Segmented sales strategy boosts MSB business

MSB divides customers into segments with a deep understanding of the specific needs of the target customer group, thereby offering a series of suitable solutions, from accounts to savings, credit cards, mortgages, unsecured loans... The product group allows users to easily access. When using a product, customers can connect to other products and services and receive many additional values.

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Typically, individual customers, salary base (SB) and business owners (BO) can transact completely online from account opening to registration, issuance and management of financial products such as payment cards, credit cards or loans. With just 1 minute of operation on the MSB mBank application, customers can easily open a payment account package through the electronic customer identification feature and immediately enjoy many outstanding incentives such as unlimited free transfers, free cash withdrawals at the counter, refunds up to 3.6 million VND/year... Also on the mobile banking platform, eligible customers can register to open a credit card, online overdraft with a pre-approved limit, without having to provide documents proving income, and at the same time disburse online. “It can be assessed that MSB mBank is a financial application that integrates the “personal financial assistant” feature, providing useful tools for users with a comprehensive picture of financial health” – said an MSB representative.

Similarly, corporate customers can easily register for an M-smart account and enjoy a 100% exemption from online money transfer fees and many other fees, receive a refund of up to VND 2 million/month, 0.5% interest on payment account balances and up to 150 points in discounts compared to the listed exchange rate when buying and selling foreign currencies online. In addition, customers have the opportunity to be granted a comprehensive credit limit of up to VND 200 billion with diverse forms such as unsecured loans, mortgages, corporate credit cards, letters of credit (LCs), etc. Depending on the type and scale, MSB offers loan packages and policies suitable to the needs of the business. Disbursement is also done online, helping businesses simplify paperwork and access credit packages more quickly and easily.

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Mr. Nguyen Hoang Linh - General Director of MSB shared: " Currently, if providing a product - service package that "hits" the needs is the way to approach and attract customers, then bringing added values will determine the long-term connection of users. At MSB, we want customers to be able to increase benefits from the simplest and most common transactions, or make effective profits from their own cash flow or account balance. To do this, a segmented sales strategy is the key factor, when based on research, data and experience, we can accurately assess the priority points and easily adjust when necessary" .

The segmented business strategy and increased experience on the digital journey have directly impacted MSB's business results. In the first 6 months of the year, the growth rate of new individual customers on digital channels reached 79%, an increase of 22 percentage points compared to December 31, 2022. The number and total value of transactions on Internet Banking and Mobile Banking channels reached 47.5 million transactions and VND 578,000 billion, respectively. The number of new individual and SME customers via the eKYC channel increased by 311% and 43% compared to the same period in 2022. In total, MSB is currently serving over 4.5 million individual customers and nearly 72,000 corporate customers.

Customer loyalty and the choice of MSB as the main transaction bank also boosted the ratio of demand deposits to total deposits (CASA). According to the latest business data, MSB is in the top 4 banks with the highest ratio in the market. The bank aims to boost the ratio of demand deposits to total deposits from now until the end of the year, continuing to be in the leading group of the industry.

Serving customers by segment is a clear demonstration of the correctness of the “customer-centric” strategy that MSB has pursued for many years. In the coming time, through research on tastes and collecting real-time user feedback, MSB will continue to design and launch a series of specialized solutions, thereby accompanying customers to “reach new heights” in all financial transactions.

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