of working, Techcombank views change management as a strategic governance method. Comprehensive training programs, ranging from CRM and digital marketing to tools for developers, help employees quickly adapt and operate in an agile manner, ensuring continuous improvement alongside operations.

“Transformation is 10% technology, 20% data, and 70% people.”

The bank also fosters a transformation mindset through the ‘CEO Transformation Awards,’ recognizing leaders who drive change by proactively adopting and inspiring new capabilities beyond their individual roles.

Despite the global ‘war for tech talent,’ PC offers a unique perspective. “We don’t believe we struggle to find tech talent.” This is because we build that talent from within through internal programs that develop leaders who are both business-savvy and tech-proficient. The goal is to create a generation of ‘business technologists.’ This approach has nearly doubled the bank’s scale over the past five years without a proportional increase in personnel, significantly improving revenue per employee and return on investment.

As a result, Techcombank is among the banks with the highest customer engagement globally. The bank has built a streamlined data system with nearly 7,000 parameters describing 16 million customers, enabling personalized services, enhanced sales productivity, and optimized lending processes. Data has become a strategic tool, not only for decision-making but also for creating new business models. Consequently, 55% of new customers come from digital channels, 97% of transactions are processed electronically, and the Techcombank Mobile app ranks among the top globally in usage frequency.

Transforming to go fully cloud-based

The emergence of GenAI and Agentic AI, alongside traditional AI and machine learning technologies, has provided a significant boost to the transformation journey. Through partnerships with global leaders like AWS, Techcombank has migrated its entire retail and corporate banking systems to the cloud in just six months. TCB is also the first Vietnamese bank to move its data to the cloud and continues to migrate other core banking systems. Few large banks globally have completed this cycle. This reduces infrastructure costs, accelerates product launches, and optimizes customer engagement based on individual needs.

“Essentially, the only thing not yet on the cloud is core banking—we’re working on that too. Once complete, the entire bank will operate on the cloud.” (PC Chakravarti)

Aiming for double-digit growth

Vietnam is a young, ambitious nation on the cusp of a transformative era. According to PC Chakravarti, “The next 15 years are an opportunity for Vietnam to accelerate and transition into a more developed economy.” With significant investment in infrastructure, technology, and digital innovation, coupled with expectations of double-digit GDP growth, the financial and banking sector is poised for substantial development.

Techcombank sees opportunities within this economic tide, aligning its growth trajectory with the nation’s challenges and opportunities. The bank’s ambition is clear: “To be present in more moments of our customers’ lives.”

According to PC Chakravarti, “We currently serve over 16 million customers and aim to double that—reaching one-third of Vietnam’s population without a proportional increase in personnel. Digital platforms, trust-based engagement, and embedded experiences will play a central role. This requires Techcombank to orchestrate a comprehensive partner ecosystem to provide diverse financial and non-financial solutions across all aspects of customers’ lives.”

Looking ahead, PC emphasizes that the bank is transforming daily through core capabilities to deliver exceptional value to customers. From real estate to health insurance, these are high-potential areas for repositioning Techcombank’s ecosystem. The bank aims to become a seamless connector between lifestyle, rewards, finance, and services, prioritizing a smooth and proactive customer journey.

Techcombank’s transformation journey demonstrates that leaders in the new growth era are those capable of large-scale transformation. While cloud computing, technology, data, AI, and Agentic AI are essential, the differentiator lies in the depth of cultural application and customer experience optimization. Transformation is not an endpoint; the ability to adapt to continuous change and challenges is the ultimate ‘survival skill’ for any enterprise.

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Kim Ngân

– 11:43 03/12/2025