Vietnam International Bank (VIB), a distinguished retail bank established in 1996, continues to pioneer digital banking innovations aimed at enhancing customer experiences. Serving over four million individual customers, VIB remains steadfast in its commitment to technological excellence, underpinned by a strong financial foundation.
Revolutionising Banking With MyVIB
The MyVIB application exemplifies VIB’s ‘Mobile First, Cloud First, AI First’ strategy, positioning itself as a trailblazer in cloud-native banking solutions. By implementing the Temenos Core Banking system on the cloud, MyVIB enhances service quality and operational efficiency, ensuring an optimised and seamless digital banking experience for its customers.
During an interaction with Global Business Outlook, Tran Nhat Minh, Deputy General Director and Director of VIB Banking Technology Service Division, said, “With the objective of becoming a leading retail bank in Vietnam, VIB is always pioneering in investing in promoting morning technology ants, digital transformation, and building an effective and robust technology platform.”
The growing demand for consumers’ digital experiences and the ongoing advancement of technology are driving a major transition in Vietnam’s banking sector. One aspect that has emerged as a game-changer is the migration of core banking operations to the cloud, which promises flexibility, creativity, and an improved customer experience.
Vietnam’s First AI-Powered Banking Assistant
In a groundbreaking advancement for digital banking, VIB has integrated ViePro, an AI-powered generative assistant, into MyVIB. Powered by Amazon Web Services (AWS), ViePro provides continuous, real-time customer support with accurate responses to enquiries related to banking products such as credit cards, mortgages, and loans. Beyond mere automation, in the near future, ViePro offers personalised financial guidance, transaction insights, and spending alerts, empowering users to manage their finances efficiently. This AI-driven innovation is anticipated to enhance customer service efficiency by 40% while driving a 20% increase in the bank’s digital customer base.
Future-Ready Digital Banking
Leveraging Augmented Reality (AR), AI Voicebots, and Peer-to-Peer (P2P) Transfers, MyVIB sets a new benchmark for convenience in digital banking. With an intuitive user interface and automated financial solutions, the platform enables customers to access essential banking services effortlessly and securely.
Exceptional Growth And Customer Satisfaction
VIB’s digital transformation initiatives have led to 50 times increase in transactions since 2016, with 96% of retail transactions conducted digitally by early 2024. The MyVIB application maintains a 4.3/5 rating on the App Store, earning widespread acclaim for its seamless and sophisticated banking experience.
By consistently pushing the envelope in technology and customer experience, VIB once again demonstrates their dedication to technology innovation, earning them the highly sought-after honour of “The Most Innovative Digital Banking in Vietnam in 2024,” which was recognised by the Global Business Outlook Awards.
Through continuous technological innovation, MyVIB reinforces VIB’s position as a leader in digital banking, shaping the future of financial services in Vietnam.