Techcombank: “Change banking, change lives”— a case study and blueprint for platform-led growth

Hanoi Vietnam, Dec 19 2024 – Backbase, the creator of the Engagement Banking Platform has released an in-depth video case study showcasing Techcombank (TCB), Vietnam’s second- largest private bank and fifth largest by asset size, and its transformation of both retail and business banking. Using Backbase’s Engagement Banking Platform, Techcombank has redefined banking by delivering personalized, humanized experiences at scale while achieving rapid growth and operational efficiency.

Key highlights include:

• Overall Impact: Achieved consistent double-digit growth year-on-year, scaling operations to support millions of customers without increasing headcount, and driving significant efficiencies.
• Retail Banking: Acquired over 2 million new customers digitally in 2023, with digital banking channels contributing more than 50% of total savings and investments. The app has maintained a 4.8-star rating with over 200,000 customer reviews, showcasing customer satisfaction and adoption. Weekly feature releases highlight the unparalleled speed of innovation.
• Business Banking: Delivered an award-winning corporate banking platform, rated 4.9 stars, enabling 90% of payment transactions via mobile and reducing account opening times to just 30 minutes.

Behind the Transformation

Techcombank’s leadership emphasized the importance of selecting a platform that enables creativity and adaptability to meet constantly evolving customer needs. Backbase’s Engagement Banking Platform offered the dual advantages of scalability and freedom—freedom to integrate with existing systems, build differentiated journeys, and test innovations without being constrained by legacy limitations.

Leadership and Vision

Under the guidance of Pranav Seth, Chief Digital Officer, and Mukesh Pilania, EVP and Head of Digital Banking, Techcombank focused on delivering experiences tailored to Vietnam’s diverse customer base.

“We never wanted to pick a product that would limit us in terms of the creativity in meeting evolving customer needs. As much as possible, we leverage out-of-the-box capabilities we can get from the platform but every time there’s a difference needed, we have built our technical capabilities and collaboration with Backbase for our team to modify the platform to achieve exactly what we envision.”

_{Pranav Seth,
Chief Digital Officer}

Strategic Importance for the Banking Sector

Techcombank’s transformation sets a benchmark for modernization in retail and business banking, demonstrating how customer-centric strategies can drive both engagement, preference, and growth. For banks across Asia, this journey offers a blueprint for achieving sustainable success in a rapidly evolving industry.

Watch Techcombank’s success story video here.

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About Techcombank

Vietnam Technological and Commercial Joint Stock Bank (Techcombank) is one of the largest joint stock banks in Vietnam, and a leading bank in Asia, with a vision to Change Banking, Change Lives. The Bank pursues a proven customer-centric strategy in providing a broad range of retail and corporate banking solutions and services to help financially empower its customers. Techcombank has 13.4 million retail and corporate customers, which it serves through a market-leading digital banking platform and mobile app, and an extensive network of transaction service outlets at locations across Vietnam. The Bank’s ecosystem approach, co-created through partnerships in multiple key economic sectors, adds further scale and differentiation in one of the fastest growing markets in the world. Techcombank is rated A+ by FiinRatings, Ba3 by Moody’s and BB- by S&P, which is the highest among Vietnam joint stock commercial banks.