Transformation to Digital bank of Lecturer Ngo Quy Nham PDF

The Transformation to Digital bank of QTRE304Course NgoQuyNhamLecturerNguyenMinhCong-1815280031 PhamTrungDung-1810280006 LeHuongGiang-1812280037 PhamThuHong-1810280010 TranLongVu-1814280101Groupmember

NUMBER OF PAGES SUBMITTED 31
ASSESSMENT TITLE The Transformation to Digital bank of
Techcombank
DATE ASSESSMENT BRIEF IS RECEIVED
SUBMISSION DATE 10/10/2021
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 STUDENT DATE
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TABLE OF CONTENT
TABLE OF CONTENT 2
LIST OF FIGURE 4
INTRODUCTION 5
Techcombank 5
The difference between digital banks and traditional banks 8
The difference between digital banking and internet/mobile banking 8
TASK 1: UNDERSTAND BACKGROUND TO DIGITAL TRANSFORMATION 9
1.1 Discuss models of digital transformation 9
Mckinsey 7S Model 9
The Digital Transformation Pyramid 10
1.2 Evaluate the relevance of the two models 11
1.3 Assessment of the value of using strategic intervention techniques in organizations. 12
Techno structural interventions 12
Team Development and Group Processes Interventions 12
Individual / Interpersonal Process Interventions 13
TASK 2 UNDERSTANDING THE ISSUES RELATED TO DIGITAL
TRANSFORMATION IN BANKING INDUSTRY 14
2.1 Examine the need for Digital Transformation 14
2.2 Assess the factors that are driving the need for Digital Transformation in a banking
company 14
Customer-centric Strategy 14
Modernize Operating Model and Infrastructure 16
Leverage the Power of Data 16
2.3 Access the fundamental technologies structure required in the process of becoming a
digital-transformed bank 16
Internet of Things (IoT) 16
Big Data Analytics 16
Artificial Intelligence (AI) 17
Cloud Computing 17
API Application Programming 17
Blockchain 18
Electronic Identification Method – EKYC (Electronic Know Your Customer) 18
TASK 3: BE ABLE TO LEAD STAKEHOLDERS IN DEVELOPING A STRATEGY
FOR TRANSFORMATION 19
3.1. Develop the systems to involve stakeholders in the planning of transformation. 19
3.2. Develop a Digital Transformation strategy with stakeholders 20
3.3. Evaluate the systems used to involve stakeholders in the planning of
transformation 21
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3.4. Create a strategy for managing resistance 22
TASK 4: BE ABLE TO PLANT TO IMPLEMENT MODULES FOR ENSURING
DIGITAL TRANSFORMATION 23
4.1 Develop appropriate models 23
4.2 Plan to implement the model 25
4.3 Develоp appropriate measures to monitor progress 26
CONCLUSION 27
REFERENCES 28
4

LIST OF FIGURE
Figure 1: Top 10 largest banks by market capitalization 2021 6
Figure 2: Top 20 banks have strongest brand awareness in Northern Religion 7
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 Religion 8
Figure 5: McKinsey 7S 10
Figure 6: The Digital Transformation pyramid 11
Figure 7: Change In Customers Behaviour and Reasons (Banking Industry) 16
Figure 8: Gen Y’s Banking Behaviour 16
Figure 9: Stage of Innovation Adoption 22
Figure 10: 3 levels of Digital Transformation in the banking sector 24
Figure 11: The Digital Transformation pyramid 25
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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
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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
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VISION:
● Change banking, change lives.
● Uplifting everyone to reach their full potential.
MISSION:
● Lead the digital transformation of the financial industry, enabling individuals,
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 banks Digital banks
Internal
organization
Rigid organizational structure 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, fully automated products and
services
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