Mr. Tu Tien Phat - General Director of ACB - said: "To carry out comprehensive and effective digital transformation, we invest carefully, consider very carefully, and know how much revenue and profit the application brings to the bank, especially bringing many material benefits and joy to customers. We cannot immediately rush into any technology that the market has."
Profit increased 17 times thanks to digital transformation
Every year, ACB Bank invests 1,000 billion VND in general information technology development activities. Digital transformation activities are comprehensive, with indirect and direct impacts on the bank. In the most recent year, ACB brought in a profit of 17,100 billion VND (+40%).
Achievements in 10 years , ACB's credit and mobilization scale has increased 4 times , profit increased 17 times, while the number of employees only increased 0.3 times, the number of distribution channels also only increased 0.12 times.
In the past 5 years, the bank has witnessed a major turning point in digital transformation activities, when the number of transactions and transaction turnover increased 12 times.
ACB's credit scale has increased by 50% in the last 3 years, but no additional staff has been added. It is expected that in the coming time, ACB will grow rapidly without having to increase staff or expand its network.
Business model leading effective digital transformation
Although the amount of investment for digital transformation every year is not small, Mr. Tu Tien Phat emphasized that the business model must lead digital transformation , not information technology . From the business model, the bank has data, then sets the problem for technology to answer.
On the digital transformation journey, ACB chose a different direction, not wanting to copy existing models, so it is always ready to join hands with "big guys" such as FPT, VNG , ... to create new technology products, specifically for banks. This also encourages banks and financial technology companies (fintech) to go hand in hand. ACB connects externally, becomes an open bank, cooperates with Momo, Zalo Pay and many leading digital ecosystems in Vietnam.
In the past two years , ACB has had a drastic digital transformation roadmap, focusing on substance and practical efficiency. ACB also applies the Agile model to deploy applications as quickly as possible . The bank is also ready to cut off projects that are ineffective or outdated , instead of letting tens of billions of dong of investment go to waste.
Building a "full option" digital experience for customers
Putting customers at the center of development, ACB researches, listens to and strives to build customer experiences into a complete journey in the digital space.
It can be said that the ACB ONE application is gradually becoming a close friend of customers with features such as opening accounts and online authentication with eKYC identification technology and Video Call Face Identity, transactions bank , accumulate points to redeem gifts , cash back, participate in big promotions, along with exclusive travel and resort experiences ,... In the near future, ACB ONE will be developed into a "super application". Pay most of the expenses in daily life such as tuition, service fees or placing orders to buy - sell securities, managing personal assets , paying taxes, etc.
Also part of the ACB digital ecosystem, the upgraded website version with integrated AI Chatbot was deployed by the bank in early June, helping customers easily access information on banking products and services according to their own needs. The ACB website has a friendly interface, fast display speed, appropriate information distribution and is close to the mobile usage behavior of the majority of users today.
Most recently , marking the 30-year milestone, the bank launched ACB lite , an automatic banking chain that aims to provide conveniences suitable for a modern, compact life. ACB lite is not simply an ATM for withdrawing and depositing money, but also a place for customers to open payment accounts, print quick debit cards and many other services. In the development roadmap of ACB lite , these automatic transaction points can meet up to 80% of banking services.
Optimize employee productivity with Robotics
Robotics - modern and intelligent machines have been used by ACB , increasing productivity and business efficiency. Instead of needing 100 people for a business processing center at the Headquarters , ACB only needs 20 people. when applying Robotics .
If like before Bank employees have to fill out a lot of forms, strain their eyes reading financial reports, collect customer information, fill out tax invoices , etc. Now there is a Robotics application to replace it, it works faster, does not distort information, is both effective and avoids risks arising from emotions. Before, employees did 100%, now machines do 70%.
In 2023 alone, ACB plans to automate nearly 300 processes using robotics, and will expand to 1,400 processes by 2025, helping to save 1.4 million labor hours of more than 2,000 employees across the system. ACB believes that data analysis and technology will play an important role in optimizing labor productivity as well as minimizing errors .
Thanks to automation, bank employees can focus more on consulting, caring for and serving customers better. As a result, the quality of banking services is improved, satisfying customers so that ACB will always be the bank that many customers prioritize.
In short, digital transformation at ACB is the upgrading journey of each employee and the positive change of the organization, contributing to bringing many values to the bank in relation to the industry, customers, society and community as the message "Continuing values for the future" of the 30-year-old bank.
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