Dragon Capital, E-Wallet App SmartPay Partner with MoEngage to Drive Insights-led Customer Engagement

MoEngage, the leading insights-led customer engagement platform for consumer brands, today announced major customer partnerships with Vietnam’s oldest independent asset manager, Dragon Capital and State Bank of Vietnam’s licensed e-wallet, SmartPay, to bring a highly personalized, contextualized, and engaging customer experience to the country's 98 million population.

With an easily trainable workforce, an entrepreneurial culture, favorable government policies, and an abundance of resources, Vietnam is a hotspot for investment opportunities. But on the other hand, historically, the country has had one of the highest percentages of unbanked populations in Asia; as of 2022, only 66% of Vietnamese adults have a bank account.

Founded in 1994, Dragon Capital is Vietnam’s oldest independent asset manager in listed equity, fixed income, clean technology, and real estate for professional and institutional investors, including endowments, pension funds, and sovereign wealth funds. A challenge investors commonly face is the lack of knowledge about market conditions and the right investment avenues that cater to individual investor needs. To alleviate these challenges, Dragon Capital officially launched DragonX on July 26, 2021. DragonX is a fund investment app that offers investors an excellent and personalized customer experience. By setting a lower minimum entry value and waiving subscription fees, DragonX aims to improve accessibility. In their pursuit of continuously improving their customer experience and strengthening their customer engagement strategy, Dragon Capital has partnered with MoEngage to have a unified, 360-degree view of their customers, which would help them respond better to individual investor needs.

Will Ross, Chief Marketing and Distribution Officer at Dragon Capital commented, “At DragonX, customer-centricity is crucial for our day-to-day operations. With AI-driven insights, MoEngage helps us optimize how we communicate and connect with our customers. MoEngage helps us create the perfect onboarding journey for our customers, reducing any friction to drive app adoption. Insights into how app users behave help us proactively identify and remove bottlenecks, thereby helping Dragon Capital become more investor and customer-centric.”

Licensed by the State Bank of Vietnam to deploy payment intermediary services in 2019, SmartPay is an electronic wallet application that provides complete cashless payment and banking solutions for individuals and merchants. Their mission is to empower and enrich the lives of micro, small, and medium enterprises. SmartPay furthers this mission of financial inclusivity for over 4 million micro and SME retailers in Vietnam through offerings like consumer durable loans, business loans, its buy-now-pay-later (BNPL) services in partnership with CIMB Vietnam, and SmartPOS for easier payments.

 As a financial ecosystem that aims to make payments easier for consumers and merchants alike, SmartPay needed to understand the user paths across different segments of users. They needed access to advanced analytics to identify friction points in their app that could potentially lead to user drop-offs. SmartPay chose to partner with MoEngage as they wanted to improve customer engagement and app stickiness. SmartPay will be leveraging MoEngage’s best-in-class push notification capabilities. Flows will help them build integrated customer journeys across channels, helping merchants and consumers seamlessly navigate through the app.

“Understanding customer behavior and acting upon them in real-time was critical to our business. MoEngage’s insights-led approach to engagement helps us understand our customers at a granular level. These insights help us provide them with the right product and service at the right time. Our integration process with MoEngage has been seamless and friction-free. We are delighted by the ongoing support we’ve been receiving from the local team” said Marek Forysiak, Founder & Chairman Of The Board, SmartPay.

“We are dedicated to helping these pivotal ecosystem builders, SmartPay and Dragon Capital, enrich the lives of customers in Vietnam. MoEngage’s best-in-class integrated customer engagement platform will not only help them enhance their customer engagement strategies, but also create omnichannel experiences that reduce friction at every touchpoint", said Saurabh Madan, Vice President and General Manager SEA, and ANZ.

T.H (Vietnam Business Forum)