Global Economics Magazine (UK) has just announced that OCB is one of two banks in Vietnam to be honored for the 2023 award category. Of which, OCB is the only bank to be named in the category of "Most Customer - Centric Digital Banking Service Provider 2023".
OCB is the only bank named in the category of "Outstanding Digital Banking Service Provider" - Photo: VGP
This award recognizes the achievements of the pioneering journey of comprehensive digital transformation of Orient Commercial Joint Stock Bank (OCB) in recent times, when launching many digital products and financial solutions for each segment to optimize customer experience.
Mr. Nguyen Van Huong, Deputy General Director in charge of retail at OCB, said that building and distributing banking products in today's digital age must be based on understanding each customer segment.
To do this, banks must apply technology to analyze behavior, consumer trends, age, gender, etc. from large databases, in addition to examining customer experiences through surveys and assessing customer needs. Therefore, banks must understand what customers need, want, what is really important to customers, etc., and then meet the right needs. Only then can products be successful because they meet the needs and desires of customers.
In that trend, in 2022, OCB launched the online home search and loan platform Unlock Dream Home. The target customers of this product are young families living in big cities.
Therefore, the bank has evaluated and analyzed the behavior of this customer segment.
The results show that the income of this customer group is only at an average level and they have to cover their living expenses and raise their children, so their savings are quite small. Therefore, the home loan product for this customer group must be designed with a longer loan term than usual, up to 30 years because young people still have a long time to contribute. Therefore, the product is designed to allow customers to pay less principal in the first years and then gradually increase it later to reduce their pressure, more suitable for the trend of increasing income with age.
In addition to distributing products in the traditional way, the bank also cooperates with real estate distribution units to create an online home search and loan platform. All loan applications are done online and customers can track their applications directly on the platform.
By understanding the real needs of customers, the Unlock Dream Home platform has received great popularity. Although it has just been launched, there have been more than 300,000 visits to the Unlock Dream Home website; more than 7,700 people have registered for consultation, more than 100,000 diverse real estates in many provinces and cities, and thousands of customers have accessed loans and owned their dream homes.
Unlock Dream Home – a chance to own a dream home for young families – Photo: VGP
2022 is also a year that marks strong growth in OCB's retail activities thanks to the continuous launch of popular digital products such as: Short and beautiful account numbers; digital payment solutions for businesses - OCB ProPay; iGen non-physical card...
Particularly for OCB OMNI digital bank, the number of users increased 1.7 times compared to the same period in 2021. Of which, newly registered customers increased by 200%; the total number of transactions increased by more than 83%. The online savings deposit product (eSaving) on OCB OMNI has become a trusted choice and attracted a large number of customers to open online savings books due to the attraction of preferential interest rates, attractive gifts and flexibility when opening. According to statistical data, the total amount of online savings deposits on OCB OMNI in 2022 increased by 55% compared to 2021.
Continuing to promote digital transformation activities, in March 2023, OCB launched a new generation digital bank, Liobank, exclusively for young customers who love technology.
Liobank has outstanding features such as issuing 2-in-1 cards (combining credit cards and debit cards - ATM cards); receiving non-physical cards after successful registration; choosing the location and time frame to receive physical cards on the application; delivering physical cards the next day, credit limit up to 300 million VND; shaking the phone to transfer money, transferring money in response to the sender without knowing the account number, transferring money to Liobank users in the phone book, naming folders to manage utility bills...
“The main goal of digital transformation in the banking industry is to improve customer experience. Therefore, products must be built faster, smarter, simpler and more convenient to create a competitive advantage. However, we believe that even when the product has been favored by customers, banks themselves must constantly evaluate and improve to bring customers new experiences. OCB being honored in the category of "Outstanding Digital Banking Service Provider 2023" is the motivation for us to continuously implement the digital banking transformation strategy, bringing optimal experiences to each customer segment", Mr. Nguyen Van Huong shared.
Source: https://baochinhphu.vn/ocb-nha-cung-cap-dich-vu-ngan-hang-so-tieu-bieu-viet-nam-102230702073943086.htm
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