Chapter 3 - The achievement of Tech

Business Banking (BB)

“More than ever before our business customers were provided 'super convenience' in everyday banking from on-boarding to digital lending, liquidity management to world-class tools such as C-Cash, in partnership with Kyriba.”

Phung Quang Hung

Deputy CEO cum
Chief Business Banking Officer

Overview

By successfully facing many challenges this year, Business Banking (BB) confirmed that our strategy is the right one for delivering a solid financial performance. In 2023, we attracted over 23,000 new customers, 122% more than in 2022, our operational capabilities are strong and our new offerings well targeted. As the market recovers, we are in a position to enable fast growth and improved customer satisfaction.

2023 Highlights

TCBB’s features make it well loved by customers. It has around 100,000 users, and top reviews (4.9/5 rating) on the App Store.

Micro SMEs and SMEs

BB offered this customer group differentiated digital-led value propositions

1. Super convenience in everyday banking

Enhanced onboarding process
Easier banking with new innovative features on Techcombank Business.

2. Easier access to credit through digital lending

Our new credit product also enables SME and micro-SME customers to apply for an overdraft via TCBB – credit access is more convenient and easier than ever.

Harnessing our advanced data and analytics, we are able to offer pre-approval for unsecured lending up to VND 5 billion and partially secured lending up to VND 20 billion.

3. Higher yields from surplus cash

Micro-SMEs and SMEs can invest any excess capital in our popular market-leading Bao Loc Certificates of Deposit (CDBL) where they earn attractive interest (roughly 2% higher than current account) with high liquidity. Corporate clients can now access CDBL both over the counter and online.

The launch of our new product platform for CDBL vastly improves transaction speed and enables smaller denominations and simplified statements and reports. This has boosted the customer experience on TCBB.

4. BusinessOne

We expanded our flagship BusinessOne package with a new customer offering – MerchantOne. It provides a holistic payment and collection solution tailored to merchants’ specific ‘business personas’ and includes:

Bundled offerings for both our merchant owners and their businesses
Convenient onboarding – same time business and personal sign-up
Multiple ways to be paid – Store QR, Dynamic QR and SmartPOS
Helpful store operating tools – One-stop dashboard that brings ease to merchant business owners by generating store QR payment codes and summarising revenue collected in different stores in real time
Integrated loyalty – end-users redeem rewards points in our merchants’ stores.

5. Ecosystem partners

We worked together on products that suit start-up businesses
Our breakthrough QR collection solutions have been integrated into MISA CukCuk – a company sales management platform.

Medium-sized businesses

We also have more differentiated value propositions for medium-sized businesses.

1. Personalised financing packages to turbocharge businesses

Relationship managers research and develop their understanding of particular industries, build relationships with customers in these sectors, then provide them with high-level advisory services. We already offer pre and post shipment financing for import-export customers, especially those in the garment, cashew and wood industries.

This approach has allowed the Bank to grow our exposure to Upper-SME and middle market companies by 22.4% YoY , and diversify the credit book across specific industries. This is despite some sectors, such as export and real estate, facing headwinds

2. Enhanced customers' cash and liquidity management through world-class capabilities and tools

After a successful pilot in 2023, BB is rolling out a non-credit offering called C-Cash, in partnership with Kyriba. This offering adds to the Bank’s existing strengths in credit and helps company CFOs, or those in similar roles, take a more holistic and integrated view of their financial positions. It means that even though CFOs may have funds invested with four or five banks, they can still get a 360 view of their total financial operations so they make more informed, smarter decisions.

Industry recognition

Our commitment to excellence was recognised with a host of prestigious industry accolades in 2023:

Best Integrated Corporate Banking Platform Globally – by Global Finance. This is the first global-scale award we received for our leading mobile app
Most Innovative Digital Banking Platform for Corporates – by Global Business Outlook.
Best corporate digital bank in Vietnam – by International Finance.

2024 Focus

In 2024, Business Banking (BB) and Wholesale Banking (WB) will be integrated into a single Corporate and Institutional Banking Group (CIBG).

The focus of CIBG in 2024 will be on differentiated offerings across the entire value chain, all the way from very large corporate customers to our SME customer base, focusing on six high-growth economic sectors: real estate, FMCG, utilities, financial services, automotive, travel and leisure.

Emerging SMEs (ESME) and micro-SMEs (MSME) will be serviced by Retail Banking Group (RBG) division providing an even more dedicated digitally-led and integrated value proposition for small businesses and owners that focuses on simplicity, operational efficiency and value adding.