To introduce digital banking platform, Vietnam-based ABBANK invests in Backbase
In order to introduce a digital banking platform, An Binh Commercial Joint Stock Bank (ABBANK), a bank based in Vietnam, has invested in engagement banking company Backbase.
In a statement released on Wednesday, the two said that ABBANK had successfully launched ABBANK Business, a new business digital banking platform. This was a significant step in ABBANK’s journey to support all enterprise segments and improve customer-centric digital experiences throughout Vietnam.
With this launch, ABBANK levels the playing field and offers a smooth, safe platform for business expansion and financial management by giving business owners access to enterprise-grade technology and digital banking capabilities through the Backbase engagement banking platform.
One of ABBANK’s daring digital initiatives is the platform adoption, which offers a quick, safe, app-based banking solution to entrepreneurs and small and medium-sized businesses (SMEs).
It should be mentioned that ABBANK’s goal is to support Vietnam’s economic development by providing SMEs with the necessary resources for success.
By introducing ABBANK Business on Backbase’s platform, ABBANK hopes to increase its influence among entrepreneurs and SMEs who value strong financial backing and digital convenience.
By reaching this milestone, ABBANK reaffirms its position as a reliable financial partner for Vietnamese companies and entrepreneurs, offering them the innovation, security, and service quality necessary for success in a world that is increasingly reliant on technology.
Three fundamental business values are provided by ABBANK Business: excellent management, quick and safe operation, and a flawless user experience.
Customizable account numbers, fast utility bill payments, international money transfers, and a dashboard that offers a simple overview of assets, interest rate updates, and recent transaction data are some of the main features for the launch phase.
For the best customer experience, the advanced features are underdeveloped concurrently with the agile working model.
The launch of the new platform comes after a smooth three-month migration in which ABBANK seamlessly moved all of its current business banking customers to the new platform.
Currently, the app is the main banking channel for 88% of these most active users.
The app provides SMEs with a simplified, user-friendly experience catered to the particular requirements of business banking, building upon Backbase’s engagement banking platform.
It should be mentioned that in the past year, ABBANK has drawn hundreds of data and technology talent for its drive toward digital transformation.
“ABBANK Business is a strong testament to our customer-centricity strategy, building solutions from insights to meet corporate clients’ needs,” said Pham Duy Hieu, Chief Executive Officer, ABBANK.
“The new application makes banking easy, safe, and convenient for our clients while enhancing ABBANK’s efficiency and enabling us to achieve transformative SME digital banking goals,
“Backbase platform, on which ABBANK Business is built, provides such robust architecture we need to deliver for our clients,” he added.
