Asset managers will have to forecast returns under distressed market conditions
TPBank’s Hung helped drive the bank’s efficiency and service quality through digitalisation
Nguyen Hung’s valuable experience and proficiency in management and banking operations helped elevate TPBank’s position as one of the leading commercial banks in Vietnam. With his heavy emphasis on digitisation, the bank has considerably enhanced its digital capabilities.
- Hung led TPBank to adopt frontier technologies to steadily elevate the bank’s position
- He steered the bank’s efficiency and service quality through digitalisation
- He instilled a professional and unique corporate culture to bring the business to greater heights
Singapore, 29 July 2021– Nguyen Hung, chief executive officer at TPBank, was recognised for Innovation Leadership in Vietnam at The Asian Banker Leadership Achievement Awards Virtual Ceremony 2021.
Hung led TPBank to adopt frontier technologies to steadily elevate the bank’s position
Hung’s wealth of experience and competence in management and banking operations enabled him to steadily elevate TPBank’s position as one of the leading commercial banks in Vietnam. It was made possible through digitisation, as the bank consistently conducts research and applies advanced technologies for optimisation of its products and services.
Hung said, “It was all about implementing a comprehensive digital transformation strategy, not just for our products and services, but for all internal operational processes as well”.
TPBank is a digital frontrunner in Vietnam’s banking industry and has deployed the automatic banking system TPBank LiveBank that successfully implements electronic know your customer on its mobile app. The bank is among the first to use blockchain technology in international money transfers and other services.
He steered the bank’s efficiency and service quality through digitalisation
Under his leadership, over 80% of the bank’s new technology applications utilise artificial intelligence and machine learning that resulted in reduced processing time and enhanced service quality. The bank also developed 70 robots for use in its operational processes in 2020, and the number is expected to double in 2021. In 2020, TPBank’s mobile banking app was one of the most popular banking and finance apps in Vietnam based on the number of downloads for consecutive weeks.
TPBank’s digitalisation effort brought several benefits, which include 30% to 50% reduction in operating or transaction costs, 40% to 60% decrease in processing time for customer service, and 100% control of electronic toll collection, thus eliminating human error. Hung’s guidance in the bank’s digitisation strategy has also improved internal processes through time savings, productivity gains, reduction in operational risks, and fraud prevention.
He instilled a professional and unique corporate culture to bring the business to greater heights
Hung is a pioneer, role model, and leader in the implementation of TPBank’s core values. He built a professional and unique corporate culture to bring the bank to greater heights.
He is a source of inspiration to the next generation of bank employees, encouraging enthusiasm, creativity and efficiency at work. He places heavy emphasis on staff development to ensure that all employees are upskilled through periodical professional training programmes.
“Our consistency in digitalisation strategy provides us a solid foundation to thrive and uphold our growth momentum over the past two years despite the global and unpredictable challenges caused by the COVID-19 crisis,” Hung said in his acceptance speech.
For video of the Leadership Dialogue and Leadership Achievement Awards Virtual Ceremony, please click here.
About Innovation Leadership Achievement Awards
The Asian Banker conducts the Innovation Leadership Achievement Awards every three years. It is one of our most important individual award programmes to underscore the importance of sound and visionary leadership in creating and fostering an environment and culture of innovation in individual institutions and how it can also play a pivotal role in shaping the industry.
We seek to recognise distinguished executives whose vision, efforts, and commitment inspire and champion the innovation that are already well regarded by peers in the industry. It also
recognises leaders from banks, non-banking institutions, as well as fintechs and other organisations that provide cutting-edge customer or end-user experience and have successfully managed to disrupt the market with unique products and services.
The programme is predicated on the following belief – “Leadership in innovation is demonstrated by the ability to execute a well communicated vision as an innovation champion, by inspiring and leading a strong team, with courage and passion in overcoming specific adversities in order to deliver a solution that has the potential to disrupt the market and achieve a strong and sustainable business performance”.
About The Asian Banker International
The Asian Banker is the region’s most authoritative provider of strategic business intelligence to the financial services community. The global research company has offices in Singapore, Malaysia, Manila, Hong Kong, Beijing, and Dubai, as well as representatives in London, New York, and San Francisco. It has a business model that revolves around three core business lines: publications, research services and forums. The company’s website is www.theasianbanker.com
For further information, you may get in touch with:
Mobasher Zein Kazmi
Head of Research
Tel: (+61) 452 514 145
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