19 April 2024

All about the customer experience

Banking & Finance
| The European |

Following a year of transition, SCB has implemented a series of strategic measures to deliver greater flexibility than ever before to its broad customer base

Among Vietnam’s key players, Sai Gon Joint Stock Commercial Bank (SCB) is projected to increase its charter capital by VND5,000bn to VND20,232bn ($870m) in 2020. This increase is a crucial part of SCB executing its medium-term strategy of expanding operating scale and boosting sales targets. 

2019 was a year of transition for SCB, yet the bank achieved an outstanding rate of growth thanks to its diversified product range and improved quality of service. This, as well as the continued implementation of modern banking technology underlined SCB’s commitment to its customers, and demonstrated a sustainable business model that meets profit targets. As of 30 June 2020 SCB’s total assets reached VND598,412bn ($25.7bn), an increase of VND30,499bn from the beginning of the year. SCB continues to be among the top five biggest commercial banks in Vietnam and a leader among private joint-stock commercial banks.

Big plans ahead

Driven by a strategy of transformation and sustainable development, SCB now has its sights set on becoming a leader in terms of service quality and customer experience. This promotes a culture that reflects its status as one of Vietnam’s top five banks in terms of total assets.

This year the bank expects to increase net revenues from services by 40%, and increase insurance revenues 70% compared to 2019. It also aims to reach 30,000 customers digitally and promote the number of newly issued international credit cards by 50,000.

To achieve these targets, SCB has made the customer experience its top priority and unveiled a strategy to streamline its business model – separating retail and corporate banking; enhancing services for its Premier members (a scheme available to high-net-worth individuals), and implementing direct sales channels.

SCB provides its Premier members with an exclusive, personal consultation service and is the only bank in Vietnam to do this: SCB Premier operates globally, 24/7 and has a wide range of benefits. The bank is also developing a savings product called “Tien gui online” (online savings), which safely and securely sends details of savings to the customer via email. 

SCB has also made a breakthrough in community-oriented products with its S-Care international credit cards. And there are new insurance products including “Bao hiem ung thu toan dien – Tam an 360” (Overall cancer insurance – 360 assured) and “Tiet kiem song hanh – Bao hiem toan tam” (Efficient savings and insurance). Both products help to provide a healthcare safety-net for customers and their families. 

SCB is supporting its customers through the coronavirus crisis with a range of initiatives including “Tiep von kinh doanh – Vung manh tai chinh” (Fund supplementation – Solid financial foundation); “Dau tu truc tuyen” (Online investment); “Tang uu dai – Them phat tai” (More preferences – More prosperity) and; S-COMBO current account package.

Businesses requiring funds for purchasing goods and materials, or supplementing working capital due to the pandemic will benefit from favourable interest rates for up to 12 months.

SCB’s customers also receive other benefits, such as a 0.5% decrease on interest rates for newly-disbursed annual loans; discounts of 10% to 20% on international payment fees; 20%  discounts on fees for a range of services, including money transfer via internet, transactions via fax, receiving bank statements via emails, and much more. 

In the near future, SCB will launch the new version of their mobile app. Integrated with AI, this new app allows customers to manage their finances; while businesses can manage their payroll service, make payments, and organise loans and deposits in a more convenient way than ever before. ν

Further information 


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