Backbase powers Techcombank’s digital-first makeover

The Vietnam Technological and Commercial Joint Stock Bank (Techcombank) has tapped engagement banking platform provider Backbase to accelerate the digitalisation of its retail and corporate omni-channel engagement. 

Through this collaboration, Techcombank will leverage the Backbase engagement banking platform to innovate and design new digital financial services experiences for both retail and corporate customers.

Backbase will deploy its platform to give Techcombank greater agility and time to market for its digital strategy. The platform will allow Techcombank to create, manage, and optimize its end-to-end customer experience seamlessly as it scales up its digital offerings as a digital-first bank.

With shifting demands for financial solutions amid an increasingly digitally savvy consumer banking segment, banks are faced with an urgent call to reinvent their banking infrastructure to provide their customers with value-added services and alternatives across multiple engagement touchpoints, including mobile.

“To achieve our new vision of ‘Change banking, Change lives,’ Techcombank is embarking on a customer-centric, data and digital-first transformation,” said Pranav Seth, chief digital officer of Techcombank. “In a post pandemic world, making digital experiences simple, safe and seamless while empowering our staff to advise customers in an extremely personalized manner is a core priority. 

Seth said that by transforming their customer engagement platform, Techcombank will be able to innovate at speed to create better products, scale our operations, and make it possible to create a seamless banking experience for customers.

Techcombank is looking to gain an edge by addressing unmet needs and deepening financial enablement for both Vietnamese small and medium-sized enterprises as well as the larger population.

By leveraging the Backbase engagement banking platform, Techcombank aims to provide a comprehensive approach to unlocking access to the next generation of financial services for Vietnamese consumers.        

“As banks rise to meet the increasing demand for online and mobile banking from their customers, they are also opening up new possibilities to work with innovative fintechs and adopt new technologies,” said Riddhi Dutta, Backbase regional director for ASEAN and South Asia.