Leading in digital transformation, TPBank brand reaches the Top 5 of Vietnam's private banks

With a sustainable financial foundation, success in digital transformation and market leadership, TPBank's brand value is valued at $425 million in 2023...

With the youth of a bank that has just turned 15 years old, TPBank is strongly marked by the sustainable growth and unique attraction of a leading digital financial institution, continuously innovating to improve service quality, and We care deeply about each customer's experience. With a sustainable financial foundation, success in digital transformation and market leadership, TPBank's brand value is valued at USD 425 million in 2023.

Mr. Dinh Van Chien - Deputy General Director cum Head of Personal Banking Division of TPBank received the award.

Assessing position and brand values

According to the latest announcement of Brand Finance, the world's leading brand valuation company, although Vietnam's economy has a difficult start in the first half of 2023 when exports decline and global interest rates rise, the The national banking brand has proven resilient to economic challenges by implementing digitalization and improving customer service. The overall brand value of enterprises and groups in the whole market increased by 47%, the banking industry accounted for 30% of the total value of the industry. TPBank brand is valued at $424.88 million, strength index is 69.37, in the Top 5 most valuable private banks in Vietnam.

According to Mr. Alex Haigh, Managing Director - Asia Pacific Region of Brand Finance: “TPBank's commitment to innovation is clearly demonstrated by its impressive score of 9.9/10 in the research attribute "Innovation". ". By maintaining a low bad debt ratio and implementing effective handling measures, TPBank has affirmed its position as one of the banks with good asset quality. This has created confidence for investors and stakeholders, contributing to the growth and success of the bank.”

A representative of Brand Finance shared that TPBank has achieved remarkable success in maintaining growth and profitability, affirming its position as a prominent digital financial institution in the retail banking sector in Vietnam. A strategic focus on retail lending products has proven to be a key success factor, especially in a market where retail lending has low penetration. By addressing retail lending needs and implementing streamlined lending procedures through digital transformation, the bank effectively attracts and expands its customer base, especially the young population. In addition, the focus on innovative financial solutions and partnerships is also the driving force behind TPBank's growth. The bank actively develops and integrates financial services into partner platforms through concepts such as Open Banking and Banking as a Service.

Mr. Nguyen Hung, General Director of TPBank emphasized: “The brand value that TPBank has is the trust of customers, the recognition is worthy of non-stop efforts. A bank with good brand strength will have many opportunities for development and bring a lot of value to customers and society.”

Pioneering digitization, breaking through the future

TPBank is a symbol of strong transformation, the leading flag of the trend and always in the pioneer position in the wave of digital transformation not only in the financial sector but also spreading the value and success of all businesses. branch. Mr. Do Minh Phu - Chairman of the Board of Directors of TPBank once emphasized that technology solutions are an important key to breakthrough. With a strong and drastic push, the digital transformation process has brought purple banks to lead the 4.0 revolution in the banking industry with many technological achievements applied to internal processes and customer experience. Livebank is the first "sleepless" automatic banking system in Vietnam and has since become one of the market icons.

TPBank is the earliest application of comprehensive biometric authentication technologies including fingerprint, voice, and face into the process and security of customer information. New methods of communication between customers and banking applications are taken to the next level with voice transfer experiences, money transfer in chat interface, and exciting customizations for maximum convenience.

TPBank also takes the lead in packaging financial solutions and integrating them into partner platforms (Open Banking/Banking as a Service) so that customers can instantly perform financial transactions on e-commerce applications. e-wallets, fintech, e-wallets… The bank's wallet connection service coverage rate is the largest in Vietnam with 12 e-wallets, accounting for more than 90% of e-wallet service users.

In internal operations, TPBank's system of nearly 500 Robots is taking care of and handling simple and repetitive tasks, helping to optimize productivity and human resources. This system helps to replace manual tasks, improve accuracy, reduce errors, enhance security, and enhance customer experience. After implementation, the bank has saved millions of USD; Cost savings are expected to increase by 20% from 2024. The appearance of robots at TPBank is a symbol of new automation in digitalisation, improving customer experience and optimizing transportation costs. onion.

Up to now, TPBank is continuing to lead the way into the innovation - digital creation phase, while many other commercial banks are still struggling to transform. Mr. Nguyen Hung, General Director of TPBank shared: “If we are the pioneer, the opportunity will certainly be greater, but at the same time the challenge is not small. The cost of investing in technology is always huge. Therefore, once invested, it is necessary to lead in technology. We are steadfast in our goal and continuously improve to find the most effective and optimal digitization methods