Pitch Engine
The Times Real Estate

.

  • Written by Reporters

Premier banking forum unites 150+ banking leaders, regulators, advisory partners, and tech visionaries from across Asia.

HO CHI MINH CITY, VIETNAM - Media OutReach Newswire - 26 September 2024 - Backbase, the global leader in engagement banking successfully concluded its flagship event, ENGAGE Asia 2024, in Ho Chi Minh City on September 11-12, 2024. The event, held at Le Méridien Saigon, was attended by over 150 banking CXOs and industry leaders to discuss "Banking Reinvented," focusing on AI-driven strategies and customer-centric innovations. The event opened with Jouk Pleiter, CEO and Founder of Backbase, who expressed heartfelt thanks to the Vietnam Banks Association (VNBA) for their invaluable support. Both Dr. Nguyen Quoc Hung, Vice Chairman & General Secretary of the Vietnam Banks Association and Mr Pham Anh Tuan, Director General of Payment Department of The State Bank of Vietnam, delivered welcome keynotes to address the banking leaders in the audience, setting a prestigious tone for the event. Highlighting Backbase's commitment to the region, Pleiter announced the launch of Backbase’s global AI Centre of Excellence in Ho Chi Minh City. This strategic move underscores Backbase's dedication to fueling innovation in Asian banking. Customer success stories: Engagement banking at its best ENGAGE Asia 2024 showcased the region's advancement toward Banking 4.0, highlighting the success of five banks using the Engagement Banking Platform. These banks have designed digital banking solutions, omnichannel experiences, personalized and humanized banking, as well as beyond-banking initiatives to achieve steady growth in customer acquisition and satisfaction, along with differentiated digital journeys that enhance brand preference and drive business benefits.
  • Techcombank's new-to-bank acquisition has grown 20x in two years and has become a pure digital play. Digital now accounts for over 94% of transactions, driving not only better customer engagement but also stellar financial performance and substantial financial gains, accelerating the bank's achievements.
  • EastWest Bank, the 9th largest bank in the Philippines has honed its ability to provide banking services tailored to different life stages. Within just one month of its launch,, their EasyWay app tracks over 619,000 installs and has maintained a rating between 4.6 and 4.8 on both the Apple App Store and Google Play, along with strong return rates.
  • ABBANK launched its ABBANK Business app three months ago and has successfully migrated 100% of its business customers onto the new platform very quickly. The app is now the preferred choice for active users, making up the majority of total transactions.
  • OCB launched its OMNI 4.0 app in just six months—three times faster than the industry norm for omnichannel banking platforms. This accelerated implementation delivered an estimated 40% in time savings. The app achieved a 61% year-on-year increase in transactions and a 25-fold increase since 2018, setting a new benchmark in Vietnam's banking sector.
  • HDFC Bank, India’s largest private sector bank, has reinvented its NetBanking platform to deliver a futuristic, multi-dimensional banking experience. With hundreds of native features and integration with key Indian payment systems like RTGS, IMPS, and UPI, the platform is designed to support hundreds of millions of localized transactions per month.
AI and customer-centricity: driving Banking 4.0 objectives Intelligence Fabric is an expansion of the Engagement Banking Platform incorporating a powerful set of natively embedded data and AI capabilities to empower banks to foster stronger relationships with customers throughout key stages: acquisition, activation, expansion, and retention. As digital banking platforms evolve into growth engines, they are increasingly designed to maximize customer lifetime value. In acquisition, AI-based recommendations leverage open banking data to deliver personalized product suggestions, treating each customer as a unique individual and segment of one at scale. In activation, the platform uses scheduled triggers and smart nudges to encourage product usage, replacing traditional push marketing methods. For banking employees, AI-driven insights streamline new audience identification and enable fast, efficient segmentation opportunities. In expansion, AI analyzes spending patterns to match consumers with the most suitable credit products. For retention, predictive analytics encourage repeat usage by anticipating customer needs. Backbase's platform, with its move towards enhanced UI/UX for conversational banking and AI-driven dialogue, will drive advancements in the banking community. Banking 4.0 focuses on creating seamless, customer-centric experiences by leveraging technology to tailor services to individual needs. AI is crucial in this evolution, enhancing customer interactions and streamlining operations to drive efficiency and engagement. At ENGAGE Asia 2024, Chris Shayan, Backbase’s Head of AI, led a CXO panel with PT Bank Sinarmas Tbk, VietinBank, and Chinabank to discuss AI’s transformative role in banking. Additionally, Greg Fahy, SVP of Technology, presented a session titled “Enhance Customer Value Through AI and Automation,” which highlighted how AI fosters personalized experiences and efficient operations. Journeying together and celebrating milestones in banking excellence The Excellence in Customer Engagement Awards 2024 took place during the grand opening of the event. The annual awards ceremony exemplifies banks who have demonstrated the commitment to achieving digital excellence in engaging consumers, enabling business owners, and empowering employees. The 2024 award winners:
  • Fastest Platform and App Go-Live Excellence Award: OCB
  • Best Intuitive UI/UX Experience at Scale Award: HDFC Bank
  • Best of Enterprise Suite Excellence Award: Eastwest Bank
  • Enterprise Planning and Execution Excellence of the Year Award: Chinabank
  • Excellence in Customer Experience Optimization Award: ABBANK
  • Best Anchor Platform Innovation of the Year Award: BDO Unibank
  • Progressive Modernization at Scale Award of the Year: BPI
  • Excellence in Humanized Banking Innovation Award: Techcombank
  • Outstanding Execution Partner of the Year Award: SmartOSC
  • Visionary Leader and Changemaker Award of the Year: Pranav Seth, Chief Digital Officer of Techcombank
An immersive conclusion with asian hospitality The event concluded with an immersive experience along the Saigon River, offering attendees a luxury dinner cruise with panoramic views and a taste of Asian hospitality. Jouk Pleiter, CEO and Founder of Backbase states, “ ENGAGE Asia 2024 in Vietnam was an incredible experience. The warmth of the Vietnamese people and the dynamism of the business community truly impressed me. Meeting so many forward-thinking executives from across Asia reinforced my belief in the region's pivotal role in shaping the future of global finance. This event wasn't just about business—it was a meaningful cultural exchange that I'll cherish for years to come. Asia, and Vietnam in particular, is well-positioned to lead the charge towards a customer-centric digital banking economy, aligning perfectly with our focus on the next wave of innovation in engagement orchestration, superapps, AI, and enhancing customer lifetime value. We are confident in our ability to contribute to the pace of the region's digital economy and meet its evolving needs." Hashtag: #Backbase #digitalbanking #engagementbanking #retailbanking #omnichannelbanking #engageasia #AI #intelligencefabric #awards

The issuer is solely responsible for the content of this announcement.

Backbase

Backbase is the creator of the Engagement Banking Platform — a unified platform with the customer at the center, empowering banks to accelerate their digital transformation. From customer onboarding to servicing, loyalty, and loan origination, our single platform — open and frictionless, with ready-to-go apps — improves every aspect of the customer experience. Built from the ground up with the customer at the heart, our Engagement Banking Platform easily plugs into existing core banking systems and comes pre-integrated with the latest fintechs so financial institutions can innovate at scale. Industry analysts Gartner, Omdia, and IDC continuously recognize Backbase’s category leadership position. Over 120 financial institutions around the world have embraced the Backbase Engagement Banking Platform. In APAC, the customers we serve include ABBANK, BDO Unibank, Chinabank, Bank of the Philippine Islands, EastWest Bank, HDFC Bank, JudoBank, MyState, OCB, Techcombank, Bank Muamalat, and TPBank. Backbase is a privately funded fintech company, founded in 2003 in Amsterdam (Global HQ), with regional offices in Singapore (APAC HQ), Atlanta (Americas HQ), and operations in Australia, India, Indonesia, Malaysia, Philippines, Thailand, Vietnam, Latin America, and the UK.

Source https://www.media-outreach.com/news/vietnam/2024/09/26/329387/