CEO Nguyen Hung: TPBank has grown brilliantly and is continuing on the journey of sustainable development

With enthusiasm and steadfast belief, TPBank enters 2024 with the mindset of seizing opportunities, leveling challenges, and conquering new heights.

General Director of TPBank - Mr. Nguyen Hung.

In the atmosphere of the beginning of the Year of the Dragon 2024, Mr. Nguyen Hung, CEO of TPBank shared about the bank's outstanding marks last year and future orientation.

Sir, TPBank surpassed the milestone of 12 million customers, after only 15 years of establishment. What helps TPBank achieve this success?

The number of 12 million customers is an inevitable result of TPBank's rapid growth period. In 2023 alone, the bank will add 3.5 million new accounts, with 8.6 million new accounts accumulated in 3 years, twice the total number of customers accumulated in the previous 12 years. TPBank also recorded outstanding growth in the number and value of transactions on digital channels in 2023 when the total number of transactions was twice as high as last year, and the transaction value increased by 50%.

The post-pandemic period can be considered a boom period for TPBank, when people begin to change their financial service habits and technology becomes an important bridge in communication between customers and banks. TPBank is a leading financial institution in digital transformation, applying technology to bring customers many modern and convenient experiences.

TPBank has combined flexibility and adaptability in business strategy with modern technology platform and diverse ecosystem to bring the best convenience to customers. Since then, the bank has won the trust and love of tens of millions of hearts.

Pioneering in eKYC application in opening accounts on LiveBank 24/7 or TPBank App are revolutionary steps of TPBank, changing the Vietnamese financial market and customers' experience of using financial services. Features such as ChatPay, VoicePay... on the TPBank app are also bringing a new breeze to the way of communication with digital banking applications. All of these things create the attraction of TPBank.

How does TPBank evaluate the young customer group? What is the bank's strategy for targeting this customer group?

Young customers are always the group targeted by TPBank. TPBank is also a 15-year-old young bank, finding harmony with young people, the future generations of the country.

Young people have easy access to new technology and prefer different and trendy experiences, so they will easily convert and use high-tech products from TPBank - a centralized bank. Focus on technology that creates solutions.

In recent years, in addition to diverse products designed for the needs of young people, TPBank has also carried out youthful, "trend-catching" and unique media campaigns. Most recently, the communication campaign with the message "Choose Experience, Fulfill Me" made its mark and was the Top 1 outstanding event on Social Networks, Top 7 outstanding campaigns and Top 5 Trendy brands on the boards. Reputation ratings on social networks.

The "Full Experience - 2in1 Concert" concert has achieved great success, recording 10 million views on channels and platforms, along with 50,000 live viewers, and hundreds of millions of impressions and viral hashtags on social networks. The festival is a successful demonstration of the trendy, youthful and unique path of "branding" that TPBank has pursued for many years.

In the coming time, TPBank will continue on the path it has taken and build trust, attracting young people to use the bank's services.

TPBank CEO said that currently, 98% of TPBank customers' transactions are done via digital channels.

Technology bank with unique characteristics

TPBank is considered a typical bank in Vietnam in the wave of digital transformation. Could you please tell us about the results of TPBank's digital transformation? What percentage of operations at the bank are currently digitized?

Right from the restructuring, TPBank has determined that technology is the lever for breakthrough. Over the past years, the bank has continuously invested in a team of experienced and in-depth technology personnel, mastering resources and the digitalization process, implementing Agile and DevOps models combined with Design Thinking. Thanks to that, TPBank always has technological autonomy and proactively deploys new projects quickly and effectively.

Currently, 98% of TPBank customers' transactions are carried out via digital channels. This is the result after the process of building infrastructure, technology solutions, and building processes throughout the digital transformation period. Currently, more than 90% of activities at the bank are digitized, minimizing records, papers, and hard copies in business processes. This allows all processes and procedures to be carried out much faster and safer, as well as ensuring data integrity. From there, the bank saves 40% of shipping costs and 60% of the average transaction time at the customer's counter.

For example, LiveBank 24/7, the digital transformation symbol of TPBank, as well as the banking industry, can serve 90% of customers' transaction needs but the operating cost is only 1/10 of that of a branch. /transaction.

Thanks to moving activities to digital channels, risk management is also better through data analysis in identifying unusual activities and monitoring channels.

How do you see TPBank's different position in the current market? Is the orientation of "technology for humanity" for sustainable development one of those points?

One thing that probably does not need to be affirmed but has been proven over the past time - TPBank is a pioneer bank in digital transformation and digitization of financial services. It can be said that TPBank is a leading symbol and inspiration for digital transformation not only in the banking industry but more broadly in the digital economy in Vietnam.

More than 11 years ago, TPBank leaders identified technology as the way to stay ahead in the banking sector. Once the smallest unit in the system that "turned around" during the restructuring process, TPBank has now risen brilliantly to become a bank in the top 5 most valuable brands in Vietnam with an asset scale exceeding VND 356,000 billion. , the strongest and most sustainable financial foundation among domestic banks, according to the strict and prestigious evaluation standards of The Asian Banker.

The current success, position and advantages of TPBank are the result of a decade of digital transformation along with the customer-centric business philosophy spread to every TPBank person.

As a technology bank, TPBank clearly defines a different path with its own philosophy - Technology for humanity. In that philosophy, digitalization, technology does not come from computer chips, but from the human heart. The digital transformation journey starts with the questions: how are customers living, what are the needs of society, what will the sustainable future of people look like?

Thanks to understanding customers, TPBank goes from customer needs to create different products, bringing a convenient, modern, and fast experience to customers. We use technology to solve market problems, serve users and put sustainability and greening factors at the center of each business activity. That is the unique quality of TPBank itself.

In the coming years, what strategy does TPBank have to increase competitiveness, especially in the context that a series of banks have strongly entered the digitalization race?

With the leading advantage in the digital transformation revolution, TPBank will continue to promote its inherent strengths and continue to build its human resources and technology infrastructure. The challenge of investment costs is not small. Therefore, once deployed, it is necessary to be a technological leader. We are steadfast in our goals and continuously improve to find the most effective and optimal digitalization methods, bringing new experiences and enhancing the value of our customers.

According to Mr. Nguyen Hung, TPBank is steadfast in its goals and continuously improves to find the most effective and optimal digitalization methods, bringing new experiences and enhancing customer value.

A series of outstanding digital products and services have been and are continuing to be exploited by the bank based on leading technologies such as AI, Big Data, Machine Learning... with strong and widespread application in all Core banking services: payments, credit, deposits... With a diverse ecosystem, connected to many services, the bank brings seamless experiences and benefits to users across the air. digital space. The connection between TPBank's digital financial solutions and the comprehensive digital ecosystem in other areas of life, brings a great experience to customers in the digital society of the future.

Towards a green and sustainable future

The trend of greening in financial activities is expanding. In this wave, TPBank is also in the group of leading units, outstanding with sustainable development projects according to ESG standards. Can you share more about this orientation?

In mid-August 2023, TPBank announced a plan to implement a comprehensive ESG Project within 12 months, with 3 main components including: Building a Sustainable Development Report; Building an ESG Governance Framework; Building a Green Credit Framework and Strategy. This is a step ahead of trends in the world in general and Vietnam in particular, when environmental and social issues are increasingly of concern.

We are confident that the TPBank team can receive technical and technology transfer to implement good governance according to international ESG standards, ensuring green, healthy, sustainable, and responsible development. community, society, and the environment.

The bank also established a business orientation that directs credit flows to finance green projects and community-oriented loan products. TPBank also together with its partner Asian Development Bank (ADB) provided great support through practical loans to women-owned business groups.

In fact, TPBank and its staff have implemented measures towards sustainable development and greening before, including limiting paper, participating in green projects, and planting forests. , clean up landfills... participate in community activities. Understanding our customers, we want to join hands in building a green economy, green society, preserving and protecting core values for future generations.

The WeChoice Award, Better Choice Award... and many other awards from community votes are the clearest proof of what TPBank has done.

What does TPBank expect when entering 2024?

In 2023, TPBank flexibly improvised with the spirit of overcoming all limits, uniting and unanimously overcoming difficult times and reaping certain successes marking the age of 15. With enthusiasm and steadfast belief, TPBank enters 2024 with the mindset of seizing opportunities, leveling challenges, and conquering new heights. We understand that the market still has many difficult developments, so TPBank will continue to promote credit growth, ensure risk management, control debt quality, in parallel with expanding non-interest income, closing contribute to business results. The bank continues to reduce interest rates, support customers and constantly increase technology content to serve customers with the goal of developing a green bank on a comprehensive digital platform.

Thank you Sir!