The bank opens TPBank to 'tailor' transaction solutions for each business

Currently, businesses: including specific business fields or new business models can all be tailor-made transaction solutions, creating unique and outstanding values through the banking ecosystem. open goods.

Mr. Duong is the CEO of a chain of stores dealing in equipment and mobile phones, owning 170 stores across the country. The business plan for 2023 sets out the "problem" of increasing the number of stores from 170 to 350 stores, increasing sales by trillions of dong. In the context of a difficult market economy, a strong growth business plan is a big challenge for Mr. Duong. The question arises: How can a business be controlled with the number of stores increasing, the revenue increasing, the number of transactions per day increasing rapidly; while still ensuring smooth transaction, shortening time, improving customer experience?

The solution that banks and fintech companies offer is an open banking system. Accordingly, banks and financial institutions open application programming interfaces (APIs), allowing third parties to access the system of data necessary to serve the development of new applications and services. Open banking provides additional convenience for customers; provide customers with more transparent financial options based on the user's own agreement with the bank and service provider. In other words, open banking is opening a new trend where customers can use banking services at any platform according to their purposes.

The bank was launched in 2018, soon after that, leading banks in the world quickly adopted this model. In Vietnam, TPBank has focused on research and investment to launch the first open banking products. By listening and understanding the needs of customers, TPBank has provided the first APIs from the years 2019 - 2020. After nearly 5 years of developing this service, TPBank has launched hundreds of different types of APIs, Serving the diverse needs of many types of businesses. Among them can be mentioned typical types of businesses such as: multi-industry corporations, securities, insurance, retail chains, hospitals, schools, transportation, e-commerce, e-wallets, intermediaries. pay…

With a modern digital technology platform, by providing hundreds of open APIs, TPBank allows businesses to transfer data to the bank right on their system - instead of having to log in to their Internet Banking/eBank system. banking, while still ensuring confidentiality.
In addition, TPBank prioritizes integrating integration for the following product groups: payment accounts, specialized collection accounts, specialized spending accounts, payments, corporate financial management, etc. TPBank's partners are from In many different fields (e-wallet, insurance, payment, accounting software...), so this bank can quickly expand its network of customer touchpoints and increase customer size. Since then, the coverage of banking services has also been enhanced. TPBank's representative said that up to now, the bank has connected with 12 e-wallets and is one of the banks with the leading wallet connection service coverage rate in Vietnam.

Not only that, with the open banking connection service, TPBank customers can actively operate at any time without having to contact the bank. All requests are automatically made right at the enterprise's system such as: receiving balance fluctuations immediately (real-time), querying information, executing money transfer orders from thousands of other users. directly on the system, providing services related to virtual accounts, e-wallets for businesses, payment via static QR Code and dynamic QR Code...

Mr. Nguyen Hung - General Director of TPBank shared: “Up to now, TPBank owns a rich, standardized OpenAPI library and packages individual APIs into complete product packages, making it easy for businesses to use. easily integrated into their system to bring the most suitable products to customers, shorten connection deployment time, and optimize business costs.

Mr. Hung further emphasized: “In Vietnam, only banks with a good technology foundation are able to deploy open banking, create connections with other systems, and control risks, security and privacy. complete system information. The integration of TPBank's banking services helps enrich the ecosystem of partners, contributing to creating favorable conditions for the overall development of the entire economic sector.