Successful digital transformation requires a change of mindset

Ms. Nguyen Duc Thach Diem, Member of the Board of Directors cum General Director of Sacombank said that digital transformation is not simply the implementation of new technology projects.
Digital conversion is considered a vital issue for banks today. Can you share your views on the importance and goal of digital transformation at Sacombank?

Digital has created fundamental changes in socio-economic life, changing daily lives of people, from the way of working, communicating, communicating, shopping … and the way transactions with banks.

Banks in Vietnam have begun to put digitization into one of the most important goals in their development plans, in order to meet the increasing needs of customers as well as create a competitive advantage for themselves.

Sacombank soon identified technology as the mainstay in its development strategy, paying special attention to investing in digital transformation, creating a solid foundation for the comprehensive development of the bank in line with industry trend 4.0. .

Accordingly, the two main goals that Sacombank aims at on the digital transformation journey include: optimizing customer experience; optimize operational efficiency, improve governance and labor productivity.

I think digital transformation is not just about new technology projects, but it is necessary to change the mindset, change the business model and processes, improve the digital skills and competencies in the organization to be successful. .

What specific results has Sacombank achieved on its digital transformation journey?

For customers, since 2010, Sacombank has applied digital technology to create modern transaction channels such as customer service centers, and applied the first integrated banking model of online transaction channels at Vietnam (Internet Banking and Mobile Banking), is also the first bank to obtain PCI DSS security certification and 3D secure application in e-commerce payment transactions in 2013.

In 2017, Sacombank issued the first contactless payment card in the market and deployed the global EMV standard QR payment method. By 2018, we will launch the Sacombank Pay financial management application on smartphones …

Besides, we also focus on converting the number of internal activities. In 2018, digitizing sales processes, customer service and marketing (CRM), applying a digital work environment (Microsoft Team), digitizing business processes and online approvals towards paperless offices, use cloud computing.

In 2019, we digitize the credit approval process (LOS), deploy online training, upgrade the T24-R17 core bank, apply artificial intelligence (chatbot), Robot technology (RPA – Robotic). Process Automation) …

In particular, in 2020, Sacombank will be the first bank to successfully convert the method of holding the General Meeting of Shareholders to online and electronic voting. We also initially operate the Security Operation Center according to international standards.

This is a bright spot in the digital transformation journey because not many banks in Vietnam operate this center properly.

How has the early promotion of digital transformation affected the Bank’s business performance?

Digital transformation has created strong changes and brought great efficiency to Sacombank.

In addition to increasing labor productivity and quality of work significantly, we also save a large amount of operating costs and personnel costs when applying electronic business processes, online meeting; Processing time is also much improved compared to before.

Moreover, when we meet the demand for finance and electronic payment in line with the trend, the competitiveness of the Bank will also increase, thereby increasing revenue and profit.

Specifically, service revenue through digital banking channels in recent years has grown by an average of over 25% per year; sales of non-cash payments each year increase 50%.

Banks and financial institutions are investing heavily in the technology system. So what is the difference in products based on modern technology of Sacombank?

Sacombank invests in modern payment technology and platforms from the beginning, so the payment services are synchronized and bring many benefits to customers.

We are the first bank to issue and accept standard EMV cards on all POS and ATM machines (in 2015), issue EMV Contactless cards, accept global QR payments (in 2017), and Leading provider of payment infrastructure services for e-commerce businesses, payment intermediaries.

Currently, Sacombank is leading in the number of payment accepting units as well as in terms of online payment sales in the market.

Always a pioneer in technology platforms, Sacombank is chosen by reputable card organizations to deploy new technologies to the market.

We have supported payment intermediaries to jointly implement market trends such as Mobile POS payment, QR code payment on most of the QR standards in domestic and foreign markets such as VNPAY, Visa. , MasterCard, JCB, UPI, Napas …

Last August, Sacombank applied many of today’s most advanced technologies to launch the online authentication feature (eKYC). In the next November, we will deploy HCE technology, turning the customer’s smartphone into a non-physical EMV Contactless card (virtual card) for touch payment.

In December 2020, we will deploy Tap to Phone technology, turn smartphones into an NFC POS machine, help businesses accept EMV Contactless card payments quickly, easily and save investment costs. .

Information security is a big issue for businesses, especially banks in the digital age. How does Sacombank solve this problem, ma’am?

Not only investing in payment platforms and technology, but we pay great attention to ensuring information security.

Sacombank is the only bank that has obtained the PCI DSS card payment security certificate for 7 consecutive years since 2013 and will strive to maintain it in the coming years.

With this certificate, Sacombank is always selected by card organizations to deploy new technologies with accompanying security requirements such as money transfer service via Visa, MasterCard, non-physical card issuance, acceptance and payment. payment by QR code via Open API platform.

For online payment transactions on e-commerce sites, we have applied security technology to encrypt card information and authenticate 3D Secure e-commerce transactions to protect cardholders.

The bank has also implemented an anti-fraud mechanism (fishing) on ​​the e-banking website to help customers identify, avoid accessing and providing login information on fake websites.

Equipped with IBM Trusteer security technology for devices and terminal access points to add a layer of security to payment applications.

In addition to the Cyber ​​Security Operations Center, we are continuing to implement information security projects in consultation with a leading company on security and security to further enhance protection for banks as well as customers.

Source: https://tinnhanhchungkhoan.vn/chuyen-doi-so-thanh-cong-can-thay-doi-tu-duy-post251815.html