Global Transaction Services (GTS)
Chief Global Transaction Services Officer
Key performance highlights for 2023 were being the unrivalled leader in fee income and our robust improvement in CASA. This was, in large part, due to Global Transaction Service’s (GTS) creation of a comprehensive suite of innovative, digital-led offerings. Some notable figures:
Outstanding achievements
Supporting the Bank’s strategy to expand its ecosystem through business to customers (B2C)
In 2023, we provided the payment service to about 327,000 merchants including ~200,000 new customers. Our B2C payment service meets the diverse demands of different merchant types from household/retail stores to big chains like WINCommerce and Golden Gate. By expanding our ecosystem to merchants, the Bank taps into new sectors, such as FMCG – FnB, supermarkets, convenience stores, e-commerce – travel/leisure, logistics and others.
Gaining a deeper understanding of customer needs, helping them manage market volatility
Leveraging financial market opportunities available due to the difference between Vietnamese and US interest rates, we offered several innovative foreign exchange and interest rate hedging solutions to corporate and retail customers:
Techcombank’s payment guarantee helps corporate customers tap offshore funding
Amidst this environment, Techcombank payment guarantees, which are backed by our brand and creditworthiness, and our deep understanding of what customers want, saw a strong rise in demand. Corporates can now approach international investors (for example banks, funds, leasing companies) for an alternative source of long-term funds. Our guarantee also gives offshore investors (especially new investors unfamiliar with the Vietnamese market) more confidence to invest in Vietnam.
Ongoing product innovation
Launching C-Cash to local corporates
In Q2 2023, Techcombank collaborated with world-leading cloud-based treasury platform provider, Kyriba, to design C-Cash. This management solution incorporates:
Innovative idle cash optimisation solutions
The attractive yields and high liquidity of Techcombank's Bao Loc Certificates of Deposit (CDBL), purchased and transferred over the counter and online, drew strong customer interest.
CDBL is unique in four ways:
Improved digital capabilities, further digitalising the customer journey
Merchant collection solutions
In mid-2023, Techcombank rolled out an easy, integrated QR solution:
Our partnership with logistic company, BEST Express, is an early success story. When receiving packages delivered by BEST Express, customers can now scan their dynamic QR code to make cashless payments. This solution was awarded Best Virtual Account Management and Best Cash Management and Transaction Bank in Vietnam – The Asian Banker.
Service quality and customer satisfaction
According to McKinsey’s The Business Value of Design report, companies that are strong at designing their products/services also show superior business performance, outperforming industry growth benchmarks by as much as two to one.
We asked ourselves:
To find out, we applied the reliability, assurance, tangibles, empathy, and responsiveness (RATER) service quality framework. This measured our position at different angles from the customers’ point of view, then set service quality standards to aim for.
The new standards are embedded in the first stage of product and service design, improving our value proposition. This customer-driven design focus is one of the reasons the Bank has such good revenue and business growth.
Our net promoter (NPS) score ended 2023 at 82, vs 75 by 3Q23, ranking No. 2 in the market.
Industry and customer recognition
The Asian Banker:
London Stock Exchange Group Foreign Exchange matching:
Vietnam Bond Market Association:
NAPAS:
In 2024, we will: