This article was originally published in the Brand Finance Vietnam 100 2023.
Interview with Thai Minh Diem Tu
To what does Techcombank attribute its increase in brand performance and how are you delivering your brand promise to “Be Greater”?
We are delighted that our brand value has increased by over 46% to reach approximately US$1.4 billion in 2023. This makes Techcombank one of the fastest growing banking brands in Vietnam and reflects the trust we have created around our brand.
Our success has been achieved by putting our customers at the heart of everything we do as a bank. We strive to empower our customers to achieve their financial goals, in line with our brand promise to always “Be Greater” together. Over the past year we have taken our customer-centric philosophy to the next level. We have deepened our understanding of our customers, and offered simple, easy and convenient solutions to support our customers through every stage of their financial lives.
Our focus on enhancing the customer experience is supported by collaborations with technology companies and ecosystem partners. For example, our partnership with Masan to co-create the WINLife ecosystem has brought Techcombank’s banking services to over 3,400 WIN stores nationwide while our new digital banking platform and technology infrastructure has made banking simpler and more intuitive – online and in our branches.
We are enormously proud of the progress we have made in building our brand value, but we know we have more to do. Our “Be Greater” spirit inspires us to be an enabler of growth, wealth and human potential and it is this spirit that will drive us towards even greater success in the future, together with our customers.
How does Techcombank's five-year strategy “Change banking, Change lives” play a part in leading the transformation of the Vietnamese banking industry? What experience does this provide to customers?
Techcombank’s vision is to “Change banking, Change lives” and uplift everyone to reach their full potential. To achieve this, we have embarked on a five-year transformation journey – based on investments in Digital, Data and Talent. We are making good progress and this is enabling us to lead the digital transformation of the banking industry and set an example for others to follow.
Our investments in technology and in building our digital capabilities are made with a clear objective in mind - to unleash the power of technology to create simple, seamless and personalised experiences for our customers. Our new digital platform is bringing banking services to our customers’ fingertips while our expanded use of data is enabling better and faster decision making and the delivery of more personalised customer experiences.
Our digital transformation strategy has been enabled by partnerships with multiple global technology companies including AWS, Adobe and Salesforce to name a few. Our focus on digital transformation has had a real impact on our brand strength. For example, our monthly web visits and social media scores are among the highest of all Vietnamese banks. We are confident that by continuing to focus on digitalisation and customer-centricity the Techcombank brand will become even more valuable in the future.
“Techcombank’s vision is to “Change banking, change lives” and uplift everyone to reach their full potential. To achieve this, we have embarked on a five-year transformation journey - based on investments in Digital, Data and Talent. We are making good progress and this is enabling us to lead the digital transformation of the banking industry in Vietnam and empower our customers to “Be Greater".”
Techcombank is committed to sustainable development as seen in the significant enhancement of its ESG framework. What role does sustainability play in helping to drive your brand promise of “Be Greater”?
For the past 30 years Techcombank has been one of Vietnam’s most pioneering banks and an enabler of growth, achievement and human potential. We recognise that for Techcombank to continue to progress and thrive we must do so sustainably.
For this reason, ESG – which encompasses sustainability – is now a core part of our long-term business strategy and we are making significant progress across all three areas. We are particularly proud of our commitment to delivering a positive social impact on the communities that we serve.
One of our landmark initiatives in this area is our support for the Techcombank Marathons, held annually in Hanoi and Ho Chi Minh City that help to bring people together to run and achieve their full potential, in-line with our “Be Greater” brand promise.
The Techcombank Marathons attract over 20,000 runners from across the globe – a number which is growing each year – and deliver long-term benefits by encouraging people to live more healthily. We also invest in these communities through contributions to local community bodies.
In 2022, we donated nearly VND 80 billion (approximately US$3.4 million) to a variety of causes ranging from supporting disadvantaged peoples to sponsoring student tuition fees. Our commitment to ESG is helping to enhance our brand performance by building trust in the bank among our customers and other stakeholders. We believe that sustainability will play a central role in Techcombank’s success going forward and will also help to ensure we leave a positive legacy behind for future generations.
