Techcombank - The art of transformation is building a bank that is constantly innovating.

Mr. Prasenjit Chakravarti - Head of Strategy & Transformation, shared insights on how Techcombank is expanding AI, data, and agile working models to drive growth:

Nearly five years ago, with the goal of serving customers more effectively, expanding its priority customer base, strengthening its position in the high-income customer segment, and maintaining profitability amidst a volatile and competitive economic environment, Techcombank was required to undergo comprehensive innovation – from operational processes and customer experience to data-driven decision-making.

Mr. Prasenjit Chakravarti (PC) - Director of Strategy & Transformation

"70% of transformation starts with people" - that's the real competitive advantage.

This philosophy is realized through the widespread application of the "agile" model, focusing on decentralization, enhancing technological mastery, and rapid adaptability. To put this new way of working into practice, Techcombank views change management as a strategic management methodology. Training programs span the entire scope, from CRM and digital marketing to a suite of tools for programmers, enabling employees to quickly access and operate using agile principles, ensuring continuous improvement while maintaining operations.

The bank also promotes the spirit of transformation through its "CEO Transformation Awards," which aims to identify leaders who drive change – individuals who proactively adopt and inspire new capabilities that extend beyond their personal roles.

Although the world is witnessing a "talent war" in the tech industry, Prasenjit Chakravarti offers a very different perspective. “We don’t think we have difficulty finding tech talent. We build that talent from within by implementing internal programs to cultivate leaders who are both politically sound and professionally competent – possessing both practical business skills and a deep understanding of data and banking technology. The goal is to create a generation of future business technologists. This approach has helped the bank almost double in size over the past five years without a corresponding increase in personnel. This has led to significant improvements in revenue per employee and return on investment.”

As a result, Techcombank is among the banks with the highest customer interaction levels in the world. The bank has built a lean data system “with nearly 7,000 descriptive parameters for 16 million customers, enabling personalized service, improved sales productivity, and optimized lending processes.” Data has become a strategic tool, not only helping in decision-making but also creating new business models. Thanks to this, 55% of new customers come from digital channels, 97% of transactions are processed electronically, and the Techcombank Mobile digital banking application is among the top globally in terms of usage frequency.

Techcombank Head Office

Migrate your entire system to the cloud.

The emergence of GenAI and Agentic AI alongside traditional AI and Machine Learning technologies has created a major impetus in the transformation process. With collaborations with major global partners like AWS, Techcombank moved its entire retail banking and corporate customer system to the cloud in just six months.

TCB is also the first bank in Vietnam to move its data to the cloud and is continuing to migrate other core banking systems. Very few large banks worldwide have been able to complete this process. This helps reduce infrastructure costs, improve time to market, and optimize customer accessibility tailored to individual needs.

"Essentially, the only thing that hasn't moved to the cloud yet is core banking – and we're in the process of doing that too. Once completed, the entire bank will operate on the cloud," said Prasenjit Chakravarti.

Aiming for double-digit growth

There is a young, ambitious Vietnam on the verge of rapid growth in this era of national development. According to Mr. Prasenjit Chakravarti, "The next 15 years are an opportunity for Vietnam to accelerate and transform into a more developed economy." With large capital inflows into infrastructure, technology, and digital technologies, along with expectations of double-digit GDP growth, the finance and banking sector is considered to have significant room for further development.

Techcombank also saw opportunities in that economic trend, as its growth trajectory aligned with the shared challenges and opportunities of the entire nation. Accordingly, the bank's ambition was clearly quantified with the goal of "being more present in every moment of our customers' lives."

“We are currently serving over 16 million customers and aim to double that number – representing one-third of Vietnam’s population – without necessarily increasing our workforce proportionally. Therefore, digital platforms, trust-based and loyalty-driven engagement mechanisms, and embedded experiences will play a key role. This requires Techcombank to coordinate a comprehensive partner ecosystem to provide a diverse range of financial and non-financial solutions across all aspects of our customers’ lives,” shared Mr. Prasenjit Chakravarti.

Reflecting on the next phase, Mr. Prasenjit Chakravarti affirmed that the bank is transforming daily through its core competencies to create exceptional value for customers. From real estate to health insurance, these are all promising areas for repositioning the development goals that the Techcombank ecosystem needs to pursue. Accordingly, the bank will become a seamless system connecting lifestyle, benefits, finance, and services – where a continuous and proactive journey is prioritized.

Techcombank's transformation journey demonstrates that leading organizations in the new growth era are those capable of implementing transformation on a large scale. In this journey, while cloud computing, technology, data, AI, and Agent AI are prerequisites, the differentiating factor lies in the depth of cultural application and the optimization of customer experience. Therefore, transformation is not the end point. Rather, the ability to transform in the face of continuous change and challenges is the "survival skill" of any business.

Source: https://baodautu.vn/techcombank---nghe-thuat-chuyen-doi-la-xay-dung-mot-ngan-hang-khong-ngung-doi-moi-d449602.html