The customer scale of the bank is growing rapidly

The customer scale of TPBank currently leads the group of young banks (10-15 years of establishment) and even equivalent to many large banks with 20-30 years of establishment.

According to recent data from the State Bank of Vietnam, 77.41% of adults currently own a bank payment account. This number has increased significantly compared to the period of 2015-2017, which was only about 31% (according to World Bank report). The SBV also stated that many banks report over 90% of transactions being conducted through digital channels, with some banks achieving a ratio of up to 98%.

In terms of transaction volume, while there were approximately 700 million transactions processed through the payment clearing system in 2019, which was already a significant number at the time, by 2023 this figure is expected to reach 7 billion transactions, representing a tenfold increase from 2019.

Last year, many banks witnessed an explosion in their customer base, the result of a long period of investment in technology and increased user experience. TPBank is a typical example in the banking industry, having achieved strong customer growth through pioneering digital transformation efforts.

Specifically, by 2023, TPBank will continue its rapid customer growth with 3.5 million new accounts, bringing the total number of customers served to over 12 million. In just three years, with a comprehensive and pioneering digital banking strategy, TPBank has attracted over 8.6 million new customers, double the total number of customers from the previous 12 years.

The customer scale of TPBank currently leads the group of young banks (10-15 years of establishment) and even equivalent to many large banks with 20-30 years of establishment. This will be the foundation for TPBank to expand its operations quickly and increase business efficiency in the coming years. This achievement comes from many factors, but overall, it comes from a philosophy of understanding customers, putting customers at the center to bring the latest products and cutting-edge experiences. Accordingly, TPBank has early identified that digital transformation is the way to help banks establish a differentiated position and increase competitiveness in the market. From 2016 to now, TPBank has brought customers top-of-the-market experiences with the most advanced and modern technologies.

In addition, TPBank has pioneered the application of many other technologies to bring more convenient, fast, and secure experiences. For example, the bank has implemented the ChatPay feature, which allows customers to transfer money by sending messages on popular messaging apps such as Zalo, Facebook Messenger, Viber, and WhatsApp. Or the FacePay payment method, which helps customers make quick and safe payments without carrying cards, cash, or phones when shopping at stores linked with TPBank.

TPBank has also introduced new features such as VoicePay, which allows customers to transfer money through voice commands on TPBank Mobile. Customers only need to speak out the amount, recipient’s name, and transfer details, and the system will automatically process and execute the transaction. VoicePay can also be used to authenticate customer identity when calling the TPBank customer care center, replacing the need for answering security questions. This helps shorten the time and serve customers more effectively.

“The Purple Bank” is also one of the pioneers in applying eKYC, allowing customers to open bank accounts, apply for cards completely online with fast approval times.

In addition to technology application, TPBank also focuses on understanding customer needs and meeting the different demands of each user. Therefore, the bank has implemented a strategy of personalizing customer experience on new products and services in recent years.

In the coming years, TPBank has stated that it will continue to invest in technology, lead and master technology with the direction of “technology for human life”. Accordingly, the bank will use advanced technologies such as Artificial Intelligence (AI), Big Data, Machine Learning, Biometrics to create smart, fast, convenient and safe digital banking products and services. TPBank will continue to develop digital technology platforms such as LiveBank, TPBank Mobile, TPBank Biz,… to serve customers without space and time limits.

On the journey of digital transformation, personalized experience will continue to be emphasized through new features, designs that are suitable for users’ personality and needs. TPBank believes that continuous innovation and creativity will bring the best solutions for customers, thereby affirming its position as a leading digital bank in Vietnam.