Techcombank - A Leading Bank in Technology

3:26:23 PM | 7/8/2005

After 11 years' operation, the Technological and Commercial Joint stock Bank (Techcombank) has built a network of 27 branches and transaction offices. Its charter capital has reached VND 260 billion (about US$16.476 million) and is expected to reach VND 400 billion (about US$25.348 million) late this year. The bank’s growth rate is put at 30 per cent per year.

Pham Quang Thang, deputy general director of Techcombank, said it was not accidental that the bank was called the Technological and Commercial Joint stock Bank . With its great advantage in technology, all products and services of the bank have been developed in a modern manner. Three years ago, Techcombank replaced its old software with a modern one developed by Temenos Corporation of Switzerland. This was praised by Governor of the State Bank of Vietnam Le Duc Thuy as a bold decision in a context that the bank’s scale remained small. So far, Techcombank has developed many new modern products and services, specialised for each group of customers, including saving products, electronic saving products and the F@st Access-Connect 24 payment.

The application for modern technology has helped Techcombank renew and optimise its activities, increasing management capacity and the quality of services. In two consecutive years, 2003 and 2004, the bank won high praise from international banks, namely the Bank of New York, Citigroup, the Standard Chartered Bank, for its good international payment services with 99 per cent of telegraphs processed by computers.

Over the past years, Techcombank has standardised its activities under a quality management system with all documents managed in a consistent manner and all issued documents closely examined in terms of content and validity. The concretisation of its activities under the quality management system has helped simplify procedures, increase productivity, and more importantly, improve the quality of services.

At the ninth forum on productivity and quality held recently in Hanoi, Techcombank was presented with a 9000:2000 quality management certificate in credit and payment. This has shown the bank's great efforts to renew its management system to become a prestigious financial and banking service supplier in Vietnam.

Thang stressed that Techcombank did not consider customers 'Gods' but partners, so that the bank could share all favourable conditions and difficulties to create solid partnership. In its quality policies, Techcombank has committed that all of its activities were for customers and it has always renewed products and services to meet its customers’ demand best.

The shift from State-owned enterprises to small and medium-sized enterprises in the private and foreign-invested sectors and people in urban areas as its main customers is an important turning point for the bank. This has helped the bank develop package services for small and medium-sized enterprises, such as consultancy, lending, foreign exchange trading, money transfer and payment in a close circle model. Also, the bank has developed retail products for enterprises in individual projects.

With a target of becoming a leader among joint stock commercial bank, Techcombank will continue to develop its technology in management and operation. Especially, it will continue to perfect its Enterprise Symbol programme.