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Transformation to Digital bank of Lecturer Ngo Quy Nham PDF

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The Transformation
to Digital bank of

QTRE304

Course

NgoQuyNham

Lecturer

NguyenMinhCong-1815280031

PhamTrungDung-1810280006

LeHuongGiang-1812280037

PhamThuHong-1810280010

TranLongVu-1814280101

Groupmember
NUMBER OF PAGES SUBMITTED31
ASSESSMENT TITLETheTransformationtoDigitalbankof
Techcombank
DATE ASSESSMENT BRIEF IS RECEIVED
SUBMISSION DATE10/10/2021
I, _Phạm Trung Dũng_ hereby confirm that this assignment is my own work and not the product of plagiarism,
collusion or other academic irregularity. I have referenced the sources from which information is obtained by me
for this assignment.
.........Dũng.............................10/10/2021...................
SIGNATURE OF STUDENTDATE
2
TABLE OF CONTENT
TABLE OF CONTENT2
LIST OF FIGURE4
INTRODUCTION5
Techcombank5
The difference between digital banks and traditional banks8
The difference between digital banking and internet/mobile banking8
TASK 1: UNDERSTAND BACKGROUND TO DIGITAL TRANSFORMATION9
1.1 Discuss models of digital transformation9
Mckinsey 7S Model9
The Digital Transformation Pyramid10
1.2 Evaluate the relevance of the two models11
1.3 Assessment of the value of using strategic intervention techniques in organizations. 12
Techno structural interventions12
Team Development and Group Processes Interventions12
Individual / Interpersonal Process Interventions13
TASK 2 UNDERSTANDING THE ISSUES RELATED TO DIGITAL
TRANSFORMATION IN BANKING INDUSTRY14
2.1 Examine the need for Digital Transformation14
2.2 Assess the factors that are driving the need for Digital Transformation in a banking
company14
Customer-centric Strategy14
Modernize Operating Model and Infrastructure16
Leverage the Power of Data16
2.3 Access the fundamental technologies structure required in the process of becoming a
digital-transformed bank16
Internet of Things (IoT)16
Big Data Analytics16
Artificial Intelligence (AI)17
Cloud Computing17
API Application Programming17
Blockchain18
Electronic Identification Method – EKYC (Electronic Know Your Customer)18
TASK 3: BE ABLE TO LEAD STAKEHOLDERS IN DEVELOPING A STRATEGY
FOR TRANSFORMATION19
3.1. Develop the systems to involve stakeholders in the planning of transformation.19
3.2. Develop a Digital Transformation strategy with stakeholders20
3.3. Evaluate the systems used to involve stakeholders in the planning of
transformation21
3
3.4. Create a strategy for managing resistance22
TASK 4: BE ABLE TO PLANT TO IMPLEMENT MODULES FOR ENSURING
DIGITAL TRANSFORMATION23
4.1 Develop appropriate models23
4.2 Plan to implement the model25
4.3 Develоp appropriate measures to monitor progress26
CONCLUSION27
REFERENCES28
4
LIST OF FIGURE
Figure 1: Top 10 largest banks by market capitalization 20216
Figure 2: Top 20 banks have strongest brand awareness in Northern Religion7
Figure 3: Top 20 strongest banks with advertisement recognition in Northern Religion 7
Figure 4: Top 20 banks with most positive customer experience in Northern Religion8
Figure 5: McKinsey 7S10
Figure 6: The Digital Transformation pyramid11
Figure 7: Change In Customers Behaviour and Reasons (Banking Industry)16
Figure 8: Gen Y’s Banking Behaviour16
Figure 9: Stage of Innovation Adoption22
Figure 10: 3 levels of Digital Transformation in the banking sector24
Figure 11: The Digital Transformation pyramid25
5
INTRODUCTION
Techcombank
Techcombank, also known as Vietnam Technological and Commercial Joint Stock Bank, is
a publicly listed Vietnamese bank. Techcombank was founded in 1993 by Ho Hung Anh, a
Vietnamese businessman who returned from Russia. Its domestic investors include Masan
Group and ETF Ssiam Vnfin Lead. Nowadays, Techcombank is one of the largest joint-stock
banks in Vietnam as it has more than 300 branches and serves more than 5 million customers.
Top 4 in the largest bank by market capitalization.
Figure 1: Top 10 largest banks by market capitalization (26/3/2021; unit: billion
dongsbanks)
Top 5 in brand awareness in Northern Religion (Vietnam bank report, 2017):
Figure 2: Top 20 banks have strongest brand awareness in Northern Religion
6
Techcombank’s frequency of advertisement is recognized as Top 9 by customers in
Northern Religion (Vietnam bank report, 2017):
Figure 3: Top 20 strongest bank with advertisement recognition in Northern Religion
The buying experience in Techcombank is rated as Top 7 in Northern Religion:
Figure 4: Top 20 banks with most positive customer experience in Northern Religion
7
VISION:
Change banking, change lives.
Uplifting everyone to reach their full potential.
MISSION:
Leadthedigitaltransformationofthefinancialindustry,enablingindividuals,
businesses, and corporations to progress and thrive sustainably.
CORE VALUES:
Techcombank’s core values are the foundation for the organization’s sustainable
development while bringing tremendous success for our customers, employees, and
stakeholders:
Customer centricity
Innovation and creativeness
Collaboration for common objectives.
Self-development
Work efficiently
The difference between digital banks and traditional banks
Traditional banksDigital banks
Internal
organization
Rigidorganizationalstructure with a
complex chain of command
Informed by a digital core with no front,
back, or middle office.
Services
offered
Legacy, paper-based products, services,
and processing
Instant,fullyautomatedproductsand
services
8
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