Banks set to develop e-banking services

Aware of the growing demand for e-banking services, many banks have spared no efforts to develop their own systems in an attempt to attract more customers.

Customers currently use e-banking services to check the status of their accounts, including outstanding balances, payments, and credit card account statements.

Customers find e-banking one of the most convenient services banks offer because of the ability to conduct transactions at any time and anywhere with an internet connection, as well as its time-saving and streamlining of transaction procedures.

According to a recent survey conducted by the International Data Group (IDG), around 32 percent of customers will use Internet banking and mobile banking services in the next two years, corresponding with the continuing boom in internet-based mobile devices like smart phones, laptops, and iPads. The e-banking user base is certain to increase.

The number of younger customers who prefer to use the Internet when dealing with banks is very high, accounting for more than 50 percent of the national population.

E-banking’s popularity among such an important market is encouraging domestic banks to exploit the service’s potential and offer a variety of convenient alternatives, improving general customer service quality. Established foreign banks like HSBC, Standard Chartered, and ANZ are no longer the only institutions to embrace e-banking.

Recently, Sacombank has launched the programme “Surfing Internet Banking, Getting Gifts”, designed to reward Vietnamese customers using Internet banking with gifts.

LienVietPost Bank has also encouraged customers to use e-banking through the product package “Green Banking” while the Bank for Investment and Development of Vietnam (BIDV) has debuted its e-banking service for both individuals and businesses.

These banks are promoting value added services to create closer links between themselves and their customers.

An expert from Vietinbank’s School for Human Resource Development says domestic joint stock commercial banks are increasingly paying greater attention to developing and diversifying their e-banking services.

Simplified account opening procedures are one example of the new focus on ease of use. Customers can now open a new account by typing a short guided message on a mobile phone and sending it to a switchboard.

Banks regard making online banking services more convenient for customers as a current priority development target, believing it could give them an edge over their competition.

However, most customers still feel that e-banking services are rather complicated to use. Many are not familiar with the advanced technology it requires, creating a barrier between commercial banks and potential customers.

Experts stress simplifying banking services while ensuring the security and safety of transactions represents the best way for banks to encourage more e-banking customers.