The bank made the announcement on August 22, and the awards were given in recognition of excellence in retail banking, and for the quality of its cash management and trade finance solutions for corporate and institutional clients.
These new awards add to the host of top prizes already won by Techcombank this year, including becoming the first Vietnamese bank to ever win the hat-trick of Vietnam’s Best Bank awards from leading international finance publications Euromoney, FinanceAsia, and Global Finance.
For the third year in a row, Techcombank was named Domestic Retail Bank of the Year in Vietnam at the Asian Banking & Finance Retail Banking Awards.
Techcombank's headquarters in Hanoi
The award recognised Techcombank’s focus on customer-centricity and its innovative customer offerings, including its break-through auto-earning solution that enables retail customers to generate profit from idle cash.
Techcombank’s auto-earning solution can be conveniently activated on a customer’s account through the click of a button using the Techcombank mobile app.
Once activated, idle cash above a certain threshold is automatically swept into a higher interest rate product offering a yield of up to 3.6 per cent per annum, while still ensuring the cash is available should it be needed to make payments.
Asian Banking & Finance also acknowledged the quality of Techcombank’s digital banking platforms and of the data-led personalised experiences that customers can enjoy when using its mobile banking app.
For example, Techcombank is now using AI and machine learning to provide personalised financial management advice and insights through its retail banking app, and has already delivered over 52 million personalised pieces of financial advice since the experience was launched.
In addition, the bank’s new loyalty ecosystem, available through the app, offers personalised rewards and experiences tailored to individual customer’s preferences and lifestyles.
These personalised experiences have helped the bank to build one of the most digitally engaged customer bases of any bank in the world, with an average of 50 logins per customer per month to its retail mobile banking app.
Nguyen Anh Tuan, chief retail banking group officer at Techcombank, said, “That Techcombank has been named Domestic Retail Bank of the Year in Vietnam for the third year in a row is an outstanding achievement and testament to the quality of our innovative products that cater to all customers’ needs. We now move forward with renewed purpose and will continue to serve and financially empower our customers so that they too can achieve their own greatness.”
Techcombank also won Vietnam Domestic Cash Management Bank of the Year and Vietnam Domestic Trade Finance Bank of the Year at the awards.
These awards recognised the excellence of Techcombank’s cash management and trade finance solutions for its corporate and institutional clients.
Notably, C-Cash is a first-of-its-kind corporate treasury management solution designed to help Vietnam’s largest corporates uplift their treasury management to a world-class level.
In the area of trade finance, Techcombank has standardised and digitalised corporate customer journeys for the best possible experience and launched new trade finance solutions.
For example, Techcombank has launched a new Digital Bank Guarantee solution that means corporate clients can request and obtain a guarantee quickly and conveniently using the digital banking app.
The Digital Bank Guarantee offers ease of use, flexibility in meeting business requirements, complete security, absence of hard copy documentation, and maximum guarantee receipt in two working hours.
In 2023, 20 per cent of Techcombank’s corporate customers changed to using the digital bank guarantee within eight months of the solution’s launch, and this number is continuing to rise.
Phung Quang Hung, head of Corporate and Institutional Banking Group at Techcombank, said, “We are delighted that our C-Cash treasury management solution and our holistic suite of innovative trade finance offerings, including the Digital Bank Guarantee, has been recognised by the Asian Banking & Finance Wholesale Banking Awards. These awards reflect our commitment to meeting the needs of our corporate clients and empowering them to run and grow their businesses through a suite of outstanding digital and data-led solutions.”
