The adopt-and-build approach on the Backbase Engagement Banking Platform elevated TPBank into the Top 10 banks in Vietnam within 5 years

SINGAPORE - Media OutReach Newswire - 26 April 2024 - Backbase, the global leader in Engagement Banking, in partnership with Vietnam’s Tien Phong Commercial Joint Stock Bank (TPBank), has won the 'Best Omni-Channel Digital CX Solution' award at The Digital CX Awards 2024. This accolade highlights TPBank's significant strides in transforming banking experiences through omni-channel touchpoints, enabled by Backbase Engagement Banking Platform. The awards ceremony took place on 25 April 2024 in Marina Bay Sands.

Since its inception in 2012, TPBank has grown from modest beginnings to become one of Vietnam’s Top 10 banks, with a customer base of over 12 million. Driven by a unique bank development philosophy of "State of the Art - Trendy – From the Heart", TPBank is dedicated to winning the hearts of millions through innovative banking solutions that are creative and insightful.

The Digital Banker’s panel of judges noted, "TPBank’s implementation of the Backbase Engagement Banking Platform has categorically augmented its omni-channel capabilities. Commendably, the strategic adopt and build approach enabled the Bank to completely revamp its internet and mobile banking system, migrating almost three million customers to the new platform driving growth in digitally active customers and contributing to retail business growth.”

Leveraging Backbase as their anchor platform for digital customer engagement, TPBank has strategically embraced an 'adopt and build' approach to develop a comprehensive end-to-end omnichannel digital platform. By building on the platform, TPBank has achieved a digital-first and customer-first omnichannel banking experience that not only accelerated their acquisition of new customers via multiple touchpoints but also reduced their cost to serve. To achieve accelerated build, TPBank trained and expanded its in-house development teams to lead ongoing customized features and UI/UX development.

The implementation of the Backbase platform at TPBank has enabled essential scalability: