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DIGITAL BANK TRANSFORMATION STRATEGY
OF LIENVIETPOSTBANK
M r. D u o n g Tr o n g C h u – D i r e c t o r o f D i g i t a l B a n k D i v i s i o n
INCLUSIVE FINANCE IN VIETNAM
DIGITAL BANK TRANSFORMATION ROADMAP
I.
II.
III. LIENVIETPOSTBANK OVERVIEW
IV. DIGITAL BANK TRANSFORMATION STRATEGY
V. VI VIET and LIENVIET24H
INCLUSIVE FINANCE IN VIETNAM
95.5
Key Index14.5%
Adult with Savings Account
21.7%Adult with Loans
Account
40.8%SME’s approach with
Loans
25.2%Adult with Bank
Account at Rural Areas
68%Smartphone penetration
INCLUSIVE FINANCE IN VIETNAM
DIGITAL BANK TRANSFORMATION ROADMAP
I.
II.
III. LIENVIETPOSTBANK OVERVIEW
IV. DIGITAL BANK TRANSFORMATION STRATEGY
V. VI VIET and LIENVIET24H
DIGITAL BANK TRANSFORMATION ROADMAP
• To develop an ecosystem, expand the operation network, diversify cross-selling services, improve utilities to maximize benefits for customers
• To enhance customers’ experience, focusing on personalize users’ experience on a unified platform
• To improve the consistency, focus on customer interaction and experience
• Electronic banking platform including Internet Banking and Mobile Banking
Digital Bank 1.0
multi -channel
Digital Bank 2.0
omni -channel
Digital Bank 3.0 Banking without a
bank
Digital Bank 4.0
Banking as Experience
CHALLENGES
Legal framework: less support from legal framework, there are many limitations in regulations on the
followings:
• Agent banking
• eKYC process, e-signature in banking transaction
• Bank can not provide online lending
Risk management, including:
(1) Strategy risks;
(2) Legal risks;
(3) Technology risks;
(4) Operation risks;
(5) Finance risks;
(6) Fraud risks
Customers habit: more than 70% of payment transactions in Vietnam still prefer cash payment, Vietnamese are
not used with and don’t really trust on online transactions
Big investment and deployment resources requirement
INCLUSIVE FINANCE IN VIETNAM
DIGITAL BANK TRANSFORMATION ROADMAP
I.
II.
III. LIENVIETPOSTBANK OVERVIEW
IV. DIGITAL BANK TRANSFORMATION STRATEGY
V. VI VIET and LIENVIET24H
LIENVIETPOSTBANK OVERVIEW
Established on March 28th 2008
Mission
To provide customers and society a wide range of high quality products &
services. To bring the highest benefits to LienVietPostBank and society
Network
Nearly 500 Bank-owned Branches/Transaction Offices; 1,000 PTOs in
63 cities and provinces nationwide
Number of customers: over 4.5 million customers
Future expansion (by 31/12/2020)
To be present in every district of Vietnam with over 800 bank-owned
branches and transaction offices. To develop 50,000 merchants and
transaction points across every commune nationwide
Vision
To become the leading retail bank in Vietnam – a Bank for everyone
KEY FINANCIAL FIGURES
6.402
7.288 7.671
8.191
376 419 447 512
5.009
6.045
7.011
5.608
3.595
4.598
5.340 5.571
-
1.000
2.000
3.000
4.000
5.000
6.000
7.000
8.000
9.000
2016 2017 2018 Jun-19
Total Assets Owner's Equity Total deposits Total outstanding loans
13th
Total
Assets
13th
Total Outstanding
Loans
11th
Total
Deposits
2nd largestNetwork
Unit: million USD
Key financial figures
(from 2016 to June 2019)
Competitive Landscape
(as of June 30th 2019)
INCLUSIVE FINANCE IN VIETNAM
DIGITAL BANK TRANSFORMATION ROADMAP
I.
II.
III. LIENVIETPOSTBANK OVERVIEW
IV. DIGITAL BANK TRANSFORMATION STRATEGY
V. VI VIET and LIENVIET24H
11
DIGITAL BANK TRANSFORMATION STRATEGY
Develop omni-channel transaction plaform integrating all channels, to apply modern technology to
control risks, increase safety and security in transactions, as well as maximize benefits for
customer and enhance customers exepirence
• Corebanking upgrade
• Apply new technologies including cloud computing, AI, tokenization, blockchain, API (Application
Programming Interface), Machine learning, Chatbot in developing digital bank platform
Connect more partners to develop the ecosystem, diversify banking products and services
Expand the market, scope of service providing to other countries (South Korea, Japan, China, and
globally)
INCLUSIVE FINANCE IN VIETNAM
DIGITAL BANK TRANSFORMATION ROADMAP
I.
II.
III. LIENVIETPOSTBANK OVERVIEW
IV. DIGITAL BANK TRANSFORMATION STRATEGY
V. VI VIET and LIENVIET24H
Vi Viet, the first version of digital bank application of
LienVietPostBank, was officially launched in September 2016.
Technology platform serves the Bank’s retail strategy, aiming at all
classes, especially 70% of Vietnam’s population without bank account.
TỔNG QUAN VÍ VIỆT
Multi-layer authentication system (password;
OTP; device authentication; biometric
authentication (fingerprint, faceID, iris; public
key security, etc)
Advised and verified by many leading
security partners
S A F E T Y
Non-physical prepaid card operates as digital bank and online
payment gateway, cashless payment method for all transactions & e-
commerce.
Smartphone application – Easily register and utilize with devices;
abundant ecosystem
Fast payment for more than 200 services (utility bills, tuition fee,
online shopping, etc)
24/7 online banking services
C O N V E N I E N C E
Using without bank accounts
Full support for
payment and
digital banking
services
RICH FUNCTION SET
ADVANCE
support
platform for
partners
24/7 ONLINE BANKING SERVICES
Online savings, deposits-sercured loans, banking statement inquiry
Cash in/out, money transfer: betweens Vi Viet accounts, Vi Viet
accounts – domestic banks account, cash in at banking counters of
all banks in Vietnam
PAYMENT SERVICES
PAYMENT FOR
MORE THAN 200 SERVICES
QR code payment, bill/
public service payment,
mobile top-up, online
shopping and entertainment
UTILITIES
Payment assignation, debt notification, Gift giving Voting, etc
Personalized functionality; product and service suggestion by
location and map
MERCHANT SUPPORT
Sales management, marketing, revenew management, nearby function
PAYMENT PLATFORM
Payment gateway, App to App SDK, App in App SDK, connected platform which allows partners to integrate
payment services into their services
FOR ALL SEGMENT, BOTH
BANK AND UNBANK USERSCARD SERVICEPayment from virtual card, card information inquiry, new card opening, Card statement, card opening/close
VI VIET INTERFACE
VI VIET INTERFACE
SECURITY DESIGN
MODERN TECHNOLOGY
Security method
with HTTPS
Transmission line
security with SSL
Certified by
GLOBAL SIGN
Use public lock
infrastructure
Identify user with
digital signature
Identify user with
digital signature
Sign up with user
or password
OTP code
authentication
Device
authentication
Authentication
request sent to
original device in
case user uses
different device
Transmission
line security
Data encrypt & transaction
authentication
Multi-layer
authentication
Device identification
and limitation
VI VIET PERFORMANCE (From Sep 2016 to Sep 2019)
USD 2.3 billion
Remittance value
USD 136 million USD 480 million USD 68 million
Online lending Bill paymentOnline savings
21 million
No. of transactions
USD 5.6 billion
Total transaction value
40,000
Merchants
3 million
Users
USD 2 billion
Cash in
IMPLEMENTATION RESULTS
Co-operation with Bac Ninh Province, Phu Yen Province, Hau Giang Province to build smart cities &
electronic government, as well as to promote cashless payment
IMPLEMENTATION RESULTS
Co-operation with many foreign partners to develop digital bank platform
AWARDS AND REGCONITION
23
LIENVIET24H
• To link all account/card sources into a single management system
• Comprehensive card management (issusance, new card registration, activation, card opening/close, transaction
statements, credit card payment, PIN change, etc)
• Comprehensive management of bank accounts and customers’ payment services on an omni-channel platform
• Online loans application, disbursement and loans management
• Integration with CRM, Credit Scoring system for online micro and consumer lending
IS THE VI VIET UPGRADED VERSION FOR OMNI CHANNEL DEPLOYMENT
• Developed by Lien Viet Technology Development Company (LienVietTech)
• Intergrate all online banking transaction channel into a single platform supporting both banking users and unbank
segment to experience 3 in 1:
Vi Viet application
Internet Banking & Mobile Banking
Card service and management
• Support Offline channel: at counters (document selection/cash management) and ATM (cash withdral by scanning
QR code)
SIGNIFICANT FUNCTIONS:
24
LIENVIET24H
HOME
Vi VietDigital Banking
Card Service
LIENVIET24H
Web application for customers – integrating Internet Banking and ViViet.vn▪ To intergrate Internet Banking, ViViet.vn and card service manament into a single
website
Teller system at counters▪ To provide a teller application for tellers to perform all operations related to Vi Viet,
Internet Banking, Mobile Banking and card service
Mobile applilcation for customers (IOS, Android) – integrating Vi Viet application and
Mobile Banking
▪ To intergrate Mobile Banking, Vi Viet application and card service manament into a single
platfom
LIENVIET24H – SERVICE AND FUNCTION
Card service
Digital
Bank
Vi Viet
▪ Remittances
▪ Payment
▪ Savings account
▪ Loans application
▪ Banking statements
▪ Payroll service
▪ Corporate banking
▪ Online registration
▪ Cash in/Cash out
▪ Money transfers
▪ Payment with QR code
▪ Bill payment
▪ Account balances
▪ Online shopping
Card information
Money transfers
Payment
Statement, balance
Open/Close Card
PIN reset
27
To develop technology platform as the core to
connect and build the finance and payment
Ecosystem
Creating solutions such as CRM, Loyalty program,
Sales management, Billing, Booking, etc with
payment gateway on cloud plaform for partners
(Finance company/ Telecom/ Logistics/ Education/
Real Estate/ Insurance/ supply chain, e-commerce,
etc) to join the Ecosystem at low cost (or free of
charge).
Mining data from partners to deploy financial
services.
Expanding the merchant network outside Vietnam
BANKING SERVICES
PAYMENT, OTHERS
Technology Company
WholesalesRetails
Suppliers
Telecom
Logistics, Taxi
Enterprise
Consumers
Payroll
Social Security
Remittances
Loans
Mobile, Internet, TV
Onlineshopping
Bills TaxiLogistics
Others
Savings
Bank
Finance Company
PublicServices
Tuition fee
Appartment
Insurance
Utilities
School/ University
Insurance Company
Smart City
PHÁT TRIỂN HỆ SINH THÁI
4.0 INDUSTRY REVOLUTION
Cloud service usersWhere is our data?We are concerning about security issue
In the near future, we believe that BlockChain with decentralizeauthentication and storage mechanism will be the foundation of trustwithout the requirement of an intermediary authentication organization.
4.0 INDUSTRY REVOLUTION
BigData + AI: datacollection and analysisfrom many sources such asSocial Network, CIC, Telco,user behavior
Effective tool for retailbanking- Credit scoring support- Personalized CRM
LIENVIETPOSTBANK
LienVietPostBank is open to
discuss for collaboration,
connection with all patners,
accelerating to process of digital
transformation and ICT
infrastructure development in
Vietnam
THANK YOU