Table of Contents

Introducti on:......................................................................................................................................2
I. PESTEL model:...............................................................................................................................3
1. Political – Legal:.....................................................................................................................3
2. Economical:...........................................................................................................................4
3. Social:........................................................................................................................................6
4. Technological:............................................................................................................................7
II. Porter’s 5 force..............................................................................................................................9
1. Threat of new entrants:.........................................................................................................9
2. Bargaining Power of Buyers:..................................................................................................9
3. Threat of Substitute Products:.............................................................................................10
4. Bargaining Power of Suppliers:............................................................................................10
5. Rivalry among existing competitors.........................................................................................10
III. SWOT model:...........................................................................................................................11
Conclusion:.......................................................................................................................................14
References:.......................................................................................................................................15

1
Introduction:

The banking industry in recent years has contributed significantly to the economy of
Vietnam. Always innovating, approaching new technologies, launching new products and
services to bring more convenience and convenience to consumers. 2019 is considered 12
months of many crucial milestones for the Vietnamese banking enterprise when the business
outcomes of many industrial banks have reached and passed the set targets, setting a new
report of profit, forex reserves and remittances reached an excessive level, credit score boom
changed into curbed, and virtual banking era changed into an increasing number of
developing. This is also the basis for credit institutions to be extra constructive about business

prospects in 2020. Many industrial banks display that there was a large

breakthrough in the profit increase of every bank inside the final file
commercial enterprise performance. In addition, in the past year, the banking industry
has left a number of important marks, especially the adjustment of a series of policies to help
credit institutions gradually stabilize. In September 2019, The State Bank determined to
decrease the operating rate for the first time given that 2017. Accordingly, the refinancing
interest charges reduced from 6.25% - 6% per year, the discount fee decreased from 4.25% to
4% per year. By November 2019, the State Bank endured making changes to the deposit and
ceiling hobby rates. The most interest charge adjustment applicable to call for deposits and
terms from 1 month too much less than 6 months decreased by 5.5%/year - 5%/year. Along
with that, the maximum hobby rate relevant to call for deposits from 1 month to less than 6
months at people's credit score funds, microfinance establishments decreased 6% - 5.5% per
year. In particular, in 2019, with the explosion of generation has led to the strong
improvement of businesses. The banking device has additionally stepped up the improvement
and application of the era of Industry 4.0 to credit operations and operations. Accordingly,
the advent of the digital era into the banking gadget is expressed through the conversion of
chip cards, combined with the development of cellular applications, closer to cashless
payment. The State Bank is currently stepping up the use of cell money through collecting
remarks on mobile money, non-cash payments and e-wallets. Through this report, we will see
which external factors have affected the bank in general and Techcombank in particular.

Mainbody:

2
 I. PESTEL model:
1. Political – Legal:
Political factors have a certain influence on the banking industry. When doing business in a
country's banking industry, it must always comply with its laws. Moreover, the regulations of
the state are increasingly clear, always creating favorable conditions for domestic and foreign
businesses. In particular, when the Covid epidemic occurred, the government had many
policies to support credit institutions. The Government promulgates Circular No. 01/2020/
TT-NHNN which stipulates the consolidation of financial institutions and international bank
branches to restructure the redemption, exemption and reduction of interest and fees and to
retain the debt category. Therefore, banks will have more time to pay debts and reduce
interest rates and repayment fees. Many regulations have been relaxed to allow foreign banks
the opportunity to participate in the Vietnamese market, which has created pressure for local
banks. In addition, political stability, including tax law, investment law, business law,
industry regulation, competition law, etc. are always factors that influence the operation of
banks and regulate Marketing strategy orientation. Moreover, the economic and political
situation in Vietnam is very stable, so when the Covid epidemic happened, people always
trusted the state and were assured of using the bank's services.

Techcombank has announced a VND 30 trillion support package for sharing difficulties,
creating conditions for customers to stabilize their lives and recover their businesses. In that
package, corporate customers are supported up to VND 20 trillion, advising debt structure to
customers about the unlimited number and value of loans, with fast time, convenient
procedures. Profit is based on Circular 01/2020 / TT-NHNN of the Government of Vietnam.
The Bank also pledges to ensure sufficient credit to support businesses wishing to develop
their business. With the remaining 10 trillion dong, individual customers will be supported to
reduce interest rates for new loans / refinance loans from 1 / 4-30 / 6 and subject to the direct
impact of Covid is reduced. The maximum interest rate is up to 2%, within the grace period
of up to 6-12 months for the loan. In addition, customers affected by the income of Covid
will receive a maximum interest rate reduction of 1-2% for each loan with a preferential term
of 6 - 12 months. (Techcombank, 2020)

3
 2. Economical:

GDP of Vietnam from 2010 to 2020

2019 is that the year of "breaking through" to attempt to with success implement the
economic development set up. The gross domestic product (GDP) in 2019 has achieved
spectacular resultsthe economic growth reached 7.02% that also surpassing the National
Assembly's target of 6.6 - 6.8%. Shows that the macroeconomy is stable, inflation has been
controlled at the lowest level in the past 3 years. The labor structure has shifted in a positive
direction when unemployment, underemployment rate is declining and the income of workers
is increasing. According to a report by the General Statistics Office, in the same period last
year, GDP in the fourth quarter was estimated to have grown by 6.97%. In particular,
agriculture, forestry and fishery grew by 1.62%, industry and construction grew by 6.97%. In
particular, agriculture, forestry and fishery grew by 1.62%, industry and construction
increased by 7.92%, and service sector also increased by 8.09%. In 2019, trade and service
activities continued to grow stably and grow fairly. The total retail income of consumer goods
and services in 2019 increased with the of 11.8% over the previous year, the highest boom
inside the length of 2016 - 2019. (baoquocte, 2019)

Techcombank was officially awarded the Decision of Basel II by the State Bank on June 11,
2019. For the banking industry, when the bank reaches all three pillars of Basel II, the system
will become more sustainable. Circular 41/2016 / TT-NHNN stipulates that most of the two
pillars of Basel 2 are capital adequacy ratios and information disclosure. One of Basel II's
most critical necessities is to ensure a minimum capital adequacy ratio (CAR) of at least 8%.
At the cease of Q1/2019, Techcombank's capital adequacy ratio (in line with Circular 36)

4
reached 13.8%, with the Bank's sales and profit earlier than tax in Q1/2019 attaining a similar
report respectively VND 4.2 trillion and VND 2.6 trillion. This is ideal information for
Techcombank at the time the financial institution persevered to document sales increase for
14 consecutive quarters, with the minimum capital adequacy ratio (CAR) constantly staying
excessive at around 14%.

However, there was an outbreak of Covid in the last days of 2019 and early 2020. After that,
the disease has gradually spread to the world, up to now, countries are still more or less
affected by the epidemic. The economy of Vietnam is still in a state of development, but so
far the economy has been affected by the Covid epidemic 19. Facing complicated movements
of the Covid epidemic, it had a significant impact on the market, causing difficulties for
enterprises and severely unemployed laborers. Businesses have to change their business
model or cut down staff because there is no revenue or employment. Through a quick report
from 22/63 provinces and cities, according to the Ministry of Labor - Invalids and Social
Affairs, up to mid-February, up to 1027 workers have lost their jobs due to the impact of the
disease. Of which, accounting for 35.5%, mainly falls into the service sector. (tapchitaichinh,
2020). Moreover, when workers lose their jobs, this means that their income is reduced, so
their spending on family life and themselves has decreased compared to before the outbreak.
Especially for the banking industry has been affected a lot. When an employee is infected
with Covid or quarantined, the work of that employee will be delayed, affecting the
psychology, productivity of other employees and the banking system. Besides, when the
information of a bank having an employee infected with an epidemic is spread out to
everyone, the reputation of the bank will be spread. Customers will be afraid to go directly to
the bank so its services will certainly be affected.

Based on the variety and nature of Sellers, quantity and nature of Buyers, nature of Product,
Entry and Exit situations and Economies of Scale to know the market shape of a business.
(yourarticlelibrary) .With those factors, we will see that the market shape of Techcombank is
the monopoly market. A monopoly is a market, the simplest one dealer of products has
barriers to access to others. The product has no close substitutes and the cross-elasticity of
demand for all other merchandise could be very low. The bank's products are notably solid
and sloping right down to the right, primarily based on purchaser tastes and income.
Therefore, many merchandise can be bought at lower prices. In addition, they can set the fee
to their most advantage. However, a bank can most effectively do certainly one of the things,
that's to set both fee and output but now not both.

5
 3. Social:
Vietnam is a country with a long history, many traditions that have been inherited so far and
are now becoming more and more modernized according to new global trends. When
transforming from an outdated agricultural economy to a modern industry, Vietnam has
become a country that is on the path of strong development. Besides cultural values, values of
Vietnamese people are also being more honored. With a population of up to 97 million
people of which 37.7% of the population is urban (36,727,248 people in 2020) and the
average age in Vietnam is 32.5 years old. (worldometer). Although the population of our
country at the working age makes up a large proportion, the labor force participation rate
accounts for only 78.8% of the population (according to the 2015 survey). Moreover, per
capita income in each province / city is divided into regions with different distances.
Especially in big cities, the minimum wage in Region I is VND 4,420,000 dong / month,
Region II is VND 3,920,000 dong / month while in Region III provinces it is VND 3,430,000
dong / month and Region IV is VND 3,070,000 dong / month. (thuvienphapluat) .Therefore,
there is an uneven distribution between areas. Although the Human Development Index
(HDI) of Vietnam has increased, the population quality in general is still low. Therefore,
most banks expand their branches in big cities. A place with a high intellectual life where
they can be aware of everything and use many convenient services in their lives. Urban
people will always be updated with new things, new technologies useful for work, home and
themselves. They will be more interested in the bank because it has convenient services that
help them manage money most effectively and make payment simpler in the 4.0 era. As for
the rural people, they have little need to use the utilities that the bank brings. Because the
place where they live does not have a high intellectual level, it is difficult to quickly absorb
the developing things. For those living in rural areas, they do not care too much about the
banking industry, only when they need to borrow capital to invest, they can learn and use the
services of famous banks.

Recently, Techcombank has been active in marketing activities to promote its brand. To
promote the brand, Techcombank has used many different forms of advertising such as
newspapers, magazines, television, and on Social Media platform .... By doing so, the bank
has attracted many different types of customers at the same time to let more people know
them. Techcombank has focused a lot on advertising time on holidays, New Year, the
anniversary of the establishment of the bank or the newly opened branch. Content in ads with
product images, new bank services such as automatic teller cards, fast money transfer service,

6
account balance inquiry, electricity, water, pay, etc. has taken the first steps to attract
customers. In addition, Techcombank has participated in many social and charitable
programs and left a mark in the hearts of the public. About an effective business bank, always
contributing to the community and society. The sponsorship activities are known as the
annual scholarship program for the quite good students, the poor students overcome
difficulties of universities; the program to support families in difficult circumstances and
flood victims. In addition, Techcombank has donated VND 100 million to the Vietnam
Children Support Fund for surgery for children with disabilities, children who are victims of
Agent Orange, cleft lip, frog arches and heart surgery. Not only that but the bank also
exclusively sponsors the walking fundraising program to celebrate the 32nd anniversary of
Liberation of the South and International Labor with a total value of 200 million VND.
Besides, Techcombank also participates in many other activities. But with this marketing
strategy, the company brings a lot of reputation and is full of factors that help it gain great
recognition from customers across the country. ( ) .In 2019, Techcombank is honored to be
the only new enterprise in the Top 9 leading enterprises in Vietnam (including State and FDI
companies). This ranking is based on the overall evaluation criteria of profit (ROA; ROE;
ROR), profit before tax and total revenue. With the brand position of "Exceeding Every
Day", Techcombank is committed to enabling customers, partners and employees to realize
their dreams in their own way. (Techcombank)

4. Technological:
When the economy is on the rise, technology has become an effective support for businesses.
With modern technology, it has helped many banks boost their business activities, reduce
transaction costs but also increase security, transactions and more safety. At the same time, it
opens up great opportunities for banks to step up their products and services in building a
cashless society. With a cashless payment method that is both fast and safe, especially
convenient for high-value transactions, remote transactions, avoiding the risks of carrying
cash such as theft, avoiding the Physical risks such as tearing, corner loss cannot be used.
Vietnamese banks have actively cooperated with Fintech and launched products such as
integrated mobile payment applications, e-wallets that are new payment solutions. As a
result, increase customer base, improve service use, increase customer experience and bring
convenient products and services to people in remote areas.

Especially, Techcombank always updates new technologies to bring convenience to their

customers. They always update their e-banking software regularly to fix errors and integrate

7
new services. Particularly recently, Techcombank has transformed the form of notice of
balance fluctuations via F@st Mobile application to replace SMS. With this new application,
customers will not have to pay for service charges, just in a place where they can connect to
Wifi / 3G / 4G / 5G networks can receive notifications from the bank. The account balance
inquiry becomes quicker, more convenient and does not take much time to receive SMS. At
the same time, the online registration is convenient and free right on the F@st Mobile app. In
addition, Techcombank stopped providing Token Key authentication method and completely
replaced it with Smart OTP authentication method from April 17, 2020. The Smart OTP
authentication method is the highest security method completely free of charge, with many
outstanding and convenient advantages, chosen by Techcombank. In addition, when using
Techcombank's E-Banking, customers can transfer money between banks and between each
other without fee, this is the difference that Techcombank has done that other banks are not.
In order to bring security and more utilities for customers, Techcombank is still changing in a
positive way with the policy of taking customers as the main. Along with modern products,
meeting new needs and the ability to provide utilities to customers, the bank has received the
trust of consumers as well as the evaluation and recognition of organizations. and prestigious
international financial experts. Techcombank is also honored to receive the Best Bank Award
in Vietnam 2016 by Alpha Southeast Asia and Asia Finance. (Techcombank, 2020)

In the race of technologyization, the strong trend of digitization forces the Finance - Banking
industry to innovate to keep up with the times, otherwise it will be left behind, or eliminated.
Therefore, Techcombank will encounter rivals such as Vietcombank and BIDV.
Vietcombank has built a variety of electronic banking services such as VCB-iB @ nking,
VCB-Mobile B @ nking, VCBPAY, VCB-SMS B @ nking and outstanding financial
features that can transfer money and make payments. online, top up phone, book a car ticket,
pay via QR code, ... Customers will effectively solve daily financial problems such as
shopping, entertainment, spending management through services. Vietcombank electronic
banking. BIDV also has many other utilities such as VnShop to help customers buy things
more easily in convenience payment or redeeming points to redeem incentives in the fields of
food, shopping, health, travel. calendar, education, travel. Besides, BIDV's customers can
give gifts to their relatives through the application by the method: In the race of
technologyization, the strong trend of digitalization forces the Finance - Banking industry to
innovate to keep up with the times, otherwise will be left behind, or eliminated. Therefore,
Techcombank will encounter rivals such as Vietcombank and BIDV. Vietcombank has built a

8
variety of electronic banking services such as VCB-iB @ nking, VCB-Mobile B @ nking,
VCBPAY, VCB-SMS B @ nking and outstanding financial features that can transfer money
and make payments. online, top up phone, book a car ticket, pay via QR code, ... Customers
will effectively solve daily financial problems such as shopping, entertainment, spending
management through services. Vietcombank electronic banking. (Vietcombank, 2020), and
BIDV also has many other utilities such as VnShop to help customers buy things more easily
in convenience payment or redeeming points to redeem incentives in the fields of food,
buying shopping, health, travel, education, travel. Besides, BIDV customers can give gifts to
their relatives through the application by a very simple method, just go to the gift card
selection section, write wishes and enter the amount you want to be able to send to people.
You want to congratulate. (BIDV, 2020)

II. Porter’s 5 force

1. Threat of new entrants:
There are many businesses that want to join the banking industry, but very few people can
succeed in this industry. First, the industry involves money and financial information, so new
banks will have trouble starting a business. New entrants will have difficulty obtaining a
business license. At the same time, they need to have a certain amount of capital, insurance
and pay a fee to set up a credit institution according to Circular 150/2016 / TT-BTC under the
law of the Ministry of Finance. Second, the biggest obstacle to joining this industry is belief.
For business individuals, they always put their trust in big banks with a long history,
credibility and reliability. Large banks with a strong position in the industry will give
customers certain confidence and will make them use the services in that bank. The important
task of banks is to serve the majority of the budget needs of businesses and individual
customers. Therefore, banks always want their customers to make the most of their services.
For new banks, they only have the most basic services while large banks have many services,
easily accessible to different types of customers. Besides, big banks are well known for their
brand names and new banks have not built their brands and their differences with other
banks. Moreover, consumers often allow a bank to hold all accounts as well as serve their
financial needs. It can be said that the barrier to join the banking industry is relatively low.
Although newly established banks may not have the same consumer and multi-service beliefs
as large banks, they can still operate a small bank at the regional level.

9
 2. Bargaining Power of Buyers:
For individuals, there is no threat in the banking industry, but the factors that influence the
power of buyers are high conversion costs. For example, if a person uses a bank to serve their
financial needs such as savings, investments, checks, etc., then when they want to switch to
another bank, that becomes a big problem. Other banks, when trying to persuade them, often
reduce conversion costs. However, most people remain close, staying with their current bank.
Because banking is a high service industry, before using certain services, customers will also
learn about banking first. When they trusted the choice of using the bank's service and did not
want to switch to another bank, it seemed that they had become loyal customers of the current
bank. Moreover, for each different bank, they have identified who their main customers are.
In addition, as technology is developing, the internet is ubiquitous, increasing the influence of
buyers. The website makes it easy for users to evaluate, compare the cost of
opening/maintaining accounts and service prices from different banks. Not only that but
when banks access new technology, they will help customers transfer money easily through
smart banking software on their phones and computers. This has resulted in low conversion
costs and reduced time and capital.

3. Threat of Substitute Products:

Some of the alternative threats of the banking industry do not come from their competing
banking rivals but rather non-financial rivals. The banking industry does not pose a threat to
alternative accounts such as credit or withdrawals but for insurance, finance, income
securities and is one of the banking services provided by institutions non-bank. Moreover, the
threat comes from replacing payment methods and relatively high loans for businesses in the
industry. Which consumers would normally get from a traditional bank loan, non-bank
institutions offer lower interest rates on payments.

4. Bargaining Power of Suppliers:

In the banking industry, capital is always the main resource of any bank and contributes from
the four main suppliers. Including customer deposits, mortgage and loans, mortgage-backed
securities, loans from other financial institutions. From there, the bank can ensure the
resources needed to benefit its customers while maintaining sufficient funds to meet the cash
withdrawal expectations. The strength of suppliers is largely based on the market, their
strength ranges from medium to high.

10
 5. Rivalry among existing competitors
The banking industry can be said to be highly competitive. This industry has existed for
hundreds of years, almost everyone needs to use banking services, but nowadays, there are
many foreign banks participating in Vietnam market. Therefore, local banks have always
attracted more customers for themselves through different ways such as providing a variety
of different financial services, applying technology to services and real estate. products to
make it more convenient or have special offers on special occasions for their customers. The
competition between banks is like a race because everyone wants to become the best service
provider at the same time, the fastest and most convenient, but it will make banks encounter
lower ROA. production). Due to the nature of this industry, banks will occasionally merge.
Mostly, we can see that large banks with sustainable foundations will acquire smaller banks
than them or cooperate with domestic and foreign banks instead of marketing and advertising.

III. SWOT model:

Strenght Weakness
Young and dynamic employees are Spend too much trust in their employees
professionally trained
The bank has the best credit rating in
Vietnam
Opportunity Threat
Many development opportunities in 4.0 Technology develops so quickly it is hard to
market especially in technology application keep up

In training, Techcombank offers a variety of skills development programs; Emotion

management and professional development. The training courses include: E-learning courses
for all employees, leadership development programs, capacity development programs to
improve staff's English proficiency, internal training courses to improve In order to improve
the professional capacity of employees, the training courses are conducted by external experts
and foreign training courses. Besides, to retain talents as well as maintain the business
activities of the bank. Techcombank always creates conditions for every employee to
promote and develop with programs such as internal rotation, Talent pool, conversion
projects and Coaching & Buddy programs. In terms of staff development policy,
Techcombank has a clear career roadmap for each job position at the bank and creates
favorable conditions for each individual to achieve the set goals. Techcombank also actively

11
takes care of the cultural and spiritual life of its employees through a variety of attractive and
cultural corporate activities, promoting cooperation, mutual support, and sticking with the
collective for common goals. Remuneration policies and personnel policies of the Bank
always focus on honoring those who are highly effective and bring valuable values to the
organization. Techcombank always creates a dynamic working environment and encourages
all employees to promote their abilities, make progress in their career and enjoy worthy
results. The Bank ensures the well-being and benefits, encourages employees to contribute,
be creative, and create conditions for them to learn more and make progress in their careers.
Techcombank has been ranked in the top 3 best working places in the banking industry and
ranked 24th among the 100 best work places in Vietnam 2014, according to the survey
"Brand employer health of Vietnam" by Anphabe and Nielsen perform. At the same time, it
has met a set of criteria including salaries, bonuses, benefits, development opportunities,
culture and values, leadership, quality of work and life, and reputation of the company.
(Techcombank).

It can be said that Techcombank's staff training program is very professional, so their
competitors companies always want to know the details of internal training materials. In
November 2019, Techcombank reported on an economic newspaper that an employee was
fired for an internal document theft practice. The employee was involved in the theft of
internal bank documents when he first handed out his resignation letter for personal reasons.
Through investigation, ANTT discovered that these were internal training documents,
business plans, business processes, strategies, business plans ... - confidential documents
developed by SnD Division. for several years. The alleged behavior of this employee was to
send internal documents from bank email addresses to personal emails. Moreover, in essence,
this employee wants to switch to work for a company also in the industry. (vietnambiz). This
is like a lesson for banks to be overly trusting their employees. Although trusting employees
is not wrong, Techcombank should pay more attention to managing employees as well as
managing confidential documents of the company.

Techcombank has upgraded its credit rating and continues to be among the leading
commercial banks. Moody's Investors Service is one of the three largest companies in the
world in credit rating, raising Techcombank's long-term counterparty risk rating from B2 (cr)
to B1 (cr). At the same time, they also upgraded the baseline credit assessment (BCA) of
Techcombank from b3 to b2. The upgrade of the baseline credit rating (BCA) to Moody's b2
is based on the significantly improved asset quality of Techcombank, along with healthy

12
capital mobilization and liquidity structure. Credit rating information has marked good news
in succession to Techcombank. Techcombank is also honored to receive many consecutive
awards from prestigious international organizations: "Enterprise with outstanding personnel
policy" from HR Awards 2016; "Outstanding Vietnamese Bank of the Year" from AsiaRisk;
2016 Best Bank Award in Vietnam, Platinum Award for Best Domestic Bank from
FinanceAsia; Awarded the Best Bank in Vietnam (2007 - 2016), Best Commercial Finance
Bank in Vietnam, Best Bond Issuing Consultant from Alpha Southeast Asia; Best Electronic
Banking Award from The Asian Banker, Vietnam House of the Year Award 2019 from
AsiaRisk (Techcombank)

Vietnam's banking system is one of the pioneering industries, taking the lead in the
development trend 4.0. Many domestic banks have actively researched and invested heavily
in some of the technological achievements of the 4.0 technology revolution in their products,
services, activities and governance in order to improve operational efficiency, Increase
customer experience. Commercial banks have a high-quality funding in facts generation
infrastructure, next-generation core bank applications, implementation of new technology
innovations, the introduction of creative approaches pursuing the general pattern of digital
transformation and digitization of banking systems to provide digital goods and services
focused on usability, friendliness, integration, knowledge and seamless multichannel
customer access. Banks always capture opportunities, make bigger the supply of suitable
banking services and products to clients to advantage new achievements to keep away from
falling behind. Real deployment of excellent software technology such as cloud storage,
broad data analysis, artificial intelligence, apps and solutions such as biometric verification,
data sharing using a transparent framework for collaboration apps ... (tapchitaichinh)
Techcombank prioritizes investment in economic generation packages. Vietnam actually has
about 45 percent of the population accessing the Internet, which is equal to 41 million users
and about 21 million people own a smartphone, and over 30 million people using social
networking sites. Those are promising reasons for the growth of digital banking services in
Vietnam to a prosperous future. According to Techcombank statistics in 2015, the growth
rate of e-bank users increased by 73% relative to 2014, whereby the number of daily clients
using the service increased by 45%; the total volume of transactions also increased by 25%;
electronic payment transactions increased by 42%. In addition, there may be growing
penetration into the personal financial marketplace of fintech companies, forcing banks to
constantly apply new offerings and solutions even as rethinking the technique. The technique

13
works if you don't need to be overdue in this capacity online banking market. Techcombank
has pioneered in the industry among the banks who are aggressively applying technology to
invest in many new technologies on Internet banking and mobile banking. Techcombank
constantly spends extensively in business services and operational resources, as well as
administrative staff and project management. The Bank's information management program
also guarantees full confidentiality of consumer data and transactions. The Bank's top priority
in the technology era is being able to meet consumption trends. In addition, many innovative
solutions such as Mobile Banking, JCB Card & Mobile POS are also known to Techcombank
.... The integration of payment features into online trading platforms, prominent as Internet
Banking, allows customers to place automatic payment orders to make regular and timely
transactions from telephone recharge to pay service bills. With innovative technologies,
addressing emerging demands and the opportunity to supply consumers with services, this
bank has earned market trust, as well as organizations and respected foreign financial experts
being reviewed and recognized. Additionally, Techcombank was awarded by Alpha
Southeast Asia and Asia Finance to win the Best Bank Award in Vietnam 2016.

The banking sector also faces a significant challenge in developing new legal regulations to
meet the needs of technological reform, challenges in preventing cyber security risks and
protecting customer information secrets. . The situation of ATM with skimming in Vietnam
market continues to increase with new and more sophisticated tricks and methods. According
to the report of the Risk Management Committee - Vietnam Banking Association, in the first
6 months of 2019, there were 88 reports on ATM skimming of commercial banks.
(tapchinganhang) For Techcombank, the bank had to apologize for the service disruption
after the e-banking upgrade. The bank has announced in advance the use of the holiday
season to upgrade the system to the new version, with the desire to develop new features and
solutions for customers. However, on 4/5/2020, when the number of visitors increased and
the number of transactions increased by 4 times compared to the normal day, the upgraded
version gave rise to the phenomenon of instability, causing images. enjoy access speed and
disrupt transactions on electronic banking channels. (Techcombank) .This shows that the
bank has not controlled the technology in electronic banking channel, so such an error
occurred.

Conclusion:
Through this report, we can see that the banking industry has contributed a lot to the country
and will also be affected more or less by external factors that we can hardly predict, like

14
Covid epidemic. At the same time, it is clearer how the external factors have affected an
individual bank like Techcombank.

References:
1. Worldometers.info. 2020. Vietnam Population (2020) - Worldometer. [online]
Available at: <https://www.worldometers.info/world-population/vietnam-
population/> [Accessed 10 June 2020].
2. Consosukien.vn. 2019. Dấu Ấn Ngành Ngân Hàng Năm 2019 Và Triển Vọng Năm
2020. [online] Available at: <http://consosukien.vn/dau-an-nganh-ngan-hang-nam-
2019-va-trien-vong-nam-2020.htm> [Accessed 10 June 2020].
3. Trang thông tin điện tử - Hội đồng lý luận TW. 2018. Giá Trị Văn Hóa Và Giá Trị
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