Vietnam has advantages in terms of markets, resources and policies to promote cashless payments and digital banking. In particular, banks that are active in technology and digital transformation have brought optimal utilities, services and technologies.
As one of the pioneering banks in digitisation, HDBank has invested heavily in technology infrastructure and payment platforms for many years, in addition to preparing two other important factors: human resources and processes.
HDBank established the Digital Transformation Center (DTC) in 2020, marking a strong step in its digital transformation strategy for 2021-2025. In parallel with the DTC, the Information Technology and E-banking (IT & E-Banking Division) also enhanced the recruitment of personnel with strong capabilities in core technologies like artificial intelligence (AI), big data and blockchain besides teamwork and foreign language skills.
Those are the standards of the core team of digital transformation projects at HDBank, especially during the complex development of the pandemic and also in the post-pandemic period, when the trend of remote work is being initially implemented by HDBank and has brought positive results.
As a result, over the time, HDBank has accelerated the implementation of digitisation synchronously with key projects such as: digitising the customer journey at the counter; digitising the online customer journey with pioneering technologies such as eKYC, advanced eKYC, integrated authentication via video call; digitising the internal communication system; big data collection; process automation by applying the RPA technology, virtual assistant switchboard (Voice Bot) and Neo Bank Mobile app.
New experience for customers
In May this year HDBank digitised the account opening process at the counter through the tablet application. It completely eliminated the inadequacies that caused difficulties and wasted a lot of time for both customers and bank tellers.
The use of the latest technologies such as OCR (automatic data extraction) from existing documents and biometric technology helps identify and authenticate users quickly and reliably, reducing average time needed for the entire process of opening an account, including opening an account and registering for services such as SMS banking, e-banking, debit cards, checkable deposits, and savings account, from more than 20 minutes to five minutes on average.
According to the bank’s statistics, after three months of digitising the account opening process at the counter via the tablet application, the number of customers registered for e-banking services hit 65% from the earlier 45%.
Based on its digitisation roadmap, in June this year HDBank enhanced the digital transformation using RPA technology. It has completed phase 1 by automating important operational processes like handling requests from customers and maintaining timekeeping for employees using a robot assistant.
HDBank plans to deploy 50 robots this year and complete its plan to automate 500 banking processes by 2023. The robot assistants have helped HDBank reduce the number of manual tasks by more than 80 per cent, increasing processing speed by 30 times (from three minutes to only five seconds needed for a transaction) with an error rate of almost zero.
HDBank’s digital applications and automation of products and services have helped improve the efficiency of transactions and met customers’ needs amid the social distancing. As a result, in the first six months of the year the number of e-banking transactions doubled from the same period last year, and the transaction value tripled to nearly VND60 trillion.
It is expected that in 2023 – 2025, HDBank will expand the scale to increase the number of digital users and digital penetration and the rate of digital transactions to 90%, and accomplish its goal of becoming a Happy Digital Bank.
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