ACADEMY OF FINANCE UNIVERSITY OF THE SOU

ACADEMY OF FINANCE UNIVERSITY OF THE SOUTH TOULON VAR PROFESSIONAL DEGREE IN BANKING AND INSURANCE PROJECT REPORT Topic: Contributing to increase the number of debit card issued in the late 2013's months of Marketing and Service Department at Agribank Northern Ha Noi branch” Supervisors Students (Group 13) Mr LE Quan (AOF) PHAN Thu Huong Mr HO Nhu Hai (AOF) VU Phuong Minh Ms Marie José CAMBRELING (USTV) PHAM Thi Giang Ms Daphne DUVERNAY (USTV) NGUYEN Anh Tu HOANG Thiet Luy PHAN Hoang Duc Hanoi, January, 2014 PROFESSIONAL DEGREE IN BANKING AND INSURANCE PROJECT REPORT | Group 13 ACKNOWLEDGEMENT Vietnam's economy is being in transition towards a socialist-oriented market economy regulated by state, performing open – door policy to the international economy Therefore economic activity becomes increasingly diverse and complex today In that context, Banks and Banking sector are being more and more crucial to the national economy Bank is one of the most sensitive businesses all over the world, custodian to the assets of the general masses The banking sector plays a significant role in a contemporary world of money and economy It influences and facilitates many different but integrated economic activities like resources mobilization, poverty elimination, production and distribution of public finance Internship training program is necessary for the partial fulfillment of the completion of Professional degree in Banking and Insurance project After around months taking part in internship at Vietnam Bank for Agriculture and Rural Development (Agribank) – Northern Hanoi branch, we have a chance to carry out the promotion for issuing debit card To complete this report, besides all members’ effort, we would like to express our deep gratitude to:     To director, teachers working at Academy of Finance, thanks to their helps we can apply what we learn to reality and in this report Mr LE Quan and Mr HO Nhu Hai guided us during period carrying out the project and to write down report The teachers working at South Toulon-Var University, especially, Ms Marie José Cambreling because of all her guide, evaluation to overcome our mistakes, weaknesses when doing project We also thank Ms Daphne Duvernay to help us to choose our subject which is best and suitable; and she also shows us the significant steps to carry out project Thanks to Agribank North Hanoi branch for giving us many good conditions to finish the internship We would like to express our gratitude to Mr KIEU Binh Minh – Vice manager of Marketing and Banking services Department for giving us all information when we this project Thanks to this help we can participate in issuing debit card Sincerely thanks, Group 13 PROFESSIONAL DEGREE IN BANKING AND INSURANCE PROJECT REPORT | Group 13 ABSTRACT The final report is a summary of all things we have done during the project, these were recorded carefully in details and represented under the form of chapters:  In Chapter I, our internship group illustrates the general overview of this project in term of the reasons why we chose that project title, the purpose and also the mission of the project  In Chapter II, the report described in details the process we conducted the plan built to translate project’s objective into reality and get achievement Based on the results get from a survey which we had deployed before, members in group together used flexibly different marketing tools to approach customers and persuade them After being succeeded in finding out customers, we conduct the transaction with bank on behalf of them  In Chapter III, we concentrated on express all our achievement after implementing the project, difficulties we have met, our final results and consideration and evaluation as well PROFESSIONAL DEGREE IN BANKING AND INSURANCE PROJECT REPORT | Group 13 TABLE OF CONTENTS Page CHAPTER I: GENERAL OVERVIEW OF PROJECT………………………………… General overview of Agribank …………………………………………………………4 General overview of Agribank Northern Ha Noi Branch ………………………………5 Reasons to choose the project………………………………………………………… 3.1.The issues………………………………………………………………………… 3.2.The potential of Agribank debit card service……………………………………….7 Purposes of the project………………………………………………………………….8 Mission of the project………………………………………………………………… CHAPTER II: THE PROCESS OF CONDUCTING PROJECT………………………….10 Conducting a survey…………………………………………………………………….10 1.1.Reasons…………………………………………………………………………… 10 1.2.Objectives………………………………………………………………………… 10 1.3.Method …………………………………………………………………………… 10 1.4.Results…………………………………………………………………………… 10 Survey analysis……………………………………………………………………… 11 Using flexibly marketing mix to approach customers………………………………… 17 3.1.Social media marketing………………………………………………………… 17 3.2.Print media marketing……………………………………………………………… 18 3.3.Word – of – mouth ………………………………………………………………… 20 Complementing card making transactions……………………………………………….20 4.1.Filling in the form…………………………………………………………………….21 4.2.Taking promissory paper…………………………………………………………… 21 4.3.Getting the card………………………………………………………………………22 CHAPTER III: PROJECT’S RESULTS JUDGEMENT…………………………………….24 Achievement …………………………………………………………………………… 24 1.1.In term of knowledge ……………………………………………………………… 24 1.2.In term of practice…………………………………………………………………….24 Difficulties……………………………………………………………………………… 25 2.1.In term of organization……………………………………………………………….25 2.2.In term of operation ………………………………………………………………….25 Project results and experiences gained………………………………………………… 26 3.1.Project results……………………………………………………………………… 26 3.2.Experiences gained………………………………………………………………… 26 PROFESSIONAL DEGREE IN BANKING AND INSURANCE PROJECT REPORT | Group 13 CHAPTER I: GENERAL OVERVIEW OF PROJECT General overview of Agribank Established on 26/3/1988, operating under the Law on Credit Institutions of Vietnam, until now, the Vietnam Bank for Agriculture and Rural Development (Agribank) is the leading commercial bank in Vietnam, plays a key role in development of Vietnam's economy, particularly investment in agriculture, farmers and rural areas  Agribank is the largest bank in Viet Nam in terms of capital, assets, workforce, operating network and customer base As of October 2012, the leading role of Agribank has been confirmed by:  Total asset: Huge and upward – trended , reached VND 671,846 billion at the end of 2012  Total fund resources: witnessed an upward trend through period, ended 2012 at nearly 600,000 VND Billion  Total outstanding loan to the economy reached more than 500,000 VND billion, in which the outstanding loans to agriculture and rural areas account for 70% bank’s total loans portfolio Unit: VND Billion 800,000 672,000 700,000 593,648 600,000 524,000 500,000 470,000 474,941 434,331 400,000 560,000 505,792 523,088 443,476 414,755 354,112 300,000 200,000 100,000 2009 Total assets 2010 Total fund resources 2011 2012 Total outstanding loans  Operating network: 2,400 branches and transaction offices nationwide  Personnel: 42,000 staffs  Agribank is the first bank to accomplish the Project “Intra Payment and Customer Accounting System” (IPCAS) funded by the World Bank The finalised IPCAS has enabled Agribank to provide local and foreign customers with modern banking products and services with extensive safety and accuracy PROFESSIONAL DEGREE IN BANKING AND INSURANCE PROJECT REPORT | Group 13  Agribank is a leading bank in Viet Nam in terms of receipt and implementation of foreign projects, especially from the World Bank (WB), Asia Development Bank (ADB), French Development Agency (AFD), and European Investment Bank (EIB) Agribank is currently taking the chairmanship of Asia Pacific Rural and Agricultural Credit Association (APRACA) in term of 2008 - 2010  At present, Agribank is serving millions of households and enterprises  Agribank is one of the banks in Viet Nam who have the largest number of correspondent banks with 1,033 correspondent banks in 92 countries and territories  Mission Maintaining the leading bank providing the modern and high quality products and services, meeting the demand of customers and increasing the noncredit income  Vision Promoting the role of the leading bank in the national economic development and the dominant role in agricultural and rural financial market, serving agriculture, farmers and rural areas Giving priority in investment in agriculture, farmers and rural areas especially to farm households with agricultural, forestry, fishery, and salt (Data collected from the Agribank official website and Agribank annual report 2011) General overview of Agribank Northern Ha Noi Branch:  Established date: 05/09/2001  Official operation date: 01/11/2001  Address : 266 Doi Can Street, Ba Dinh District, Ha Noi, Viet Nam  Functions: Agribank Northern Ha Noi Branch - a level I under branch of Agribank – has been a leading commercial bank in Viet Nam in terms of prestige, assets and the wide range of offered products and services  Operation system:  functional departments and transaction offices  Personnel : over 170 staffs Reason to choose the project Title of the project: “Contributing to increase the number of debit card issued in the late 2013's months of Marketing and Service Department at Agribank Northern Ha Noi branch” 3.1 The issues:  Vietnamese now are becoming more and more familiar with non – cash payments which are much more convenient and, up to a point, secured than transaction using cash Among kinds of payment card, debit card has been more popular with Vietnamese as the inevitable result of Vietnam’s economy characteristics: a developing country with the middle – income level  Agribank debit cards (including local and international) bring high quality services to customers, to be one of the leading card issuers in the market  Agribank has been honored to receive “Vietnam Trust and Use 2013” for "Products and services Agribank VISA card" with the appreciation of consumers about the quality of products and services  To date, the total number of cards accumulated issued by Agribank reach more than 12 million cards, accounting for about 20% of the market share of card In particular, as of 10/31/2013, Agribank has released more than 113,000 Visa-branded cards PROFESSIONAL DEGREE IN BANKING AND INSURANCE PROJECT REPORT | Group 13   Agribank continue to improve service quality, diversified product portfolio through product and new card services deployment, such as local debit cards Gold "Plus Success", increased utility expanse for deploying cards as online payment function for local debit card (e-Commerce) 2013, ATM system is continue equipped with 200 machines, bringing the total number of Agribank ATM machines across the country to 2,300 Beside this, Agribank implemented various preferred promotions for cardholders and cards accepted points Thereby meet the increasing needs of customers and contribute to increase sales transactions through cards  However, in recent years, the growth of debit card issued by the Agribank Northern Ha Noi Branch has experienced a marginal decrease 18,000 17,000 15,600 16,000 14,000 12,750 12,000 10,000 9,200 8,000 6,000 4,000 2,000 2009 2010 2011 2012 Number of active Debit Card In addition, the percentage of debit card issued by Agribank Northern Ha Noi Branch although sill outstanding that of other credit card, but the trend has been downward 2010 2009 1.8% 1.2% 98.8% Debit card Credit card 98.2% Debit card Credit card PROFESSIONAL DEGREE IN BANKING AND INSURANCE PROJECT REPORT | Group 13 2012 2011 2.3% 2.1% 97.7% 97.9% Debit card Credit card Debit card Credit card  Actually, the number of issuing card of banks in Viet Nam is calculated based on the accumulated rule, it means that among high number of issued card, there is a much more lower figure of real customers In addition, card issued, no doubt, may not be used by the customers (It is the result of issuing race policy between Banks in the market) Therefore our group propose that our project will be issuing debit card with totally new customers who have real need for using it, making contribution to the branch  The project is suitable for us:    The tight schedule at university not allow us much time to go to bank and access customer here Instead, choosing issuing card, we can adjust our time table more flexibly because this activity does not depend much on any certain place and moment We recognize that conducting this project will be a precious opportunity for our group to apply academic knowledge comprehensively achieved at university such as Marketing, Project management, Banking communication, Information analysis, etc and hone our practical skills, for example Persuading or Communication skill, Presenting ideas ability, Teamwork skills, and so on The project will be a great opportunity for all of students studying the major of banking sector to directly experience the practical and professional working environment which includes many differences compared to theories That is a treasured preparation for us to go to the labor market in the next summer 3.2 The potential of Debit card service  "Success" Debit Card (Local debit card) Cards can be used in scope of non-term saving account and/or overdraw in order to realize payment for products and services; to withdraw cash at ATM/EDC throughout Viet Nam territory    Benefits and advantages Customers can withdraw cash at 1702 ATMs and thousands of EDC/POS at Agribank’s transaction counters Cards can be used for products and services payment at card merchant of Agribank Customers with stable income using Agribank’s salary payment through account service may overdraw on the deposit accounts with the overdraft limit up to the maximum of VND30 million PROFESSIONAL DEGREE IN BANKING AND INSURANCE PROJECT REPORT | Group 13       Allow to execute account inquiries and print 10 latest transactions at ATMs and EDC/POS Customers can change PIN code at ATM and EDC/POS Customers can transfer and receive money promptly at ATM and EDC/POS Customers can credit their account at EDC/POS at counters Customers can execute payment for bills and purchase advance cards at ATMs Customers can use Mobile Banking services such as account balance notification, Atransfer, advance charge for mobile phone, Vnmart e-wallet, etc…  Card holders can earn non-term interest  Customers’ individual and account information is confidential  Customers can implement transactions at thousands ATM machines and EDC/POS through the Banknet - Smartlink system nation-wide, including: cash withdrawal, money transfer, balance inquiry, pay for products and services at card merchants  International Visa/Masterdebit cards Visa/Master card issued by Agribank allows individual cardholders to use cards in scope of payment account balance and/or overdraft limit in order to pay for goods, services, withdraw/advance cash and other services at ATM, EDC/POS worldwide or through internet transactions Benefits and advantages              Customers can withdraw/advance cash at ATM, EDC/POS at counters and other cash advance points world-wide (VND in Viet Nam and other currencies in other countries) Customers can pay for goods and services at EDC or through the internet (please download application form for internet transactions here) Customers can get account balance inquiry at ATM, EDC/POS at counters Customers can change PIN code at ATM, EDC/POS at counters Customers can transfer at ATM, EDC/POS at counters Customers can deposit to EDC/POS at counters Customers can get statements at ATMs, EDC/POS at counters Customers can pay bills and buy prepaid cards Customers can use Mobile Banking: balance change, A transfer, recharge for prepaid mobile, payment of mobile phone contracts, Vnmart e-pocket Customers with stable income are granted an overdraft limit up to VND 30 million with a term of maximum 12 months Customers get free card holder accidents insurance worldwide with the insured coverage up to VND15 million/card when satisfying Agribank conditions Customers get demand interest on their payment accounts Account and personal information is kept confidential Purpose of the project  Making contribution to the Agribank Northern Ha Noi Branch  As we mentioned in the section 3.1, the payment card services in general and Debit card in particular offered by Agribank is one of the best services in the market and appreciated by the customer In addition, Agribank also pay a lot attention and effort as well to unceasingly enhance the quality of service in order to bring the convenience and satisfaction to users We recognize that the project which we are going to conduct is feasible (in our ability limit) and useful for not only the bank but also the customers PROFESSIONAL DEGREE IN BANKING AND INSURANCE PROJECT REPORT | Group 13  Beside this, there is mounting evidence that the growth of issuing debit card of Agribank Northern Ha Noi Branch has slowly decreased in recent year despite of the rise in the total number of card issued (Mentioned in section 3.1) → Implementing this product, we will partly help the branch to inform the customers about the Agribank Debit card (In terms of competitive advantages compared to other banks’ products), which may improve Agribank’s image, reputation in the customers’ mind and give a hand to grow up a small part of debit card issued  Adapting the academic knowledge studied at university to the real situation, honing soft skills to complete ourselves through the internship’s activities Mission of the project For implementation and completion of the project, we set in advanced the target and the specific schedule which need to be achieved as follow:  Preparation In this phase, we need to prepare:  The destination to conduct the project (A bank or insurance company for instance)  Determining the most suitable project title to deploy  Plan making: after succeeded in being accepted by bank, in our situation, is Agribank Northern Ha Noi Branch  In order to build a feasible plan, firstly we have to research information about Agribank and their debit card services  Identifying the existing problem of the debit card issuing situation of branch, find out the potential customers  Studying and discussing to choose the most effective manners to approach and persuade potential customers to accept the Agribank debit card  Plan implementation This phase, we set objectives as:  In terms of information: All group members need to get comprehensively understanding about Agribank Debit card  When conducting a survey to get information about customers’ satisfaction and opinion about Agribank Debit card, we have to reach 200 respondents  Diversifying advertisement tools: Using modern marketing mix: social network, the Internet, designing poster, worth – of – mouth, etc  When it comes to the quantity, at last, we need to contribute to increase the number of debit card issued by the Marketing and Services at Agribank Northern Ha Noi Branch from – 5% of the average level per month (700 debit card issued/month), equivalent with 14 – 35 new debit card users This section will be described in details in the CHAPTER II  Results evaluation After implementing the project, we need to:  Recognizing achievements, difficulties  Judging the results in terms of: unachievable tasks and causes and what we learned from the internship This section will be described in details in the CHAPTER III PROFESSIONAL DEGREE IN BANKING AND INSURANCE PROJECT REPORT | Group 13 3.3.Word – of – mouth (WOM):  Context:  When a consumer's interest for a company's product or service is reflected in their daily dialogs Word-of-mouth marketing can be encouraged through different publicity activities set up by companies, or by having opportunities to encourage consumer-toconsumer and consumer-to-marketer communications Consumers are more emotionally bonded to a company when they feel they are listened to by the company That is why many companies will have sale representatives discuss their products and services with consumers personally or through a feedback phone line This kind of interaction, as well as promotional events can stimulate conversations about a company's product  There is a definitely possibility that being consulted by a friend, a family member or an acquaintance about a product is more reliable than receiving information from the marketers when, the fact remains that the message sent by the marketers always show the best or at least, the good characteristics of the product with a lot of soaring promises, but no drawback is allowed to be mentioned  The tight schedule for studies at university and the different individual life of each member in group limit us significantly in holding appointment and making other sale activities Therefore, with all conditions above, we considered that verbal communication introduction about a specific brand to individual relations (WOM) is one of the most suitable and convenient for each member in our group can take advantage of personal network in the purpose of popularizing the characteristic of Agribank Debit Card  Method:  Taking advantage of free time in our daily life to introduce the Agribank Debit Card to friends and relatives  Encouraging them to talk about Agribank Debit Card in their daily conversations with friends, family members and colleagues Complementing making card transaction: Filling in the form Taking the promissory paper Getting the card 20 PROFESSIONAL DEGREE IN BANKING AND INSURANCE PROJECT REPORT | Group 13 4.1.Filling in the form: After getting customer who want to buy Agribank Debit card, we had to:  Guiding or helping them fill in the official register form which is also the card usage contract between the Bank and customers regulated by Agribank (The register form was attached in the APPENDICES)  Requiring customers to: o Preparing a portrait picture in any size ( 2x3, 3x4, 4x6) In regulation, the bank just accept portrait picture in size of 3x4 But it reality, in order to create convenience and attract more customers, the bank allow any size of picture  o The copy version of customer’ ID or passport which will be attached to the form to make their portfolio o Confirmation documents of salary, social allowance issued by organizations, labor administration units or authorities (If customers apply for debit account service) Each customer have their own demand on the amount of money which will be the balance in their account Therefore we received “50.000 VND + The desired balance” from customer, among these, 50.000 VND is the fee of making card 4.2.Taking the promissory paper:  In order to be convenient in receiving cards for customer when the card making process finished, we wait to collect all the customer profiles at the same time to act the role of customer’s authorized entity to the bank o In term of theory, when a person wants to act on behalf of others to implement the making card operation with bank, he or she need to be authorized by document written by that very ones But there is one thing need to be notice that the power of attorney is valid only when certified by the local government This obligation aims at ensuring the security of issuing card and reducing risk for customers However, this redundant procedure, without doubt, makes customers feel hesitated when they have tendency to buy a card o Therefore, in order to minimize complexities and encourage people, today, in term of practice, almost banks ignore that requirement in issuing card in the most cases The banks will send their staffs to go to help customer making card the faster the better without authorization confirmed by authorities In reality, it similar to the story of a bank in Hong Kong with their checks business Normally, according to regulation of banking sector, whenever a customer draws a check for the others, irrespective of the size of the transaction is 100$ or 10.000$, the bank has to compare the signature in the check with the registered one of that very customer to ensure the security of the transaction However, in practice, the bank will not always that With transaction’s size is under 100$, the bank will implement customer’s requirement without checking step This fact is explained that the loss caused by risks occurred in unsafe card making process is probably much less than the toll of loosening customer or disappointing them Our group, when implementing the project also making transactions with bank in that way Just on behalf of customers working with bank without certified 21 PROFESSIONAL DEGREE IN BANKING AND INSURANCE PROJECT REPORT | Group 13  At the end of the project, our group succeeded in finding 13 new real customers for the Agribank Debit Card service The leader of our group was on behalf of all customers, played the role of authorized person, filled information in the official promissory paper issued by the bank which means that she will be the person taking responsibility for receiving the cards and the customers not have to go to the bank to that 4.3.Getting the card:  After our group submitted the customer profiles and the promissory paper customer will have to wait the Bank for giving back the card with the PIN (Personal Identification Number), in some cases, the waiting time may be lengthened depend on the type of card o If the card is International one (Visa/ Master Debit Card): the waiting period of time may prolong from days to week o If the card is Domestic one (Success Debit Card): the waiting period of time is normally days  After customers get their card for month, they are compulsory to change their password It is a regulation of bank to minimize the risk that customers’ cards will be took advantage of in bad purposes, by bank staff for example  PROCESS OF NEW CARD ISSUANCE Through the internship, with the support and explanation from the bank’s supervisor, we are aware of the process of new card issuance in the banking system more comprehensively Following is the detail process (The model has been consulted from www.dankinhte.vn for being more professional) (1) Customers wishing to use the card, the bank customer instructions and submit the application form to the bank (2) Approval of card issuance requirements: staff performance appraisal appraisal records request card issuance and customer classification under the special category (VIP), grade or grade level on routine competent approval (3) After evaluation of customer records, if requested records to ensure the bank send a record of the card-issuing center (must be certified by the branch manager or operations manager) (4, 5, 6, 7, 8) At center, customer information will be personalized, and then send the enclosed card for cardholder PIN via Issuer (9) Get the card from the center, Issuer confirms in writing signed by professional managers or an authorized person for the card center 22 PROFESSIONAL DEGREE IN BANKING AND INSURANCE PROJECT REPORT | Group 13 Issuing bank At branch At card center Send to card center Receive request Enter issuing data Card issuing assessment Processing Receive request Encoding, emboss Receive card from center Mailing 23 PROFESSIONAL DEGREE IN BANKING AND INSURANCE PROJECT REPORT | Group 13 CHAPTER III: RESULTS EVALUATION Achievements: During month doing internship at Vietnam Bank for Agriculture and Rural Development (Agribank) – Northern Hanoi branch, our group has gained some considerable achievements as follows: 1.1.In term of knowledge, we have obtained:  The general information about Agribank in general and the Northern Hanoi branch in particular  Having the overview understanding about the business operation situation of Agribank and the Northern Hanoi branch in recent years  The main development trend of the branch  Improving our realistic knowledge and understanding about the characteristics, benefits of products and services of Agribank, especially Debit card 1.2.In term of practice, we have gained:  Each member of our group improved ourselves and gained more experiences about introducing debit card  We had opportunities to meet Agribank – Northern Hanoi branch’s leaders, heard their introduction and their share about the products and services of the bank That helped us gain more experiences and more confidence  We also had chances to contact to the customers That made us improve some important skills such as: communication skill, negotiation skill and persuasion skill, time management skill, cost management skill, etc  Internship developed our teamwork skill which is essential in every type of job  Group individuals improved, learned how to change ourselves to adapt to the working environment as well as earned more practical experiences to serve our future job  We introduced debit card directly at some universities and colleges As a result, we enhanced people’s knowledge about Agribank products and services  We attracted new customers to the and at the same time, we helped to improve the bank’s image partly to the customers  We knew how to make a good questionnaire which is suitable and beneficial for customers’ information  When we did the survey at Agribank – Northern Hanoi branch, we understood partly about the customers’ satisfaction, their wants and petitions to the bank  Internship permitted us to see the big picture of making debit card process  We had an opportunities to apply knowledge we learned from universities into practice to see the differences between theory and practice 24 PROFESSIONAL DEGREE IN BANKING AND INSURANCE PROJECT REPORT | Group 13 Difficulties: Besides getting some achievements during months practical project, we also met some difficulties and risks: 2.1.In term of the organization:  This is the first time all members in our group have cooperated to implement a mutual project Differences in the way of thinking and working lead to a number of internal conflicts, disagreements at the beginning, which obviously reduced our working effectiveness  Group members conflicted with each other in selecting suitable project title and setting up working schedule  or members in our group did not complete their own missions on time As a result, it slowed down the project’s progress  For time management, all group members were busy with a tight schedule at university Therefore, we faced a great challenge in balancing the term to studies and the term spent on the project 2.2.In term of operation:  At the beginning, it was very difficult for us to find out an organization or bank which accepted a group of members because in fact, most of organizations and banks in Vietnam just accept individual internship  The bank did not deeply understand our tasks The reason is that in Vietnam, group internship is really unpopular and totally different from individual practice Moreover, most of internships in Vietnam is theoretical meanwhile our project is practical which demand definitely different values  Setting up a specific and suitable plan to implement was really hard for us when it is the first time we have to close academic books and go to the reality to a realistic project by ourselves  It was difficult for us to contact and meet the banks’ staffs regularly because the class finished later than the office hours We only have chance to meet them on day off and contact through mails, phone calls  We were totally not supported in term of cost about transportation, prints and the other occurred expenses  When we did the survey, many customers were not willing to cooperate for many reasons For example, they did not have enough time because they were in hurry at the end of the year or they did not concern about the survey That is the reason why we could not reach the expected respondent before deploying the survey  At times, the bank staffs were not enthusiastic to help us because they had their responsibilities at bank and it takes much time of them  Our limitation in practice and realistic experiences made us feel confused and disappointed at times, which affected the working spirit of all group members  Our unskilled presentation and persuasion abilities was one of the underlying causes for which we did not create the trust in customers and complete the target 25 PROFESSIONAL DEGREE IN BANKING AND INSURANCE PROJECT REPORT | Group 13       Our knowledge about banking operation was limited, although we had tried to update as much as possible but is really deficient and when customers asked us to explain about some bank products and services, we could not answer clearly We met some difficulties in making questionnaire about the satisfaction of customers when using debit card In fact, there were many questions and we did not know which one was suitable and beneficial for our customers’ information In some universities and colleges, the security guards did not want us to deliver the leaflets because they supposed that we were littering and our work have no valuable meaning Introducing debit card to customers had many difficulties because lots of customers we access already had debit card and they did not want to change it or have a new one Beside this, with our project, having a new debit card to use in reality takes some costs, so that most of customers did not want to Our marketing strategy was not creative because of many limitation in our ability and therefore it not effective so much The severe winter this year in Vietnam made us have some health problems so that the work efficiency of some members was not really good Project results and experiences gained: 3.1.Project results: After conducting the plan we built to implement the project missions, our group succeed in issuing 13 new Agribank Debit Cards including:   Agribank Visa Debit Card 12 Agribank “Success” Debit Card So, there is a pity that our group failed to reach the target set at the beginning is that issuing from 14 – 35 new Debit card There are several reasons lead to this situation and we will mention them in the “Experiences gained” part 3.2.Experiences gained:   26 At the end of the project, we were not able to achieve the goal might due to: o The problem in our initial consideration about ability to find new customers for bank There is a strong possibility that we were not aware of the difficulties which we may have to face during the period implement the project, so we propose and set a too high objectives with the bank o Persuading the others listen to, understand and believe in us to spend money to buy a card is actually a hard job when Vietnamese still have the trend to use cash in transactions, or even while they are much more familiar with debit card, they may being using the other brands and have no tend to give up of change it o Difficulties emerging during the process in term of organization and operation limit our working effectiveness Our consideration after conducting the project PROFESSIONAL DEGREE IN BANKING AND INSURANCE PROJECT REPORT | Group 13 o Effective marketing strategies really play an important role in the development of any products in particular and entrepreneurs in general and the effectiveness in the way companies deploy these strategies is crucial as well o There is a tough competitive in the banking industry nowadays which lead to the development of the whole system as an inevitable results with the improvement in both quality and quantity race between banks o In team working, the cooperation requires the effort of all members in the max level, each person need to be determined to all the allocated tasks and have the awareness of adjust self to adapt to the team, ego need to be put under the last objectives and mutual benefit of the group o There is a huge gap between theory and reality All the academic knowledge which we studied at university although being very massive, profound and verified for a long time, it still cannot match the reality at times Accepting this truth and trying to apply flexibly the lessons at school to real working environment are necessary to exist and succeed in any career, especially, the severely competitive banking industry 27 PROFESSIONAL DEGREE IN BANKING AND INSURANCE PROJECT REPORT | Group 13 APPENDICES APPENDIX – QUESTIONNAIRE QUESTIONNAIRE ABOUT THE USAGE OF DEBIT CARD OF VIETNAM BANK FOR AGRICULTURE AND RURAL DEVELOPMENT (AGRIBANK) – NORTH HANOI BRANCH Dear customer! Vietnam Bank for Agriculture and Rural Development – North Hanoi Branch would like to thank you for choosing to use our products and services To continuously improve the quality of debit card service to serve customers better, Vietnam Bank for Agriculture and Rural Development – North Hanoi Branch is conducting a survey to collect the data for evaluating the service we provide Your answers will be confidential and use only in combination with the responses of other people Once again, we would like to thank you for spending your time for our bank Please take a few moments of your time to answer these questions I PART 1: GENERAL QUESTIONS (From question to question 4): What is your gender? A Male B Female Which age group you belong to? A Under 18 B From 18 to 25 C From 26 to 35 D From 36 to 55 E More than 55 What is your occupation? A Businessman B Civil servant C Student D Housewife E Retirees 28 PROFESSIONAL DEGREE IN BANKING AND INSURANCE PROJECT REPORT | Group 13 F Others (please specify):… How much is your typically income per month? A < million (M) VND B to M VND C to 10 M VND D 10 to 20 M VND E 20 to 50 M VND F More than 50 M VND Are you using debit card issuing by Agribank – North Hanoi branch? A Yes (Skip to Part 3) B No (Skip to Part 2) II PART 2: FOR CUSTOMERS NOT USING DEBIT CARD ISSUING BY VIETNAM BANK FOR AGRICULTURE AND RURAL DEVELOPMENT – NORTH HANOI BRANCH (Question 6, 7): Which one(s) of these feature(s) is (are) reason(s) why you not held debit card issuing by Agribank – North Hanoi branch? (Can circle several) A Do not know/Do not care about debit card B High fees C Cumbersome registration procedures D Bank does not have many ATM machines E Do not feel assured about the safety of debit card F Bank staff’s attitude is bad G Other (please specify):… Will you hold a debit card issuing by Agribank – North Hanoi branch in the future? A Sure B Maybe C No III PART 3: FOR CUSTOMERS USING DEBIT CARD ISSUING BY VIETNAM BANK FOR AGRICULTURE AND RURAL DEVELOPMENT – NORTH HANOI BRANCH (From question to question 13): How often you use debit card issuing by Agibank – North Hanoi branch for each of these purposes ? Never Drawing money 29 Rarely Sometimes Regularly Always PROFESSIONAL DEGREE IN BANKING AND INSURANCE PROJECT REPORT | Group 13 Bill payment Transfer money Payroll Shopping at supermarket, restaurant,… Pay for health Pay for education Pay for travel Which channel(s) you know about debit card issuing by Agribank – North Hanoi branch? (Can circle several) A TV advertising B Email C Agribank’s website D Posters/Flies E Phone (calls/messages) F Social network (facebook, twitter,…) G Events H Relatives/Friends I Through the counter of Agribank J Other (please specify):… 10 How often you meet these troubles when using debit card issuing by Agribank – North Hanoi branch? Never ATM machines often run out of money Card is stuck ATM machines are often maintenance Can not pay by card Being charged with no reason Questions are not answered clearly by bank staffs 30 Rarely Sometimes Regularly Always PROFESSIONAL DEGREE IN BANKING AND INSURANCE PROJECT REPORT | Group 13 11 Looking at the following scale How would you rate your level of satisfaction when using debit card issuing by Agribank – North Hanoi branch? Please circle the number on the scale that best describes your opinion Very satisfied 10 Not satisfied Can’t say 12 How important of these features influence you when choosing debit card issuing by Agribank – North Hanoi branch? Not important Normal Important Very important Interest rate Issuance fees and annual fees Other fees Reward (promotions) and other incentives Customer services Security Bank brand Card brand Ways to contact customer (counter, Internet, phone,…) Other features 13 Will you suggest your relatives/friends to use debit card issuing by Agribank – North Hanoi branch? A Sure B Maybe C No We appreciate your time and effort to participate in our survey! 31 PROFESSIONAL DEGREE IN BANKING AND INSURANCE PROJECT REPORT | Group 13 EVALUATION TABLE No PHAN Thu Huong 10 Work quality (6) VU Phuong Minh 10 5.5 PHAM Thi Giang 9.5 3.5 NGUYEN Anh Tu 5 HOANG Thiet Luy 3.5 PHAN Hoang Duc 3.5 4.5 32 Full name Responsibility awareness (10) Contribution (4) Comments -Taking responsibility and controlling in almost all tasks -Allocating workload to each members and force them to complete these -Raising working conscious of all members -Having a high sense of responsibility, enthusiasm -Paying much attention to implement the project -Completing difficult tasks effectively -Completing task on time -High responsibility spirit -Enthusiasm, high sense of working spirit -Completing task on time -Do not submit lesson on time sometimes -Giving several useful ideas -Enthusiasm -Completing task on time Notes Leader Total 20 19.5 18 18 17 17 PROFESSIONAL DEGREE IN BANKING AND INSURANCE PROJECT REPORT | Group 13 33 PROFESSIONAL DEGREE IN BANKING AND INSURANCE PROJECT REPORT | Group 13 34 ... quality of card product are ones of the main causes lead to the problem  The results of the survey will be used by the Information analysis group of Marketing and Services of Agribank Northern... 1.1.Reason:  The fact indicate that the growth of issuing debit card of the branch has went down during the period of time from 2009 to 2012 despite the increase in the number of issued cards... the general overview of this project in term of the reasons why we chose that project title, the purpose and also the mission of the project  In Chapter II, the report described in details the