ANTD.VN - On November 8, 2023, MB organized an international conference "Digitalize to Revolutionize - Shaping the future digital economy" with the goal of bringing practical digital transformation lessons from the world's leading experts. The activity is part of a long-term annual plan to bring advanced methods and practical lessons from around the world to MB and its partners, thereby contributing to unleashing national resources for the process of creating a sustainable digital economy.
The international conference “Digitalize to Revolutionize - Shaping the future digital economy” connects Vietnamese policy makers and businesses with speakers from Columbia Business School. With many years of in-depth research on digital transformation and experience in strategic consulting for the world's leading corporations, the trio of speakers David L. Rogers, Sheena S. Iyengar and Paul J. Bailo will share practical methods and lessons that can be quickly applied to the process of building a national digital economy in general and the digital transformation strategy of each enterprise in particular.
Digital transformation is no longer a distant future
A few years ago, the phrase “digital transformation” was still mentioned as a cautious investment, a distant future prospect. However, the development of technology and new business models have made digital transformation a strategic requirement, inevitable for the survival of every country or business.
In Vietnam, in June 2020, the Prime Minister issued the National Digital Transformation Program, setting the goal of developing a digital government, digital economy, and improving the competitiveness of the economy; by 2030, the digital economy will account for 30% of GDP. A series of policy solutions as well as efforts by leading organizations and enterprises have created an innovative and digitalized Vietnam in many areas of operation, especially the banking sector.
In the context of digital transformation becoming an irreversible trend, Vietnam has been implementing many drastic digital transformation actions. According to statistics from the State Bank of Vietnam (SBV), by the end of 2022, the banking industry had invested more than 15,000 billion VND in digital transformation activities and made Vietnam one of the leading countries in applying digital banking (40% growth rate in digital payments in the past 3-4 years). Up to now, up to 96% of banks in Vietnam have been building a digital transformation strategy and 92% of banks have developed application services on the Internet and Mobile.
However, implementing digital transformation comprehensively, effectively and sustainably is still a big problem for many organizations and businesses of all sizes. According to survey results from a number of strategic consulting firms such as McKinsey and BCG, more than 70% of digital transformation projects at businesses do not meet expectations or sustainable growth results. It can be said that digital transformation requires organizations to be constantly ready to face market fluctuations, changes in customer behavior, technology investment risks, etc. Difficulties in financial resources, human resources, infrastructure and a systematic digital strategy, etc. are all difficulties that increase the risk of failure in actual implementation.
Launching the international conference “Digitalize to Revolutionize” - “Shaping the future digital economy”
With the mission of "For the development of the country, for the benefit of customers", MB always wishes to join hands with the Government, the banking industry and partner businesses to promote digital transformation, contributing to building the image of Vietnamese banks as well as Vietnamese businesses as professional, effective, and steadily moving forward to compete and integrate.
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With that wish, on the occasion of its 30th anniversary (November 4, 1994 - November 4, 2023), MB organized the international conference Digitalize to Revolutionize - Shaping the future digital economy, to connect and spread the digital transformation vision from the world's leading experts to Vietnamese organizations and individuals. The event brought together the world's leading speakers in the field of digital transformation and art selected from Columbia Business School, including:
· David L. Rogers: Digital transformation expert with experience in senior strategy consulting for the world's leading corporations such as Google, Microsoft, CitiGroup, Visa, HSBC, Unilever, Toyota and many other prestigious organizations. The book "The Digital Transformation Playbook" by author David L. Rogers has been published in many countries around the world, becoming one of the most worth-reading books on the reality of digital transformation implementation.
· Sheena Iyengar: Professor from Columbia Business School is the world's leading expert on innovation and the art of choice. Quoted in many of the world's leading prestigious press agencies such as The New York Times, The Wall Street Journal, Fortune and Times magazine, BBC, her research has been welcomed and applied at many of the world's leading corporations such as Microsoft, Deloitte.
· Paul J. Bailo : A genius in product design, a senior advisor to leading US companies such as Apple, AT&T, Bank of America, Goldman Sachs, Mastercard, General Motors. With extensive experience in digital transformation, digital marketing, digital business operations, and digital experience design, Paul J. Bailo has successfully implemented many complex and challenging digital transformation projects.
Sharing the same national digital transformation process, MB has implemented a digital transformation strategy in the Group's operations since 2018 through strategic cooperation with IBM Technology Group (USA). With three pillars of "People - Resources - Speed", MB's digital transformation strategy improves each touch point with customers, enhances technological capabilities, promotes the group's creative culture and develops a sustainable digital ecosystem. As a pioneer bank following the "self-serving" and "all-in-one-app" trends, MB's products aim for convenience, ease of use and flexibility on the MBBank App for individuals and the BIZ MBBank App for businesses. Thanks to the comprehensive digital transformation strategy focusing on customers, MB has risen to the top in terms of excellent customer experience and the ability to serve a wide range of financial needs.
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MB's digital transformation efforts have been recognized through a leap in customer size, increasing the number of customers from 5 million in the first 25 years to 25 million in 2023 (as of September 30, 2023). MB achieved 1.6 billion transactions on digital channels, of which the MBBank App alone recorded 20 million transactions/day. In the first 10 months of 2023, MB achieved VND 21,960 billion in pre-tax profit, an increase of 10% over the same period in 2022 and reaching 84.1% of the 2023 plan.
With this result, MB rose to the Top 1 position among joint stock commercial banks in terms of pre-tax profit, and MB's efficiency indicators (ROA, ROE, bad debt ratio, labor productivity) remained at the top of the entire banking industry. MBBank App has been in the top of the most downloaded applications on the App Store Vietnam for 3 consecutive years, demonstrating the acceptance and support of customers. MB is proud to own 4 solutions honored at the Vietnam Digital Transformation Awards 2023 (VietQR, Hi Collection Card, App Market and Online Loan Solution).
The special international conference Digitalize to Revolutionize organized by MB will take place on Wednesday, November 8 at Lotte Hotel Hanoi - 54 Lieu Giai, Ba Dinh, Hanoi. "Through the conference, we want to affirm the value of a successful digital transformation organization, and at the same time, we are ready to connect, cooperate, and support to bring benefits to partners, customers, and large enterprises in Vietnam in the process of realizing the goal of national digital transformation", said a representative of MB.
Program details here .
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