Chapter 3 - The achievement of Tech

Retail Banking Group (RBG)

“Investments in Adobe’s Experience Cloud and partnership with Personetics allowed Techcombank to more precisely tailor customer experiences on our digital platforms, including AI-powered, personalised money management advice, product recommendations and marketing messages.”

Nguyen Anh Tuan

Acting Chief Retail Banking Group Officer

Overview

2023 was a year of remarkable customer growth and strategic achievements for Retail Banking Group.

Our customer base grew by a substantial 2.6 million, compared to 1.2 million in 2022, while our deposit portfolio increased by 24.9% from 2022, reinforcing its strength and stability.

Our Inspire branded tier grew further and we repositioned customer value propositions (CVPs) for Priority and Private customers.

Techcombank Mobile, achieved a net promoter score (NPS) of 82, ranked #2 among our peers with a 4.8/5 rating on App Store and 4,9/5 rating on Google Play, leading numbers among banking apps. This reinforces our digital edge and commitment to customer satisfaction.

2023 Highlights

Our breakthrough product, the Bao Loc Certificate of Deposit (CDBL) saw remarkable uptake, increasing by approximately 142%

2023 was a busy year for RBG division as multiple digital platforms, dedicated to different branded tiers, were launched or upgraded – such as AI-powered CRM, Adobe digital marketing, loyalty platform and our award-winning Techcombank mobile app.

New digital platforms

Deepening relationships with customers via our AI-powered CRM platform
Adobe digital marketing platform
Launching a ground-breaking loyalty platform
Further enhancing the award-winning Techcombank Mobile app.

Affluent customers

A key focus of 2023 was on fine tuning our wealth management offerings. We relaunched Techcombank Private with tailored CVPs to serve our highest-earning customer class.

Wealth strategy
Unique services dedicated only to the highest-earning Private banking customers.

Expansion into mass affluent and mass customers

Our Inspire tier, launched in 2022, is designed for the young, aspiring and mass affluent ‘Why not?’ generation. It offers unique privileges, promotions and experiences combined with private banking and faster service. This tier grew from 200,000 to 632,000 customers in 2023.

Bringing micro and emerging SMEs into RBG

As part of our determination to understand and serve the diverse needs of our customers, we strategically repositioned our micro and emerging small and medium-sized enterprises (SME) segment into RBG.

Through our extensive network of over 300 retail branches we can scale our services to better meet the needs of SMEs and micro SMEs, while continuing to serve households.
We can address the dual financial needs of business owners with a single, cohesive banking experience and an omnibus credit line.

Unique offerings to drive customer engagement

We spent 2023 initiating several strategic advancements that will lay the foundation for an even more customer-centric approach in 2024:

Dynamic campaigns through partnerships
Personalised customer experience
Bringing Apple Pay to Techcombank customers
Musical events to connect our customers.

Great success with WINLife partnership

Our collaboration with WINLife was particularly fruitful. We leveraged their extensive network of over 3,600 stores nationally to add nearly one million new customers. The partnership has proven to be a dynamic channel for rapid and scalable customer engagement.

Revamped bancassurance strategy

We redefined our bancassurance strategy to focus on needsbased selling, ensuring our products meet actual customer demands. We are at the forefront of introducing digitalled insurance products like TechCare+ and An Gia Như Ý, available directly via our mobile app. These competitively priced products provide comprehensive protection.

We are the first bank in Vietnam to establish a dedicated bancassurance customer service call centre. Additionally, our enhanced iTCBLife platform is now integrated with our CRM system, streamlining lead management and the sales journey, to enrich the customer experience.

2024 Focus

We will:

Accelerate our expansion into the mass and emerging mass affluent segments, with different CVPs, including Auto-earning, Techcombank Rewards and unsecured lending.
Build an integrated CVP which moves away from looking at a business owner as a retail customer and their business as a business customer, toward solutions that address both sets of banking needs concurrently
Maintain our leading position in the traditional affluent segment via best-in-class wealth management propositions, including new breakthrough offerings and enhanced Priority Relationship Manager (PRM) capabilities.