Techcombank unveils AI-driven innovations to enhance customer experience

Techcombank held its inaugural keynote event, 'Pioneering Innovation: Reaching for New Heights' in Hanoi. CEO Jens Lottner and other members of the executive team revealed a range of innovative financial offerings and solutions for various customer segments. The focus was on the bank's use of data and artificial intelligence (AI) to enhance customer experience and drive growth.

Lottner began by discussing Techcombank's significant investments in digital, data, and talent over the past three years as part of a broader 2021-2025 transformation plan. "This investment," Lottner noted, "has allowed the bank to create unprecedented value for customers and release a number of first-in-the-market innovations." He highlighted that most major systems have transitioned to the cloud, putting Techcombank three years ahead of competitors within Vietnam.

"We have accelerated our drive towards leveraging our digital platforms and new data and AI capabilities to create more hyper-personalised experiences for our customers," said Lottner, "and grow our business faster and more profitably than any other bank in Vietnam." He added that these innovations have earned Techcombank multiple prestigious international awards, including the titles of Best Bank in Vietnam 2024 by Global Finance and Finance Asia and the #1 Bank in Vietnam in a survey by Forbes Magazine.

Pranav Seth, Techcombank's Chief Digital Officer, highlighted the bank’s newest innovations, aiming to create hyper-personalised experiences via its digital banking platforms. Through the Techcombank Mobile app, the bank has provided personalised financial management advice to over four million customers, delivering more than 52 million pieces of financial advice and 100 million personalised insight views in 2023. The bank's new loyalty ecosystem also rewards customers based on their preferences and lifestyles, with over 8.5 million monthly customers participating.

Mr Phung Quang Hung, Head of Corporate and Institutional Banking Group, introduced C-Cash, a corporate treasury management solution developed in partnership with Kyriba. Initially piloted in 2023, C-Cash is designed to give corporate customers a 360-degree view of their financial positions across multiple bank accounts, enabling timely decision-making and improved capital efficiency.

Nguyen Anh Tuan, Chief Retail Banking Group Officer, talked about Techcombank Merchant, an all-in-one banking solution for merchant customers that streamlines smart payment acceptance, access to credit, and loyalty rewards. This solution has attracted over 600,000 merchants, resulting in a 20% increase in the bank's CASA balances.

Nguyen Xuan Minh, Chairman of Techcom Securities (TCBS), discussed the Wealthtech strategy leading to the development of the TCInvest super app and other digital-led wealth management solutions. Serving around one million customers, TCBS holds the #1 position among bank-owned equity brokerages on the Ho Chi Minh Stock Exchange.

Santhosh Mahendiran, Techcombank's Chief Data and Analytics Officer, elaborated on the bank's data and AI capabilities. Techcombank's 'data brain' integrates data from over 50 systems linked with Amazon Web Services (AWS) to provide a comprehensive view of customer information. The bank operates 45 advanced machine-learning models to predict customer needs with precision. An internally developed AI program, LACE, provides relationship managers with enriched insights for smarter lead allocation.

Techcombank's partnerships with technology companies such as Adobe, AWS, Kyriba, and Salesforce were also highlighted. Simon Dale, Vice President of Adobe Asia, remarked, "Today's banking customers demand seamless, tailored experiences across multiple touchpoints, whether digital or in-branch." Sujith Abraham, Senior Vice President and General Manager of Salesforce ASEAN, added, "Unified company data from across systems is critical for AI to deliver trusted and meaningful outputs that can be actioned."

In closing, Lottner stated, "With the strong support of our partners and shareholders, we have built one of the best banking platforms in Asia. We are now ready to go to the next level, to compete and win over customers to realise our vision, Change Banking, Change Lives."