Techcombank's AI push delivered 52 million financial insights in 2023
The bank said it has given 52 million personalised financial advice to customers.
Vietnam-headquartered Techcombank highlighted its use of artificial intelligence, sharing that it has delivered over 100 million personalised insights in 2023, of which 52 million are financial advice.
Speaking at a keynote event held by the bank, CEO Jens Lottner said that Techcombank is “redefining banking in Vietnam with [its] product innovations and personalised experiences.”
“This year we have accelerated our drive towards leveraging our digital platforms and new data and AI capabilities to create more hyper-personalised experiences for our customers and grow our business faster and more profitably than any other bank in Vietnam,” Lottner said in the Techcombank Keynote event, held on 28 June in Hanoi, Vietnam.
Techcombank’s chief digital officer Pranav Seth shared that the bank’s use of AI and machine learning has helped deliver over 100 million personalised insights views in 2023. Earlier in 2023, Techcombank had also officially unveiled its two new headquarters in Vietnam.
Over 52 million personalised pieces of financial advice has also been given to over 4 million of Techcombank’s customers, according to Seth.
Techcombank now employs over 1,800 data scientists, analysts, engineers and IT-related staff.
Chief data and analytics officer Santhosh Mahendiran highlighted the bank’s integrated data in the “data lake” from over 50 of the bank’s systems. This data lake is linked with Amazon Web Services’ data analytics capabilities, creating a bank-wide “data brain”, which in turn is linked to Techcombank’s cloud-based customer relationship management.
Treasury, merchant solutions
Meanwhile, Phung Quang Hung, head of the corporate and institutional banking group, introduced C Cash, a corporate treasury management solution.
C Cash will reportedly be rolled out to all of Techcombank’s corporate customers in 2024. It serves as a platform where the use can view their financial positions across multiple bank accounts and even multiple banks.
Techcombank’s chief retail banking group officer Nguyen Anh Tuan highlighted their all-in-one banking solution currency used by 600,000 merchants, that has also contributed to a 20% incresae in the bank’s CASA balances.
Techcombank merchant solutions reportedly offer an all-in-one smart payment acceptance solution; auto-earning; easy credit access for business and personal needs; a loyalty ecosystem; and beyond banking services.