The second annual World Financial Innovation Series, held in Hanoi in April, attracted over 500 financial sector professionals who discussed the industry’s latest technological advances, including in areas such as cloud technologies, generative AI, fintech leaps and digital banking.
Pranav Seth, Techcombank’s Chief Digital Officer and keynote speaker at the event, told audiences that the bank’s recent 22% year-on-year profit before tax can be attributed to its digital capabilities.
“What we have been able to do is massively scale up our acquisition efforts,” he said. “Last year, we acquired about 2.3 million high-quality customers and created one of the highest digital engagements with them. Our customers interact with us around 50 times a month, and for each of those opportunities, we use all the data that we have.”
The event attracted a blue-chip lineup of thought leaders from Vietnam’s top banks, financial institutions, and technology companies, including UNOBank, Southeast Asia’s first fintech to win a digital banking license.
“With modern technology you can establish a fully compliant bank in a relatively short span of time,” Chairman Kalidas Ghose told the conference. “The UNObanking model is purely digital so we do not have any physical presence like branches or ATMs. While on one hand that can act as a constraint, on the other, it can open up a world of opportunities for reaching out to a larger audience of customers”.
“We have acquired close to 1.5 million customers in less than 15 months, and this has been possible because of the strong partnerships and the very efficient organic channels through which we acquire customers.”
