Techcombank continues to be honored by VISA with eight awards, recognizing its leading position in card payment value in Vietnam

[Hanoi, 02/06/2022] Techcombank has received eight awards from the global payments technology company Visa for its achievements in 2021. These prestigious awards were presented to Techcombank by Visa in May 2022. 
 
For the fourth consecutive year, Visa has honored Techcombank for cementing its leading position among banks in Vietnam in the areas of Payment Volume; Growth in Card Payment Volume; Debit Payment Volume; and Credit Payment Volume. In addition, Techcombank received new awards for being the top bank in Tap to Pay Payment Volume; Domestic eCommerce Payment Volume; Fastest Growth in Contactless Penetration; and Contactless Active Terminals Penetration.

These awards from Visa, recognize Techcombank’s success in bringing superior digital experiences to customers for four consecutive years, during 2017-2021. During this period, the Bank has been proactively working with the Government and the State Bank of Vietnam to further promote the adoption of cashless payments in the economy.
In addition to traditional Visa credit card products, Techcombank issues Visa Signature Cards which offer a differentiated and privileged customer experience and now has a dominant market share amongst affluent cardholders in Vietnam. Techcombank has adopted digitalization at all touchpoints of the Visa card journey, from card opening requests (which takes only 1 minute to process on the mobile banking app), to automated use and management, while maintaining the highest level of user protection and security.

The digital customer journey offered by Techcombank, together with the unique features of Visa cards are important drivers that are attracting customers and have enabled Techcombank to achieve its leading position in terms of transaction volume through digital channels. Digital channels now account for more than 20% of total retail customer transactions at Techcombank, with the number of digital customer transactions reaching 652 million in 2021 and totaling over 9.1 zillion VND in value.  

Techcombank’s success in recent years is based on its customer centricity, providing customers with unparalleled digital experience and tailor-made financial solutions. In 2021, Techcombank acquired another 1.2 new customers, thus expanding its customers base to 9.6 million.

Techcombank has earmarked 500 million US dollars to invest in technology and cloud computing over the next 5 years. In 2021, 4,300 new recruits have been on-boarded, with 700 talents in technology, digitalization, and data. Besides, the Bank has been releasing and deploying numerous new software applications and platforms across many different functions, ranging from training, compliance, to transaction, customer relation management, and underwriting.

“These new Visa awards are further testimony that Techcombank is pursing the right strategy to realize its vision of “Change banking, change lives”. Against the headwind of the COVID-19 pandemic, Techcombank employees have always showed tremendous perseverance in maintaining service quality and experience for customers, and this has helped us to achieve operational excellence and efficiency for many years” – said CEO Jens Lottner.

With ROA of 3.7%, Techcombank is among the top ASEAN banks in efficiency. Its NPS score (net promoter score) is much higher than the industry’s average, and customer satisfaction score hits 83 in quarter 4 of 2021 compared to the industry’s average of only 69.3.
 
ABOUT TECHCOMBANK
Vietnam Technological and Commercial Joint-stock Bank (Techcombank) is listed on Hochiminh City Stock Exchange (HoSE) with ticker symbol TCB. The Bank was established in 1993 when the country was going through tremendous economic changes just after the Doimoi period, with important transitions from the centrally-planned economy to a market one.

Techcombank is one of the largest private banks in Vietnam and among the top banks in Asia. The Bank has pursued a consistent strategy of customer centricity, providing a full suite of banking solutions and services to more than 9.8 million retail and corporate customers via its extensive network of more than 300 branches and outlets across the nation, and further enhanced by its leading internet-banking and mobile banking services. Its ecosystem-led approach in many key economic sectors is the game-changer in Vietnam, one of the fastest-growing economies in the world.