An Binh Bank (ABBANK) is working with Backbase to transform the banking experiences for millions of Vietnamese customers.
Supported by their local partner CMC Technology and Solution, Backbase will deliver the full suite of the Engagement Banking Platform, which encompasses Digital Onboarding, Digital Banking, Digital Assist and Digital Engage.
The platform will enable omni-channel banking, increase ease in customer acquisition, retention, cross-sell, hyper-personalisation, and improve customer servicing through a 360 degree unified customer view for ABBANK retail banking and business banking lines of business.
ABBANK set a five-year digital transformation strategy in 2021 with the mission to deliver a new level of customer experience in digital channels and to strengthen digital products and services enabled by an advanced digital banking platform.
ABBANK CEO Le Thi Bich Phuong said omnichannel banking is not only a trend, but also a necessary service for banks to keep up with the increasingly diverse needs of users, which are rapidly changing along with the progress of technology.
“With the plan to launch omnichannel banking, ABBANK’s customers will experience financial services in a seamless, synchronous and transparent manner across all touchpoints,” said Phuong.
“Meanwhile, ABBANK will also be able to strengthen its capability in customer’s data management, operation efficiency resulted in improvement in competitive advantage for ABBANK in the market,” she added.
Backbase’s platform empowers the bank to own, manage and create accelerated builds upon the platform, which will provide the long-term strategic advantage for the bank to focus on improving business operation efficiency, time to market, and upskilling employees’ digital development.
The platform is built on microservices and APIs to deliver not only essential but also advanced banking journeys in real-time. It is designed to orchestrate the most complex requests into frictionless experiences across digital channels and through the entire customer lifecycle.
“In this region, Vietnam is set to take the lead in digital banking usage for the next three years,” said Riddhi Dutta, regional VP of Backbase in Asia.
“It is imperative for banks to harness scalable and agile architecture and be empowered to dynamically execute against shifting customer needs while continuing to deliver the highest standard in digital customer experience,” said Dutta.
