HANOI, VIETNAM –
Media OutReach Newswire – 19 December 2024 –
Backbase, the creator of the Engagement Banking Platform has released an in-depth video case study showcasing
Techcombank (TCB), Vietnam’s second-largest private bank and fifth largest by asset size, and its transformation of both retail and business banking. Using Backbase’s Engagement Banking Platform, Techcombank has redefined banking by delivering personalized, humanized experiences at scale while achieving rapid growth and operational efficiency.
Key highlights include:
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Overall Impact: Achieved consistent
double-digit growth year-on-year, scaling operations to support millions of customers without increasing headcount, and driving significant efficiencies.
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Retail Banking: Acquired over
2 million new customers digitally in 2023, with digital banking channels contributing more than
50% of total savings and investments. The app has maintained a
4.8-star rating with over
200,000 customer reviews, showcasing customer satisfaction and adoption.
Weekly feature releases highlight the unparalleled speed of innovation.
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Business Banking: Delivered an award-winning corporate banking platform, rated
4.9 stars, enabling
90% of payment transactions via mobile and
reducing account opening times to just 30 minutes.
Behind the Transformation
Techcombank’s leadership emphasized the importance of selecting a platform that enables creativity and adaptability to meet constantly evolving customer needs. Backbase’s Engagement Banking Platform offered the dual advantages of scalability and freedom—freedom to integrate with existing systems, build differentiated journeys, and test innovations without being constrained by legacy limitations.
Leadership and Vision
Under the guidance of
Pranav Seth, Chief Digital Officer, and
Mukesh Pilania, EVP and Head of Digital Banking, Techcombank focused on delivering experiences tailored to Vietnam’s diverse customer base.
Pranav shared,
“We never wanted to pick a product that would limit us in terms of the creativity in meeting evolving customer needs. As much as possible, we leverage out-of-the-box capabilities we can get from the platform but every time there’s a difference needed, we have built our technical capabilities and collaboration with Backbase for our team to modify the platform to achieve exactly what we envision.”
Strategic Importance for the Banking Sector
Techcombank’s transformation sets a benchmark for modernization in retail and business banking, demonstrating how customer-centric strategies can drive both engagement, preference, and growth. For banks across Asia, this journey offers a blueprint for achieving sustainable success in a rapidly evolving industry.
Watch Techcombank’s success story video
here.
https://www.backbase.com
https://www.linkedin.com/company/backbase/
Hashtag: #Backbase, #digitalbanking, #engagementbanking, #retailbanking, #omnichannelbanking, #businessbanking, #corporatebanking, #smebanking
The issuer is solely responsible for the content of this announcement.
