Vietnam Technological and Commercial Joint Stock Bank’s ambitions to be a top-10 bank in southeast Asia kicked into high gear during the last year. Techcombank, as it is widely called, is now in its 30th year of operations in retail and corporate banking in the country.
With close to 11 million customers, the bank is a digital leader. Its mobile offering is growing steadily thanks to astute partnerships in key economic sectors in one of the fastest-growing economies anywhere in the world.
An example is Techcombank’s collaboration with supermarket chain WinMart. Not only has the bank put service centres in more than 3,000 Winmart stores, but it is also harnessing the company’s push into e-commerce.
It is this embrace of disruption that sets Techcombank apart in Vietnam, and the bank wins Asiamoney’s award for best domestic bank in the country this year.
The rapid digital transformation that chief executive Jens Lottner and his team have executed has set a benchmark for Vietnam’s banking industry. But in many ways, Techcombank is still just getting started. It is in the middle of a five-year, $500 million transformation that is focused on raising its game on data, new digital products and attracting the best talent.
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