PYMNTS-MonitorEdge-May-2024

Temenos Helps Vietnam’s Sacombank Go Cashless

Digital banking platform Temenos says it is working with Vietnam’s Sacombank to offer the bank’s 15 million customers “a seamless omnichannel experience.”

Sacombank will use Temenos’s Infinity product to capture a “comprehensive 360-degree customer view, helping Sacombank to acquire, service, retain and cross-sell to customers, on multiple channels and devices using native features,” Geneva-based Tenemos said in a news release Thursday (Nov. 10).

In addition, the Temenos platform will let Sacombank connect with eCommerce providers, social networks, and other online services to help foster a cashless ecosystem, something the Vietnamese government has made a priority, the release said.

“The omnichannel platform project is an unavoidable step to make a breakthrough in the digital business of Sacombank,” said Bui Van Dung, the bank’s deputy CEO.

The collaboration comes at a time when banking customers are increasingly seeing digital banking as part of their everyday lives.

Research by PYMNTS has found that 70% of consumers see their increased use of digital banking as permanent, and no longer connected to pandemic use cases.

To keep those customers interested, banks are launching personalized insights and customized app dashboards for online and mobile banking users, PYMNTS wrote recently.

These new dashboards display up-to-date account information and allow for fast navigation to frequently used features, offering an easier, more useful mobile customer experience.

In addition, banks are using notifications to help keep their customers updated, with 29% of banks already sending proactive notifications to let customers know if they have low cash balances or are risking being overdrawn. For consumers looking to track their spending habits or income sources, almost 50% of mobile apps allow consumers to break down their cash flow.