An Binh Commercial Joint Stock Bank (ABBANK), which was established in 1993 and has been in business for 25 years, is regarded as one of the banks that has experienced steady growth. ABBank wants to stand out in the financial market as a community-friendly bank by expanding with a focus on retail banking.
In addition to the professional and dedicated service attitude of the staff – the criteria and guidelines for ABBANK’s operations, applying new technology solutions for digital banks will promote ABBANK to be the trusted bank, bring effective financial solutions, and receive customers’ smiles and satisfaction after each transaction, like the business motto set by the Board of Directors and all ABBANK’s employees: “Give solution – Get a smile”.
Accordingly, ABBANK has been promoting investment in developing an extensive network system and upgrading the operating model as well as the facilities of the existing transaction points. Applying SMART FORM of Hyperlogy – a multi-channel system for retail banking (a Digital Banking product) into ABBANK to help open payment accounts, cards, SMS Banking, and Internet Banking… faster than ever.
It only takes 3-5 minutes (excluding waiting times, scanning & approving applications) to make a transaction for a typical new customer, including opening accounts, cards, and signing up for SMS / Internet / Mobile banking. In the past, it took 20-40 minutes to perform this transaction, which meant saving more than 80% of the time, equivalent to increasing labor productivity by 5 times. Thanks to that, the transaction time at the counter has just been shortened, increasing the experience as well as increasing the level of customer satisfaction for ABBANK.
The SMART FORM system implementation project is divided into 2 phases, starting from September 2018.
Phase 1 is deployed by Hyperlogy and applies to transactions at the counter:
– On the customer side, NO NEED TO FILL IN THE REGISTRATION FORM, all information will be filled in directly by the teller into the SMART FORM system, and the registration form is printed out by the system for the customer to sign.
– For banks, tellers do not have to fill in many forms on many applications, but only ENTRY DATA ONLY ONCE ON SMART FORM. The system will automatically push information to related units such as the core system, card system, Internet Banking, and SMS Banking… through ESB, which helps to save time.
Components of the parties involved in the implementation of SMART FORM at ABBANK:
– IT Division
– Retail customer service division
– Operation Division
In this project, the close coordination between the two units is the key to Hyperlogy’s successful implementation of SMART FORM. The offices of ABBANK are located in two cities: Hanoi and Ho Chi Minh City, therefore, exchanging information is a bit difficult. However, with experience in implementing many large projects, in many provinces/cities nationwide, Hyperlogy has implemented on schedule with the best quality.
Not stopping there, Hyperlogy will continue to accompany ABBANK to build company customer functions and advanced utilities.
It can be said that digitization in the banking industry is an indispensable trend for banks to develop in a new era in the face of the impact of the industrial revolution 4.0. According to the Forrester report, more than 80% of banks realize that “Digital banking transformation” is the key to their future success, and that transformation needs to happen soon.
The implementation of the SMART FORM system is not only a stepping stone to help banks catch up with this trend, but also opens up a series of technology service solutions and advanced utilities of the overall digital banking ecosystem, such as:
- SMART eKYC: A solution to help the bank know your customer; 15 times increase in labor productivity; Only 1 minute of trading;
- SMART Booking: Providing Online Banking service to customers.
- Mobile eKYC: Applying Biometrics Authentication on mobile – Helping banks improve customer experience.
In general, with these solutions, banks can improve customer experience, increase revenue (Understanding customers helps increase Cross-sell and Upsell opportunities), cut costs, and respond to demand from customers who are increasingly knowledgeable about digitization and technology, requiring financial products to be more personalized and easier to use.
Once again, Hyperlogy is honored to accompany ABBANK in creating a breakthrough in the field of digital banking!
Before that, SMART FORM was also deployed by Hyperlogy for all branches of Military Commercial Joint Stock Bank (MB) in May 2017.