Improving Internet Banking service at Military Commercial Joint Stock Bank (MB Bank) – Phung Hung Branch Trong những năm gần đây, với sự phát triển nhanh chóng của công nghệ internet, ngân hàng điện tử đã đóng vai trò trung tâm và quan trọng trong lĩnh vực thanh toán điện tử, cung cấp dịch vụ trực tuyến nền tảng giao dịch hỗ trợ nhiều cho thương mại điện tử. Thấy được lợi ích của trực tuyến Banking, nhiều ngân hàng tại Việt Nam đẩy mạnh và phát triển giao dịch qua Internet (Internet Banking), một trong những hình thức ngân hàng điện tử phổ biến nhất, nhằm tạo ra điều kiện để khách hàng có tài khoản thực hiện giao dịch tự động nhanh chóng, an toàn và thuận tiện.
ROUEN NORMANDIE UNIVERSITY LICENCE PROFESSIONNELLE BANQUE TUTORED PROJECT REPORT Subject: Improving Internet Banking service at Military Commercial Joint Stock Bank (MB Bank) – Phung Hung Branch Tutors: Mr Vincent DORANGE Ms Nguyen Thanh Huyen Class: CN17 – NTA Group: Nguyen Dang Nhat Minh – 18/11/2002 Nguyen Hoai Nhi – 27/10/2002 Nguyen Minh Hanh – 02/03/2002 Nguyen Phuong Thao – 09/04/2002 Nguyen Phuong Thao – 17/03/2002 Hanoi, February 2023 TABLE OF CONTENT TABLE OF CONTENT LIST OF TABLES LIST OF CHARTS LIST OF ABBREVIATIONS ACKNOWLEDGEMENTS INTRODUCTION CHAPTER 1: ORGANIZATION OF THE REPORT 1.1 Reason for the report 1.2 Objectives of the report 1.3 The initial project 10 1.4 Timeframe of group's activities 10 1.5 Way of communicating the project 12 1.6 Different strategies 12 1.7 Financing of the project 13 1.8 Methodology 13 CHAPTER 2: BASIC ISSUES OF IMPROVING INTERNET BANKING SERVICES AT COMMERCIAL BANKS 14 2.1 Overview of Internet Banking services 14 2.1.1 Concept of Commercial Banking 14 2.1.2 Overview of E-Banking services 15 2.1.3 Concept of Internet Banking 15 2.1.4 Utilities of Internet Banking services 15 2.2 Basic theories on improving Internet Banking services at commercial banks 17 2.2.1 Concept of improving Internet Banking services 17 2.2.2 Content to improve Internet Banking services 17 2.2.3 Indicators reflecting the improvement of Internet Banking 17 2.2.4 Conditions for improving Internet Banking services 18 2.2.4.1 Stable and growing economic environment 18 2.2.4.2 Payment infrastructure developed 18 2.2.4.3 Banks with great financial potential invest in developing banking technology 19 2.3 The need to improve Internet Banking services 19 2.3.1 For commercial banks 20 2.3.2 For customers 20 2.3.3 For the economy 20 CHAPTER 3: THE SITUATION OF IMPROVING INTERNET BANKING SERVICES AT MB BANK - PHUNG HUNG BRANCH 3.1 Overview of MB - Phung Hung Branch 21 21 3.1.1 History of formation and development 21 3.1.2 The management structure of MB Bank - Phung Hung Branch 22 3.1.3 The bank branch’s need 23 3.2 The situation of improving Internet Banking services at MB Bank – Phung Hung Branch 23 3.2.1 Services and utilities on Internet Banking at MB Bank – Phung Hung Branch 23 3.2.3 Current situation of Internet Banking services at MB Bank - Phung Hung Branch 27 3.3 General assessment of the situation of improving Internet Banking services at MB Bank – Phung Hung Branch 27 3.3.1 Result achieved 27 3.3.2 Evaluation of the development and quality of E-banking services at Internet Banking at MB Bank – Phung Hung Branch 29 3.3.3 The successes and limitations of providing services via Internet Banking at MB Bank – Phung Hung Branch 38 3.3.4 The reasons for the above limitations 39 3.3.5 SWOT analysis: 40 CHAPTER 4: SOLUTIONS TO IMPROVE INTERNET BANKING SERVICES AT MB BANK - PHUNG HUNG BRANCH 44 4.1 Internet Banking services development orientation at MB Bank - Phung Hung Branch 44 4.1.1 Business development orientation of MB Bank – Phung Hung Branch 44 4.1.2 Internet Banking development orientation of MB Bank - Phung Hung Branch 45 4.2 Implement solutions to improve Internet Banking services at MB Bank - Phung Hung Branch 46 4.2.1 The solution to improve Internet Banking services portfolio 46 4.2.2 Brand development 48 4.2.3 New product development solutions 49 4.2.4 Improving organizational structure, network, and human resources 49 4.2.5 Promotion of Marketing 50 CHAPTER 5: ASSESSMENT 50 CONCLUSION 52 REFERENCES 54 APPENDIX 55 LIST OF TABLES Table 1: Project Schedule Table 2: Financial dimension of the project Table 3: I-banking system at MB Bank- Phung Hung Branch Table 4: Number of customers and revenue by number of products holder Table 5: SWOT Analysis LIST OF CHARTS Chart 1: Organizational Structure of MB Bank- Phung Hung branch Chart 2: The number of Internet banking accounts and the number of transactions at Phung Hung Branch Transaction Office from 2017 to 2021 Chart 3: The number of customers increased through I-banking 2022 Chart 4: The number of customers using services of MB Bank - Phung Hung Branch by age Chart 5: The number of customers using services of MB Bank - Phung Hung Branch by time joining MB Bank Chart 6: The number of customers using services of MB Bank - Phung Hung Branch by gender Chart 7: Customer's salaries is paid through Internet Banking service at MB Bank - Phung Hung Branch Chart 8: Types of methods to transactions/payments Chart 9: The number of customers using Internet Banking at MB bank through survey results Chart 10: The number of customers using Internet Banking at other banks through survey results Chart 11: The reasons why customers use I-banking services of other banks Chart 12: Sources of access to information Chart 13: Customer’s evaluation of the important criteria who not use MB Bank I-banking service Chart 14: Customer’s evaluation of the important criteria who use MB Bank’s I-banking service Chart 15: Analysis of customers choosing to use MB Bank’s I-banking services Chart 16: Problems customers face when using MB Bank’s I-banking services Chart 17: Statistics of how often customers encounter problems when using MB Bank’s I-banking services Chart 18: Analysis of the least problem that customers encounter when using MB Bank’s I-banking services Chart 19: Analysis of the most problems customers encounter when using MB Bank’s I-banking services LIST OF ABBREVIATIONS No Abbreviation Expansion MBB MB Bank I-Banking Internet Banking MBB Vietcombank SWOT Strength, Weaknesses, Opportunities, Threats IT Information technology SME Small and medium-sized enterprises ATM Automated Teller Machine PGD Pre-implantation genetic diagnosis SSL Secure Sockets Layer 10 VND Vietnam Dong 11 OTP One Time Password ACKNOWLEDGEMENTS For this report to be successful, my group has received the support and help of many units With deep and sincere affection, allow us to express our deep gratitude to all individuals and agencies who facilitated and helped in the process of studying and completing the report We would especially like to express our sincerest thanks to Mrs Nguyen Thanh Huyen - the tutor at Thuong Mai University for her interest in helping and guiding us to complete the report well in the past In addition, we would like to thank the Board of Directors, and departments of Military Commercial Joint Stock Bank (MB Bank) - Phung Hung Branch, for creating favorable conditions for us to learn the facts practice during the internship at the bank In particular, we would like to thank the bank's manager - Mr Pham Minh Tuan and the bank's sales staff for helping and providing us with practical data to successfully complete this graduation internship Furthermore, our team would like to thank Mrs Nguyen Thi Phuong Thanh - the teacher in charge who provided our group with a lot of information related to the project Besides, our team would also like to thank Mr Vincent Dorange - Teaching Assistant at RoueNormandy University provided helpful comments and suggestions that helped us better orient and prepare this final report Finally, all members of our group would like to thank the teachers and friends who have accompanied and helped us throughout the process of making this report Thanks to that, we have had more motivation, spirit, and words of encouragement to be able to complete this expected report INTRODUCTION In the past few years, with the rapid growth of internet technology, e-banking has played a central and important role in the field of electronic payment, providing an online transaction platform with much support for e-commerce Seeing the advantages of online banking, many banks in Vietnam have promoted and developed an internet transaction channel (Internet Banking), one of the most popular forms of electronic banking, to create conditions for customers with accounts to make automatic transactions quickly, safely, and conveniently The introduction of E-banking products and services into banks diversifies traditional banking products and services, opening up new opportunities and new competitiveness In particular, the appearance of Internet Banking service is an effective achievement that has broken the barriers and limitations of space and time in providing banking services Internet banking service was born as an inevitable trend, meeting the needs of payment via the Internet of Vietnamese people Grasping that trend, MB Bank - Phung Hung Branch is taking new steps in modernizing the Bank, not only perfecting traditional operations but also focusing on developing new applications for the Bank Internet Banking service, meeting the requirements of improving competitiveness, integration, and development, banking services are now closer, more user-friendly and are used daily through mobile phone familiarity with customers However, the practice of developing Internet Banking services of MB Bank Phung Hung BranchBranch also shows that there are still difficulties and limitations Finding measures to successfully deploy and develop e-banking services as well as help MB Bank affirm its position and brand is still a matter of urgency In order to this well, conducting research to discover the components of customer satisfaction with a bank's Internet banking services through customer expectations and perceptions is necessary That is why we chose the topic "Improving Internet Banking services of Military Commercial Joint Stock Bank - Phung Hung Branch" to help bank administrators have a more specific view of their service quality From there, there is a strategy to improve the best service quality to bring maximum satisfaction to customers Our report is divided into five chapters In Chapter 1, we will present the organization of the report Secondly, in order to better understand the basics of Improving Internet Banking at commercial banks, we will report in Chapter And then in Chapter 3, we researched the situation of improving Internet Banking service at MB Bank - Phung Hung Branch Finally, in the last two chapters, we have proposed appropriate methods to help banks improve their Internet Banking services and summarize the results we have achieved as well as the difficulties during the process this program CHAPTER 1: ORGANIZATION OF THE REPORT 1.1 Reason for the report The development of financial technology (Fintech) and the change in consumer tastes toward financial services have prompted the global banking system to change its business model Customers who want to experience safe and convenient financial services can transact anytime, anywhere right on a portable electronic device instead of wasting time and effort commuting This need poses a problem of service innovation for banks and especially the bank we choose, which is MB Bank MB is a Military Commercial Joint Stock Bank, regulated by the State and effectively operating as a private bank In the development process, MB Bank has provided many useful services to customers, including Internet Banking However, the bank needs to re-evaluate this service and that is the basis for planning the development of Internet Banking service in accordance with the bank and with the general development trend of the whole commercial banking system Therefore, our team looked at the current context and researched the activities done for the development of Internet banking services Then, we make suggestions, analyze and evaluate the influencing factors as well Finally, we had appropriate methods to develop and improve these services in the future for MB Bank because it is one of the important foundation activities in integrating services together 1.2 Objectives of the report ● For students: ➢ Understand the E-banking operation mechanism of MB bank – Phung Hung branch ➢ Research the current status of providing Internet Banking products and find out the remaining difficulties at MB Bank - Phung Hung branch and the main causes ➢ Analyze the factors affecting the development of Internet Banking services at MB Bank Phung Hung branch ➢ Provide feasible solutions to enhance and spread this service to all customers ● For the bank: