The Differentiation That Makes TPBank's Digital Banking Services Attractive

In the rapidly expanding landscape of digital services, the products and services developed by TPBank, based on a deep understanding of customer needs and built on a modern digital banking platform, remain unique, impressive, and attractive to users. Sometimes, major changes are not necessary; even small adjustments that target customer needs and habits can be the key factor that helps TPBank stand out.

Differentiation and Effectiveness Driven by Understanding Users

Choosing digital banking as the core focus for development, TPBank's customer-centric creative thinking has positioned the bank as a data-driven institution, where decisions in business strategy, product development, operations, and risk control are all based on data. To achieve this, TPBank has invested heavily in technical infrastructure and adopted a strategy for data democratization. This ensures that all departments can leverage, analyze, and make decisions based on data.

Having clear data strategies has also paved the way for TPBank to apply advanced artificial intelligence (AI) and machine learning techniques. “TPBank is committed to making all decisions based on data collection and analysis to deliver the best customer experience and benefit the bank,” affirmed CEO Nguyen Hung at the Smart Banking 2024 event (October 29, 2024).

CEO Nguyen Hung of TPBank shared the bank’s progress on data strategies during a panel discussion.

At TPBank, products and services are designed with the goal of closely aligning with customer needs, offering the most convenient experience. For example, in money transfers, customers can transfer money in a creative way through ChatPay on the TPBank App – transferring money as easily as sending a chat message. In addition to the usual methods, customers can now group all transactions with a person over a certain period in just a second, easily search for TPBank accounts associated with phone numbers in their contacts, and use the “paste to pay” feature to complete transactions without manually entering data.

Customers can completely save time by using just one “Copy & Paste” command for the transfer information in ChatPay. The GenAI technology on the TPBank App will automatically recognize regular conversation segments, turn them into transaction input information, and complete the transfer automatically.

This feature also impressed a large number of attendees at TPBank’s booth during the Smart Banking 2024 event. In today’s world, where online shopping is increasingly popular and has become the main channel for many customers, this feature significantly enhances the user experience. It also serves as proof that small applications of new technologies, like GenAI, can create breakthrough experiences for customers. By adding and improving these small yet satisfying features, TPBank has made a strong impression and "scored points" with its customers.

Leading the Market to Capture Market Share and Establish Competitive Advantages

With the goal of becoming a "Super App" in the banking industry, similar to WeChat/Alipay, TPBank has been a pioneer in Vietnam, applying Open Banking since 7 years ago to bring modern and convenient financial experiences to customers.

Open Banking enables banks to easily open APIs, creating conditions for enhancing research and integrating with other industries to build a digital ecosystem. Having connected with hundreds of partners and providing nearly 2,000 payment services through Open APIs, TPBank allows customers to carry out financial transactions, payments, card issuance, and loans directly on apps they use every day, such as MoMo, ZaloPay, and Shopee, without switching between platforms. This brings convenience, speed, and high security, enabling customers to access and use banking services easily in their daily lives.

Currently, TPBank is leading in Digital Lending by partnering with e-commerce platforms (e.g., Shopee, MoMo) to offer Buy Now, Pay Later (BNPL) services. When shopping for an item on an e-commerce site, customers can choose between using their wallet balance or requesting credit from TPBank directly via the app. The bank will automatically evaluate, assess, and score the customer, providing results within minutes, allowing them to purchase the item immediately.

This is seen as a promising market, as consumer behavior is changing. Instead of waiting to save for a product, customers can now "buy first, pay later" with a clean credit history.

Thanh Thuy, a 23-year-old office worker, shared: “Sometimes, I find something I really want on sale, but if I wait until payday, the price won’t be the same. So, choosing SpayLater on the platform lets me buy the item at a good price without having to pay right away.” A representative from TPBank shared that the bank currently has about 3 million customers using this service, with strong growth potential, especially among young people who love online shopping, particularly e-commerce.

Without limiting its capabilities, TPBank continues to expand new digital services while also refining every small experience on the app to increase customer benefits. This contributes to accelerating the realization of a digital city with increasingly superior experiences for a more convenient life.