HANOI, VIETNAM – As one of the pioneering banks implementing digital transformation in the market, MSB aims to become a bank with a leading digital platform with the best customer service experience. Building on a robust digitalization strategy, MSB has transformed its offerings to bring streamlined, accessible financial solutions to both individual and corporate customers. MSB is currently serving 5.5 million customers.\n<\/p>\n By adopting the Backbase Engagement Banking Platform, MSB is unifying its in-house applications onto a best-of-suite anchor platform. This strategic shift enables MSB\u2019s digital factory to deliver a seamless, end-to-end digital banking experience by building on the platform\u2014from onboarding and daily transactions to product holding\u2014enhancing customer engagement, simplifying product bundling, accelerating unique feature development, and reducing cost-to-serve for MSB\u2019s 5.4 million retail and 100,000 enterprise customers. MSB\u2019s goal is for the platform to enable an omnichannel, frictionless banking journey that elevates the modern customer experience.\n<\/p>\n \u201cAt MSB, we are advancing our digital factory by combining the strengths of Backbase’s Engagement Banking Platform with our in-house developments, gaining refreshing flexibility to seamlessly integrate and elevate our existing capabilities,\u201d said With the platform as its foundation, MSB can unify and streamline customer journeys, significantly reducing time-to-market and delivering seamless, high-impact banking experiences that set new benchmarks in Vietnam\u2019s financial landscape. Its flexible architecture empowers MSB to develop a unique technology ecosystem, integrating seamlessly with other platforms to drive even greater synergy and innovation. MSB estimates a 30% increase in active digital customers and a 20% – 40% increase per year in digital acquisition by delivering end-to-end digitalized experiences after launching the platform.\n<\/p>\n \u201cRather than uproot and restart, the \u2018adopt and build\u2019 approach enables MSB to reinvent their existing channels and apps, upskill their digital factory, and empower in-house talent to unlock new efficiencies and innovation,\u201d said SmartOSC will play a key role in localizing the Backbase platform to meet MSB\u2019s specific needs, ensuring seamless alignment with local expectations and regulatory requirements. With their experienced resource and deep knowledge of Vietnam\u2019s financial sector, SmartOSC is well-positioned to help MSB achieve its goal of launching both retail and business banking channels within a year. This partnership highlights the importance of local expertise in the digital transformation process, ensuring a smooth and timely deployment that maximizes the benefits of the platform.\n<\/p>\n \u201cWe\u2019re thrilled to be the implementation partner for this project. Our goal is to make this collaboration between MSB, Backbase, and SmartOSC a leading example of technology that empowers human ingenuity,\u201d said With this investment, MSB aims to enhance key performance indicators aligned with its five-year strategic plan including increasing omnichannel acquisition by 10-20% through end-to-end digital journeys, growing digitally active customers to 20% for retail and 23% for enterprise banking, and ensuring 60% of retail and 40% of enterprise banking customers are acquired digitally. The adoption of the Engagement Banking Platform is designed to help MSB reach these milestones and solidify its goal of becoming the most customer-connected and profitable bank in Vietnam.\n<\/p>\n Hashtag: <\/b>#Backbase #digitalbanking #engagementbanking #retailbanking #businessbanking #enterprisebanking #omnichannelbanking #smebanking<\/p>\n
\nMedia OutReach Newswire<\/a> – 15 November 2024 –
\nBackbase<\/a>, creator of the Engagement Banking Platform, today announces that
\nMaritime Commercial Joint Stock Bank (MSB)<\/a>, has made a strategic investment in the Backbase Engagement Banking Platform, with local implementation support from Backbase\u2019s partner,
\nSmartOSC<\/a>, a premium digital enabler. This milestone marks a pivotal step in MSB\u2019s journey toward customer-centric modernization, advancing its digital factory, and delivering seamless experiences that drive financial innovation in Vietnam.<\/p>\n
\nMr Nguyen Hoang Linh, CEO of MSB<\/b>. \u201cThrough this platform, we will unify, modernize, and launch our retail and business banking channels on a single platform within the next 12 months, achieving the speed, agility, and control needed to scale differentiated customer experiences. This investment aims to lower our cost-income ratio by 8%, reduce cost-to-serve by 30% through frictionless onboarding-to-usage journeys, and increase our CSAT scores to 93 for retail and 85 for enterprise banking.”\n<\/p>\n
\nMr Riddhi Dutta, Regional Vice President, Asia of Backbase<\/b>. \u201cBackbase provides a strategic architecture that complements and amplifies MSB\u2019s current efforts, fostering growth without disrupting the valuable work already in place. This approach ensures business continuity while advancing their digital transformation on their own terms, driving progress in a way that aligns with their established processes.\u201d\n<\/p>\n
\nMr. Chi Hieu Nguyen, Co-Founder & Chairman of SmartOSC.<\/b> \u201cToday\u2019s customers expect seamless, omnichannel experiences, not just multichannel interactions. Banks must bridge this gap and constantly innovate in the digital realm to drive growth and engagement. Using Backbase\u2019s Engagement Banking Platform, we\u2019re confident in delivering this project on time and supporting MSB\u2019s mission to become \u2018a bank everyone wants to join and no one wants to leave\u2019 by leveraging technology to meet clients wherever they are and serve them precisely how they prefer.\u201d\n<\/p>\n![](\"https:\/\/release.media-outreach.com\/Release\/templates\/images\/socialMedia\/generic_link.png\")
https:\/\/www.backbase.com<\/a>![](\"https:\/\/release.media-outreach.com\/Release\/templates\/images\/socialMedia\/iconmonstr-linkedin-1-24.png\")
https:\/\/www.linkedin.com\/company\/backbase\/<\/a> <\/p>\n