Techcombank has chosen Intellect Global Transaction Banking (iGTB) from Intellect Design Arena Ltd. as its technology partner. iGTB will help implement a comprehensive Digital Transaction Banking (“DTB”) platform. DTB will support Techcombank’s plans to provide the most efficient and highest quality digital solutions for its SME and corporate customers.
Moody’s recent credit rating upgrade of Techcombank placed it in line with the sovereign, and a favourable view of Vietnam’s economic growth trends. Vietnam has received more than USD200 billion of inward investment over the last 25 years (USD71 billion foreign direct investment in 2008 alone), into more than 14,000 projects. To further illustrate this market and sector confidence, two months ago, the largest-ever private equity investment in Vietnam, was made into Techcombank.
Mr. Son Thanh Phan, Transformation Director – Transaction Banking, at Techcombank said, “Global Transaction Services is a key component of Techcombank’s ecosystem and value chain strategy where it facilitates financial transaction flows both within and between value chains and ecosystems. Through this transformation, Techcombank will grow customer satisfaction and enhance customers’experience when transacting with the Bank and, thereby, improve customer loyalty.”
Mr. Son continued, “Intellect’s products have been created leveraging their deep experience and capabilities in the transaction banking domain, and also their detailed understanding of Techcombank’s corporate and SME customer segments. The implementation of DTB with an option of a self-service digital portal and a bank assisted service will integrate a number of previously separate platforms, giving Techcombank’s clients – from SMEs to multinational corporations – a consistent and consolidated view of their working capital funds, payment activities, status of collections and receivables, whilst at the same time helping clients access and monitor all trade and supply chain finance requirements, regardless of in which the jurisdiction they operate.”
Manish Maakan, CEO of iGTB added, “We believe our UI/UX capability will be a strong differentiator for the bank to acquire new corporates and retain clients, while deepening the wallet share. Notably, DTB will give clients a consistent customer experience across channels with anywhere accessibility with its CBX platform offering on-the-go, one-click efficiency and easy and informed decision making. Additionally, Techcombank can implement STP between its gateways and local or international payment gateways, as well as host-to-host integration with its clients’ accounting and back-end systems.”