Sunday,14 July 2024

PVcomBank to reach five million customers in a year with AI

5 min read

Interviewed By Foo Boon Ping

Trinh Vinh Hien, chief technology and digital officer of Vietnam’s PVcomBank, and Ramki Ramakrishnan, managing director for Asia Pacific at Temenos, shared insights into the bank’s digital transformation.

The collaboration between Vietnam’s PVcomBank and Temenos led to the successful rollout of the bank’s mobile banking service, PVConnect, that has reached over a million users. Trinh Vinh Hien, chief technology and digital officer of the bank, underscored the bank’s commitment to enhancing customer experiences through artificial intelligence (AI) and digital innovations.

Reflecting the ambitious growth targets bolstered by robust digital framework, Hien noted: “AI will enhance the customer experience and increase our productivity across the bank in key areas. We have big plans. We are aiming to extend our service to five million customers by next July.”

This initiative aligns with PVcomBank’s strategy to improve service accessibility and efficiency, leveraging Temenos solutions. Ramki Ramakrishnan, managing director for Asia Pacific at Temenos, highlighted the synergy between Temenos technology and the bank’s strategic goals, stating: “We’re also going to go live in business banking in the next quarters, and will invest in bringing AI capabilities to PVcomBank. It’s a lifelong journey between us,” emphasising the sustained collaboration aimed at expanding digital services across various banking businesses.

PVcomBank’s integration of Temenos’s cloud-native digital banking platform on Amazon Web Services (AWS) has been pivotal. This platform has enabled the bank to quickly launch and continuously enhance PVConnect, providing a user-friendly mobile banking experience that is also highly rated by customers. Ramakrishnan highlighted the platform’s agility, which allows for rapid iteration and deployment of new features, supporting the bank’s objective to stay responsive to market demands.

Reflecting on lessons learned from the implementation of the bank’s digital transformation, Hien emphasised the critical role of having a dedicated Temenos project and customer journey manager. This individual is entrusted with the authority and accountability to oversee the project’s long-term success, which is measured through a variety of operational and customer experience performance indicators. This approach ensures that all aspects of the customer journey are managed effectively and align with the bank’s objectives.

Echoing Hien’s thoughts, Ramakrishnan highlighted the importance of this role in fostering successful collaborations and ensuring the seamless integration of Temenos technology with the bank’s operations. He stressed the value of strong leadership and clear accountability in driving project outcomes that meet or exceed planned benchmarks and enhance overall customer satisfaction.

This focus on structured project management and leadership is fundamental to navigating the complexities of digital transformation in banking, ensuring that technological advancements translate into tangible benefits for customers and the institution.

 


Keywords: Mobile Banking, Pvconnect, Service Accessibility, Cloud-native Digital Banking Platform, Agile, Customer Journey Manager
Institutions: PVcomBank, Temenos, Amazon Web Services
Country: Vietnam
Region: Southeast Asia
People : Trinh Vinh Hien, Ramki Ramakrishnan
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