"Banking Trendsetter" - The pioneering flag leading the digital banking revolution
Initiating and always leading the digital banking trend, over the past 10 years, TPBank has not only pioneered leading and promoting the entire industry to enter digital "games" to upgrade financial and banking technology, but also brings countless values to the community and customers. TPBank's success and current position are moreover a journey with "digital age resonance" that is humane, unique and not easily copied.
At the end of August, Hoang Minh left TPBank's transaction counter with a bright smile. Minh just finished transferring a large sum of money to his parents who live far away, even though he did not have time to bring his identification papers or bank card. This is unprecedented when customers want to make transactions at a Vietnamese bank. If at another bank, Minh would probably need to search for a public ID somewhere, struggle to sign documents, and possibly be charged a fee for transferring money with a high limit... in the midst of a time crunch.
TPBank is very special. Minh's "digital record" from previous transactions will be recognized by the system. Just by being present at the counter, you can use fingerprints, face scans - the most advanced, most secure biometric security methods to authenticate at the eCM machine for free transactions. Papers and signatures when transacting at TPBank are a thing of the past. The only thing they need to remember is TPBank's transaction point.
Rapid growth in digital transformation
eCM is just one of many pioneering technologies that TPBank has been applying to banking services. Thanks to that, the number of customers of purple bank is always growing at a miraculous speed.
From just 1 million customers in 2015, after 7 years, this number has come a long way and reached 8.5 million customers by the end of 2022 (last year alone, TPBank had more than 3.7 million more customers). new). Effectively leapfrogging in terms of technology and focusing from the beginning on bringing unprecedented and very human digital banking experiences to customers is a major turning point that shapes the momentum of phenomenal growth. period. Purple Bank has just welcomed its 10 millionth customer, equivalent to more than 1.5 million new customers in only the first 6 months of 2023. New technologies are continuously introduced, TPBank application always reaches the rate of customers using it. high frequency of use (increased 4 to 5 times in the past 5 years) and especially the 24/7 LiveBank network and widespread LiveBank+ have created worthy successes of TPBank, affirming the attractiveness of the digital ecosystem. through the highest technology content in banking services in Vietnam.
Many other unique features that only users of TPBank Mobile application can experience and be convinced can visit such as voice money transfer (VoicePay, natural language processing technology application), money transfer money by facial recognition or money transfer in chat interface (ChatPay)… Since 2018, TPBank is the first financial institution in Vietnam to create a virtual assistant called T'aio to answer all questions. of customers and is continuously upgraded and developed as a "Siri" of banking application. In 2022, TPBank also deploys Facepay on the basis of facial recognition algorithm with the ability to analyze 50 million faces for easy payment confirmation.
For small shop owners, TPBank also pioneered the implementation of the SoftPOS contactless payment method, turning phones into card swiping machines. Just download the TPBank SoftPOS application, shop owners immediately have the ultimate card payment application, without needing a POS machine. TPBank SoftPOS accepts payments with all types of cards including Visa, Mastercard, JCB and ATM (with Contactless logo) with outstanding speed of only 5 seconds for a payment transaction.
TPBank represents the effort to apply the most advanced technology and thinking to lead market changes to bring many products and services with optimal experiences for customers. TPBank's pioneering services and products appeared first on the market, and became a model for other banks to deploy. TPBank's new features always lead the market because the research comes from understanding customers, with the desire to help people's lives better.
Recently, 6 million customers using applications on the iOS platform can easily and immediately add TPBank bank cards to their Apple Pay wallet. Synchronizing TPBank's virtual debit card opening feature through the banking application or at LiveBank 24/7, TPBank has completed the 100% online experience cycle, unique in the market to help customers. From registering to open a card to being able to spend in just a few minutes.
Uniqueness is not easy to "copy and paste"
Referring to the breakthrough of digital banking at the present time, LiveBank 24/7 - Vietnam's first "no sleep" automatic bank is considered a symbol. A product proudly stamped "Make in Vietnam" serving customers day and night or on holidays since the end of 2016.
After 7 years of presence, 90% of basic banking tasks including withdrawing money, transferring money, opening cards (ATM, Debit) instantly, and non-stop multi-channel transactions between LiveBank and applications have been accepted by millions of customers. Vietnam loves and has become a familiar destination for the digital city... Customers can leave alone when transacting at LiveBank 24/7 after just one registration of information with biometric identification factors right away. at automated banking thanks to pioneering the application of technology in customer identification (eKYC) based on a series of state-of-the-art solutions applying AI (artificial intelligence), machine learning, biometrics, and big data. ..
LiveBank 24/7 owns a network of more than 500 points of light regardless of day and night and is constantly upgrading utilities. In 2022, Livebank has gone beyond the simple automatic banking model, to combine services such as: lockers, battery charging stations, 24/7 vending machines... with the new name LiveBank+, bringing very interesting banking experience in two big cities Hanoi and Ho Chi Minh City. Up to now, Livebank is still a model of no "copy and paste" bank that has been completely successful and widely deployed in the market. TPBank is always ahead in applying the latest technology to LiveBank, so that this automated bank continuously evolves to bring the most convenience and optimization to customers.
Along with the integrated technologies aimed at individual customers, TPBank also participates in the development of Open Banking at the early stage, alongside the leading banks in the world such as DBS, OCBC (Singapore), Citibank (USA)... By listening and understanding the needs of customers, TPBank has implemented Open Banking and OpenAPI (Banking as a Service) solutions since 2018-2019. After only 2 years, the bank has connected nearly 100 different partners, launched more than 2,500 payment services, equivalent to the speed of a few weeks with an established connection. With that breakthrough, the bank has covered all financial and payment needs (Beyond banking) of customers from education, healthcare, entertainment, public services, fee payment, e-wallet. .. Up to now, TPBank has connected with 12 e-wallets and is one of the banks with the largest coverage of wallet connection services in Vietnam. Purple Bank owns the leading digital ecosystem for 3 consecutive years according to Asian Banker.
TPBank continues to raise the level of technology application for corporate customers to a new level when implementing the digital voucher system. This is a market-leading feature, and no other bank has implemented it in Vietnam. This feature allows customers to draft, sign for approval and send documents completely online anytime, anywhere, no need to add hard copies.
Green, sustainable development from digital "DNA", pioneering leadership
In order to make remarkable changes in technology to bring new experiences and convenience to customers, TPBank has really made a breakthrough from within the bank. The bank has built a strong team of personnel in the field of information technology and mastered advanced technologies in the world. TPBank's technology team has put into operation 500 robots and is capable of creating an average of 5 robots per week to meet internal operating procedures to replace personnel performing simple and repetitive tasks such as inputting data. data, data analysis... helps reduce personnel costs, while increasing accuracy and security.
The purple bank's representative added that technology application has helped the bank optimize business operations and increase its competitive advantage many times over. "TPBank maintains an average growth rate of 30-40% per year, but the number of employees every year only increases by 4-5%. Simple operations are solved by applying technology," said TPBank's General Director, Mr. Nguyen Hung mentioned.
This system helps replace manual tasks, improve accuracy, reduce errors, increase security and enhance customer experience. After implementation, the bank has saved millions of dollars; Savings costs are expected to increase by 20% from 2024. The appearance of robots at TPBank is the flagship in raising a new level of automation in digitalization activities, improving customer experience and optimizing costs. operating fee.
The trend of developing diverse, effective and high-speed digital banking in Vietnam over the past many years has brought many practical values to the community and society, especially customers benefiting from the revolution many traces of Pioneer. TPBank is on the path to conquer new milestones and new achievements commensurate with its position of leading digital transformation in the banking industry. Recently, Purple Bank was honored in the top 5 private banking brands in Vietnam thanks to its outstanding achievements on the path of digitalization. According to Mr. Alex Haigh, Managing Director - Asia Pacific Region of Brand Finance: "TPBank's commitment to innovation is clearly demonstrated through an impressive score of 9.9/10 in the research attribute "Innovation". ".
Previously, the 15-year-old financial institution also received a series of titles from The Asia Banker, IDG Vietnam and AIBP as the best digital bank and digital ecosystem, typical digital transformation bank, and best bank. innovative product service…
A series of outstanding digital service products have been and are continuing to be exploited such as AI, Big Data, Machine Learning... strongly and widely applied to all core services. TPBank is leading the way to a new stage of the 4.0 revolution - the Digital Innovation stage. Creativity for humanity also goes hand in hand with green - sustainable development. Recently, TPBank continued to organize the launching ceremony of the Project on Building a Framework and Improving Implementation Capacity on Environment - Society - Management. (ESG Project), to ensure green, healthy, sustainable development, responsible to the community, society, and the environment.
Aiming to popularize digital payment solutions for society, TPBank is promoting the attraction of opening accounts and accessing banking services such as payment/money transfer/using payment cards via digital channels. Currently, 80% of our new customers open accounts via digital channels. TPBank is also the bank with the largest wallet connection service coverage rate with 12 e-wallets and accounts for more than 90% of e-wallet service users. With that network, 98% of customer transactions at TPBank are via digital channels. Pioneering in linking with population-focused databases to apply a series of solutions for customer identification and authentication. This will shorten customer authentication time while still ensuring system security.
TPBank sets a loftier goal of expanding its customer base, thereby becoming an important factor contributing to the Government and State Bank's project that all Vietnamese people will be able to use banking services, in That 90% will use digital banking services. This will help customers save time, travel effort, travel/cash withdrawal costs... making customers' lives easier thanks to the support of digital banking.
Everything that TPBank focuses on is serving customers, serving people, giving people a simpler, more wonderful experience, leading to a better life in a digital, social city. civilized number.
