Vietnam Technological and Commercial Joint Stock Bank (Techcombank) has partnered with Personetics, which provides financial data-driven personalization and customer engagement for financial services, to present AI-powered money management capabilities in Vietnam.
The two companies aim to provide a hyper-personalized banking experience to around 11 million clients, supporting them in tackling the recent increase in the cost of living and achieving financial well-being. The agreement will provide additional advanced money management features to the existing Techcombank mobile app, enabling users to experience an autonomous, customized, and independent financial journey.
The deal will supply tools meant to evaluate client financial activity, gather bank accounts, and deliver insightful information regarding unforeseen payments, excessive spending, and low account balances. In order to assist users to improve their financial resilience and independently accomplish their goals, the system also offers personalized recommendations on saving, asset growth, and card usage.
After the three-week pilot program with 10,000 participants, it is reported that Techcombank witnessed several positive outcomes, including an increase of 9% in savings balances and a rise of 43.7% in installment volume. The pilot phase results were promising and surpassed expectations, indicating that Techcombank’s customers are eager for the personalized insights and advice offered by the Personetics platform.
Techcombank is one of the largest joint stock banks in Vietnam, serving over 10.8 million retail and corporate customers. It is also the only bank in Vietnam rated with Ba2 (“Stable” Outlook) for Baseline Credit Assessment (BCA) by Moody’s.