DNVN - Interactive banking platform technology company Backbase recently held the ENGAGE Asia 2024 event in Ho Chi Minh City with the participation of more than 150 customer experience directors, discussing the topic "Reimagining Banking", focusing on AI-driven strategies...
Underscoring Backbase’s commitment to the region, Backbase CEO and Founder Jouk Pleiter announced the launch of Backbase’s first Global AI Center of Excellence in Ho Chi Minh City. This strategic move underscores Backbase’s commitment to driving innovation in banking in Asia.
ENGAGE Asia 2024 showcased the region’s progress towards Banking 4.0, highlighting the success of five banks using the Interactive Banking Platform. These banks have designed digital banking solutions, omnichannel experiences, personalized and humanized banking services, and non-banking initiatives to achieve steady growth in customer acquisition and satisfaction, along with differentiated digital journeys that enhance brand preferences and drive business benefits.
In two years, Techcombank's new customer base has increased 20-fold, with online transactions now accounting for more than 94% of total transactions. Three months ago, ABBANK launched the ABBANK Business application and has quickly and successfully converted 100% of its corporate customers to the new platform.
Mr. Jouk Pleiter, CEO and Founder of Backbase.
OCB launched the OMNI 4.0 application in just 6 months - three times faster than the industry standard for omnichannel banking platforms. This rapid deployment saved approximately 40% of the time. The application has achieved a 61% increase in transaction volume compared to the same period last year and a 25-fold increase since 2018, setting a new standard in the Vietnamese banking industry.
Continuous innovation in Backbase’s Interactive Banking Platform, particularly its AI and data capabilities, helps banks build stronger relationships with customers across key stages: customer acquisition, activation, expansion, and retention. As digital banking platforms evolve into growth engines, they are increasingly designed to maximize customer lifetime value.
In the customer acquisition phase, AI-driven recommendations leverage open banking data to deliver personalized product recommendations, treating each customer as an individual and a segment of a customer at scale. In the activation phase, the platform uses scheduled triggers and intelligent suggestions to encourage product adoption, replacing traditional proactive marketing methods. For bankers, AI-driven insights simplify the identification of new audiences and facilitate rapid, efficient segmentation opportunities.
In the expansion phase, AI will analyze spending patterns to match consumers with the most suitable credit products. To retain customers, predictive analytics will encourage repeat business by anticipating customer needs. Backbase’s platform, which aims to improve the user experience (UI/UX) of interactive banking applications, using AI to create intelligent and effective conversations, will drive advancements in the banking community.
Banking 4.0 focuses on creating seamless, customer-centric experiences by leveraging technology to tailor services to individual needs. AI plays a key role in this evolution, enhancing customer interactions and optimizing operations for increased efficiency and engagement.
Tram Ngoc
Source: https://doanhnghiepvn.vn/kinh-te/tai-chinh-ngan-hang/ngan-hang-noi-but-pha-nho-cong-nghe-ai/20240926035734169
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