Techcombank's 'Automated Profit' 2.0 and the story of creating a trend in digital experience.

The rapid development of technology has led to increasingly high customer expectations for financial products. Today's digital banking experience goes beyond convenience, speed, and security; it must also be tailored to each user's individual needs.

Banks set trends.

Techcombank continues to be known as the "Trend-Setting Bank" thanks to its heavily invested technology platform, especially in digital experience.

A prime example is that in 2016, this top-performing bank in Vietnam implemented Zero Fee, creating a "seismic shift" in the market by waiving all fees for customers using Techcombank's digital banking services, even though at that time, service fees could amount to trillions of VND and were a major source of revenue for banks. After a while, a number of other banks followed suit, and today, almost all banks in Vietnam no longer charge fees.

In January 2024, Techcombank became the pioneering bank in Vietnam to implement "Automatic Income" – paying high interest rates on idle funds held in current accounts with the Automatic Income feature enabled. This "revolution" created by Techcombank has attracted nearly 3 million new customers in just over a year since its launch, optimizing the benefits for nearly 80 trillion VND of customer funds.

After more than a year, a number of banks have now implemented interest payments on account balances, similar to Techcombank's initial "Automatic Interest" model, but with different names, much like how the "free transaction era" in Vietnam was created by Techcombank's initiative.

However, customers are always expecting improvements, especially in terms of experience. This prompted Techcombank to launch version 2.0 of "Automatic Profit" after only one year, further optimizing the customer experience with convenient and seamless features, processing every transaction in just one second across all channels without any limitations.

"Automated Profit" sets a new standard.

"Automatic Profit" is a Techcombank product that has quickly attracted the participation of many banks and the support of millions of customers, thereby establishing new standards for financial products, including:

Utilize your entire account balance flexibly 24/7 while maximizing your money's yield :

The unique feature of Automated Profit is its flexibility. With just one click, customers no longer have to worry about choosing the best option to maximize returns on their idle funds; everything is automatically set up to ensure the account always achieves the highest possible return, up to 4% per year. Unlike other banks that only allow customers to use a portion of their account balance during certain hours, Techcombank's Automated Profit version 2.0, recently launched, allows customers to flexibly use their entire account balance for any transaction such as payments, transfers, or withdrawals 24/7, anytime, anywhere. The automatic transfer system ensures uninterrupted spending. In contrast, the current version from some banks only allows customers to use a portion of their account balance during certain hours. At the same time, instead of requiring a minimum investment of 10 million VND for regular customers and over 100 million VND for priority customers to "earn profit," "Automatic Profit" 2.0 optimizes the entire account balance, eliminating any threshold for earning profit. All of the customer's idle funds generate profit, even if only for one day.

Changing financial management habits: When customers tend to keep money in their accounts longer, they generate more return on their idle funds. This encourages customers to keep money in their accounts instead of withdrawing it for unnecessary expenses, because the higher the balance, the greater the return. In addition, customers avoid wasteful spending, thereby building better financial habits.

A superior digital experience: With just one tap, customers can easily manage their interest-bearing funds directly on the app, receive daily interest, and track their generated profits. This also encourages customers to use more digital banking services, from checking balances and tracking profits to making payment transactions. With the "Automatic Interest Generation" 2.0 version, Techcombank has continuously improved and introduced a groundbreaking solution with a monthly interest payment mechanism that allows customers to easily and intuitively track the yield on their idle funds. The fact that Techcombank has gained nearly 3 million new customers, more than half of whom came from digital channels, and that almost 15 million users are currently participating in the "Automated Profit Generation Era" is the clearest evidence of this.

One initiative - many benefits

"Automated returns" not only helped this bank achieve rapid growth, but also brought significant value to customers, the banking industry, and society as a whole.

For customers, the fact that many people have enabled "Automatic Income" and are prompting other banks to join in and implement it shows that this product is truly attractive and offers practical benefits.

In the banking industry, "Automated Profit" encourages customers to use digital channels instead of traditional over-the-counter transactions, helping banks reduce operating costs, optimize resources, and move towards a modern banking model. Furthermore, it fosters competition among banks, thereby creating increasingly superior products for users.

For society as a whole, it is clear that in today's Industry 4.0 era, as financial products and services become increasingly optimized and offer better benefits and experiences, users are increasingly prioritizing digital banking. This significantly contributes to promoting cashless payments in society and helps achieve the government's cashless payment goals sooner.

Pioneering the provision of innovative financial products such as "Automatic Income" also helps Techcombank affirm its position as a top bank in innovation and enhance its reputation in the industry.

Source: https://thanhnien.vn/techcombank-sinh-loi-tu-dong-20-va-cau-chuyen-tao-xu-the-ve-trai-nghiem-so-185250319183438315.htm