In the context of conversion number is the inevitable trend of all economic sectors, the financial sector – banks no exception to this. Bank number has become a groundbreaking solution not only helps to improve operational efficiency, but also improve the user experience. For businesses looking for technology solutions to understand more about the bank of not only a strategic choice that is also the key to help optimize financial processes and increase competition.
The article below Lac Viet Computing will help you grasp the core information about the bank numbers, from concept to outstanding characteristics, at the same time opens comprehensive perspective on the trend of this technology.
1. The bank number is what?
Bank number (Digital Banking) is digitized form comprehensive banking services to traditional. Instead of right to the counter transactions, customers can perform all financial transactions, from transfers, savings to loans, entirely on online platforms such as mobile app or website.
Other than online banking (Online Banking) only provide basic services over the network, bank of applying modern technologies such as AI, Blockchain, IoT, and Cloud Computing to automate, personalize and comprehensive security services. This not only brings convenience to customers but also help businesses save time and cost in financial management.
2. 7 outstanding Characteristics of the bank number (Digital Banking)
This is not only a tool of modernization, but also is the foundation core changes the way banks operate. Here are 7 outstanding characteristics of the bank of bringing practical benefits to both banks and customers:
2.1 automation of banking services
Automation is one of the most prominent characteristics of the bank number, to help modernize the entire system operation and service. Technologies such as artificial intelligence (AI) plays an important role in the analysis of customer behavior, predict consumer trends and support to approve loans quickly, accurate.
Parallel to that, the robot application (RPA) contribute to a reduction in task such as credit checks, financial statements, fraud detection. This not only saves time but also ensures higher accuracy, limiting the maximum errors from human.
2.2 banking services not limited to time and place
Bank of removing the limitations on time and space brings the unmatched flexibility for users. Now customers can perform financial transactions such as transfer funds, apply for loans or check your balance at any time in any where, just an internet connection.
In particular, the system supports multi-channel allows users to access through mobile app, website, or the smart device integration, Internet of Things (IoT). For example, in Vietnam, the banking services of MB Bank has implemented the feature to open an account online just in 5 minutes, bring convenience for outstanding customer busy. This not only enhances the user experience but also opens up opportunities to reach new customers for the bank.
2.3 personalize customer experience
Bank of leveraging the power of big data (Big Data) to personalize the customer experience, thereby improving satisfaction. Through the analysis of transaction data, shopping behavior and financial needs, the bank number can suggest suitable products such as pack, loans, insurance, or investment. At the same time, the banking app also allows for custom interface and content promotion to each individual to feel closer to users. Thanks to this ability, the bank of not only better meet customer needs, but also building sustainable relationships with them, help increase long-term value to the bank.
2.4 advanced level of security with authentication AI
In the digital era, security is always a top concern, and the bank number has solved this problem in an effective way through AI technologies. The method of biometric authentication such as face recognition, fingerprint or voice not only increase safety but also create a more seamless experience, replace the traditional password easily stolen. In addition, AI has the ability to analyze the trading behavior and quickly detect unusual transactions, help prevent fraud in real-time. According to a report from Cybersecurity Ventures, the bank of the app WHO are 30% lower risk cyber security. Thanks to this, customers can complete peace of mind when making online transactions.
2.5 optimization of operating costs
One of the biggest benefits of the bank number is the ability to optimize operating costs, bring more efficiency to the bank. By process automation and transformation of goods, banks can significantly reduce the costs related to personnel, the operating branch of physics. At the same time, applicable model no papers also helps save resources, contribute to environmental protection. According to statistics, many banks in Vietnam have to save up to 20% of operating costs every year thanks to the deployment of digital platforms. This not only helps to improve the profitability, but also to create conditions for the bank to focus on product development and new service.
2.6 Integrated tech ecosystem diversity
The bank number is no longer just a standalone app, which has become an integral part of the tech ecosystem. The bank is now working closely with e-wallet apps, fintech, like Momo, ZaloPay, in order to bring more convenience to the user. In addition, the smart devices such as watches, speakers, smart is also integrated to make quick transactions, such as payments do not touch. This integration not only increase the convenience for customers but also help banks expand their reach and develop more financial products innovative, better meet the needs of the market.
2.7 Responsive, comprehensive financial (Financial Inclusion)
One other outstanding of the bank number is the ability to promote comprehensive financial, bring banking services closer to every class in society. Thanks to mobile application, people in the rural areas, remote areas can easily access to services such as opening accounts, savings, or borrowing. Besides, bank number, support small businesses, individual business households can access your funds easily and more transparent. These efforts not only contribute to promote the digital economy but also create a financial system more fair, help to improve the quality of life for millions of people.
3. The core technology in the bank of
Technology is important pillars in the development of the bank number. The progress in the field of information technology has helped the bank offers modern services, security, more convenience. Here are the core technologies shaping the bank number:
3.1 technology, AI (artificial intelligence)
In the era of big data, AI acts as a “brain” information processing efficiency, bank support optimized to operate and enhance customer experience.
Role in the analysis of customer data: artificial intelligence help the bank collect and analyze user data from many different sources, such as transaction history, spending behavior, and financial needs. Thanks to that, the bank can take out product suggestions tailored to each individual.
Application of chatbot analysis, credit and fraud prevention:
- Chatbot: The virtual assistant AI as ChatGPT or solutions dedicated 24/7 customer support, help, answer questions and handle requests immediately.
- Credit analysis: WHO predict the likelihood of repayment of the customer based on historical data, reduce the time to approve the loan.
- Fraud prevention: The AI system continuous monitoring of transactions, detection of abnormal behavior such as unauthorized access or suspicious transactions to stop in time.
Chatbot AI Lac Viet is one of those apps AI in the bank bring superior performance in customer support, process automation, improve user experience.
- Customer support continuous: Chatbot AI Lac Viet automatically answer the common questions from customers such as check account balances, track recent transactions and provide information about products and banking services, without resorting to the intervention of staff.
- Automation technical support: Chat AI Lac Viet handle the technical requirements such as application installation, password recovery or troubleshooting login, reduce work load for parts, technical support, and help customers to get quick support.
- Financial advice personalization: analyze transaction data and financial behavior of customers to take out these tips to personalize. For example, the chatbot can suggest solutions save or recommend investment products in accordance with the financial situation of each client.
- Handle loan request and credit: Help customers complete the loan procedure, to provide information about the package, loans, credit conditions, as well as the response to the question about interest rates and payment schedule. In addition, the chatbot also customer support prepare the necessary documents to process the loan.
- Detect and alert to unusual transactions: Chatbot WHO have the ability to recognize the transaction on suspicion of fraud in the customer account will be immediately alerted via sms or in-app notifications, bank requires confirmation from the customer to ensure safe transactions.
3.2. Blockchain technology
Blockchain is not only great strides in the technology industry, but also become important tools to bank of enhanced transparency, transaction security.
Ensure transparency and security of financial transactions: Blockchain use ledger distributed storage, check transactions in a transparent way, harder to fake.
In app billing cross-border and asset management number:
- Payments cross-border: Blockchain helps to reduce the time, cost, for international transactions, replace the system SWIFT traditions.
- Asset management number: The bank app blockchain to track, manage digital assets such as electronic money, stocks or bonds coding.
3.3 IoT technology (Internet of Things)
IoT is one of the technologies that help the bank expand connect with customers through smart devices, from that experience maximum utility.
Integrate smart devices into the banking application: IoT allows for connection and data exchange between the smart devices such as mobile phones, smart watches, or POS machine.
Utilities such as payment't touch: IoT technology support payments via NFC or QR code to bring the maximum convenience for customers at retail locations.
3.4 Cloud Computing technology (cloud computing)
Cloud computing has changed the way banks operate and store data, bring the flexibility, scalability superior.
Increased flexibility and the ability to expand the system: With cloud solutions, banks can easily expand the scale of operations increased demand without investing in physical infrastructure.
Cost savings and increased ability to recover data: Data stored on the cloud can recover quickly when incidents occur, help the bank maintain service continuity, security.
4. The state bank of Vietnam: the Benefits & Challenges for business
4.1 The state bank of Vietnam
Bank of Vietnam has made significant progress in the year 2024, with many commercial banks actively implement digitization services to enhance the customer experience and enhance operational efficiency.
Follow The state bank of Vietnam (SBV)many credit institutions has reached the rate of over 90% of transactions made through digital channels, about 77,41% of Vietnamese adults have a bank account.
In that 2 highlights the most remarkable it is:
- The advent of the banking application number such as Timo, VPBank ANCHOR, MB Bank App has expanded accessibility services for customers.
- Increased investment in technology, AI, blockchain and big data to enhance the user experience, ensuring secure transactions.
However, some challenges still exist, including infrastructure technology are security risks to the network, the level of tech-savvy of users is still limited.
4.2 Benefits
With advanced technology such as artificial intelligence (AI), big data (Big Data), blockchain, the bank of not only the solution to improve operational efficiency, but also opened up many new directions to enhance competition in the market.
- Process record, credit approval, insider trading is completely digitized, reduce errors, save time.
- Tools of chemical materials, such as electronic signatures and document management of the savings bank operating costs, improve work productivity.
- Limit depends on the branch of physics, thus saving operating costs, infrastructure and human resources.
- Deployment channel online transactions reduce the load volume of work at a traditional transaction.
- Banking service numbers to help customers make transactions 24/7 via mobile app or online platform without the need to branch.
- Integrated payment methods such as QR Code, e-wallets, contactless payments (contactless).
4.3 Challenges of deployment
- Investment cost, high-tech: The deployment of the banking system number requires large investments in infrastructure, technology and training staff
- Information security: the Risk of network security and data security is a top concern when switching to the bank number.
- Change your habits and awareness: Many businesses are afraid or are not yet familiar with the use of banking service numbers, requiring time, effort in the process of changing perception.
The banking sector in Vietnam are standing in front of big challenges like data security, optimize processes, enhance the customer experience. Solution to convert numbers from Lac Viet mix is the key to help banks overcome challenges and seize the opportunity to grow.
Tech ecosystem Lac Viet provide comprehensive solution from the software infrastructure to applications artificial intelligence (AI), optimizing all facets of operation, service banks.
Outstanding features
- Manage customer data effectively, build your strategy of care and personalization experience with LV-DX CRM
- Tools of chemical materials such as dispatch, credit profile, to integrate the electronic signatures help automate the process of internal processing, shorten the time, reduce errors.
- Support the banking development banking service number comprehensive, from non-cash payment, for electronic solution to transfer, fast.
- Meets strict requirements on transaction monitoring, risk management, minimizing the risk of violation of the law comply with Basel.
- Monitoring and detection of fraud transactions, reduce losses from the risks cyber security.
- Chatbot 24/7 customer support, improve efficiency, customer care, and reduce operating costs.
5. Top 5 bank pioneer the application of technology in Vietnam
Financial and banking sector, Vietnam has witnessed the transformation of strong in recent times. Many banks have rapidly deploy solutions modern technology to enhance the user experience, improve operational efficiency, strengthen security. Below is a list of 5 of the bank of Vietnam, a pioneer in the application of digital technology.
The Top 5 banks of Vietnam, a pioneer in the application of digital technology
5.1 Bank Timo
Timo is one of the top bank the first number in Vietnam, focusing on the banking experience completely online, without physical branch. Users can open accounts, make transactions, and financial management via mobile application easily.
Application technology:
- Integrated AI technology to support analysis of personal finance.
- Using QR codes and NFC in non-cash payment.
- System high security with biometric authentication.
5.2 Vietcombank
Vietcombank has many applications solution digitized aims to provide convenient services and optimize internal processes. Ecosystem VCB Digibank of them are appreciated by the convenience and diverse.
Application technology:
- Use AI to analyze customer behavior, from that personalization services.
- Blockchain to be deployed in international transactions to ensure transparency.
- Cloud computing help to optimize the ability to store and protect customer data.
5.3 Bank Techcombank
Techcombank invest heavily in technology to become the leading bank about digital transformation in Vietnam. System Techcombank App brings experience, comprehensive financial.
Application technology:
- Apply Big Data to understand the needs of customers, optimum business strategy.
- Integration of IoT in the banking products of such payment via smart devices.
- Upgrade security solution, multi-factor authentication (MFA).
5.4 MB Bank Bank
MB Bank is one of the pioneer bank provides banking services with no papers in Vietnam. App MB Bank App allows open account in 5 minutes with just ID/CCCD.
Application technology:
- AI assistance in account management, credit analysis.
- Cloud help expand and improve system performance.
- Integrated non-cash payment via QR code, e-wallet.
5.5 VPBank
VPBank has strong investment into the ecosystem, bank number, featured with application, VPBank NEO, meet the financial needs diversity.
Application technology:
- Using Blockchain technology to manage and authenticate the transaction.
- Cloud computing helps improve storage performance, data recovery.
- 24/7 customer support via chatbot AI.
The transformation of not just a trend, which is a decisive factor to the survival and sustainable development of banking in the digital age. By application, the solution of the goods, the bank number not only optimize the operational efficiency, reduce costs, but also improve the customer experience, security trading and market expansion. However, this process also requires thorough preparation, investment in technology, as well as change your thinking and strategy development.
CONTACT INFORMATION:
- Lac Viet Informatics Joint Stock Company
- Hotline: 0901 555 063 | (+84.28) 3842 3333
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