Báo cáoluận án: PHÁT TRIỂN DỊCH VỤ NGÂN HÀNG ĐIỆN TỬ VIỆT NAM TẠI NGÂN HÀNG NÔNG NGHIỆP VÀ PHÁT TRIỂN NÔNG THÔN AGRIBANK chi nhánh Cầu Giấy Trong bối cảnh hội nhập kinh tế quốc tế, sự phát triển của ngân hàng điện tử Dịch vụ là một xu hướng không mong muốn. Thanh toán không dùng tiền mặt đã trở thành một quảng bá rộng rãi Xu hướng thanh toán ở nhiều nước trên thế giới. Ngân hàng điện tử cung cấp nhiều lợi thế cho người dùng, ngân hàng và nền kinh tế do sự tiện lợi, nhanh chóng, chính xác, và bảo mật.
REPORT OVERVIEW
Report Reasons
E-Banking has been widely using when it first came into existence in the mid 90’s First it is in the form of ATM’s and phone transactions Recently it transformed to internet a new channel between customers and banks which benefits both and during When it came to the Covid-19 pandemic, E-banking developed more than ever.
In Vietnam, Agribank faces significant challenges in the competitive banking sector, hindering its growth potential in E-banking services This study focuses on the Cau Giay branch of Agribank to analyze the factors influencing the development of these services Our goal is to propose effective solutions that will enhance the deployment and growth of E-banking, ultimately strengthening Agribank's position and brand amidst ongoing integration efforts This research aims to contribute to the robust advancement of Vietnam's banking system through the thesis titled "Developing E-banking Services of Vietnam Bank for Agriculture and Rural Development (Agribank) – Cau Giay Branch."
Report Objectives
• To comprehend and develop a better understanding of E-banking services and their significance
• Assist the bank in developing E-banking services
• Analyze the present implementation status, accomplishments, benefits, and challenges of the E-Banking service development process at Agribank - Cau Giay Branch
• Analyze, assess, and investigate aspects influencing the growth of E-Banking services at the bank
• Offer suggestions on how to enhance and broaden the bank's E-banking offerings
• Enhancing consumer happiness and bringing in new customers
• To determine what elements affect customer contentment
Timeframe of activities
Phase/Task Start date - Deadline Responsible
A meeting of members and discuss the topic title
Contact the bank that will intern and discuss the effectiveness of the project
Write the tutored project brief
Contact the instructor and edit the title if necessary
Identify the topic title and agree with the instructor then submit the project brief to
Internship at Agribank Bank, Cau Giay branch
Find market overview information related to topic and collect information available from the company, online, newspaper
Interview customers and conduct surveys 23/10/2022-10/11/2022 All member in group
Write the Project agreement and submit 10/11/2022-15/11/2022 All member in group
Market analysis related to the topic and analysis of information from customer
Split data from customer group surveys and analyze each customer group
Discuss useful available information for the topic
Analyze available information 25/11/2022-10/12/2022 All member in group
Write the intermediary report and submit 10/12/2022-13/12/2022 All member in group
Give experiences from data analysis 15/12/2022-25/12/2022 All member in group
Provide the solutions 15/12/2022-25/12/2022 All member in group
Unify the required items in the final report 25/12/2022-01/01/2023 All member in
Complete the final report 01/01/2023-15/01/2023 All member in group
Submit the final report 15/01/2023-31/01/2023 Quang Thanh
Oral presentation 22/02/2023 All member in group
Financing of the project
Printing the survey, Mailing, document 500,000
Table 2: Financial dimension of the project
Methodology
During a visit to the Agribank Cau Giay branch in Hanoi, staff and management were interviewed to gather insights on the various E-banking services offered The discussion revealed detailed information regarding the range of services available, the number of customers utilizing these products, and general customer feedback on their experiences.
• Direct channel: in the transaction office § Directly go to the Agribank Cau Giay branch in Hanoi and asking customers to do the survey with prepared questions
In an effort to assess the usage of E-banking services in Cau Giay district, a survey was conducted involving 160 customers, with 100 responding indirectly through email and social networks such as Facebook and Instagram, and 60 providing direct feedback This survey aimed to gather objective insights from approximately 100 E-banking users, allowing for an evaluation of customer satisfaction through both primary and secondary data The findings will facilitate comparisons and help identify any issues within the service.
Surveying tool: Using link survey: Google forms
• Researching documents from the Internet (Facebook, bank’s official website, related academic essays, etc), the annual reports project, related newspapers, reports and data on Agribank’s website
• Conducting research, evaluating the data, and debating the findings and solutions with the team through meetings (either online and offline )
RESEARCH ON E-BANKING SERVICE DEVELOPMENT AT
Overview of Agribank Cau Giay Branch
• Official name: Vietnam Bank for Agriculture and Rural Development (Agribank) – Cau Giay Branch
• Short name: Agribank – Cau Giay Branch
The Agribank Branch Office located at 99 Tran Dang Ninh Street in Dich Vong Ward, Cau Giay District, Ha Noi, is a prominent transaction office of the Vietnam Bank for Agriculture and Rural Development (Agribank) Established in 2006, Agribank Cau Giay has over 15 years of experience and has become one of the leading multifunctional branches within the Agribank system.
As of June 2022, Agribank Cau Giay Branch has enhanced its business network across Cau Giay district, featuring a main branch at 99 Tran Dang Ninh Street and five strategically located transaction points This expansion ensures easy access for residents, facilitating quick and convenient banking transactions The branch is supported by a dedicated team of 128 officers and employees.
Organizational Structure of Agribank Cau Giay Branch:
Chart 1: Organizational Structure of Agribank Cau Giay Branch
The situation of developing E-banking services at Agribank Cau Giay Branch
Chart 2: Card issuance of Agribank Cau Giay branch from 2018-2021
DEPUTY MANAGER DEPUTY MANAGER DEPUTY MANAGER
PROFESSIONAL OFFICE ÒNG NGHIỆP VỤ
FOREX TRADING ROOM CAPITAL PLANNING
TRANSACTION OFFICE 5 TRANSACTION OFFICE 9 TRANSACTION OFFICE 10
In 2019, the issuance of cards reached 17,262, marking a significant increase from 1,777 cards in 2018, which equated to a remarkable growth rate of 11.47% However, in 2020, the number of cards issued rose to 18,521, reflecting a smaller increase of 1,259 cards compared to the previous year, resulting in a slower growth rate of 7.2%.
In 2021, the issuance of cards increased by 631, or 3.4%, compared to 2020, primarily consisting of domestic debit cards This rapid growth in card issuance highlights the expanding market share of Agribank Cau Giay Branch, as more customers are opting for its card products Additionally, card issuance has emerged as a vital low-cost capital mobilization channel for banks, evidenced by the rising deposit balances alongside the growing number of cards This influx of capital not only supports the bank's operations but also provides essential funding for investments in production and business.
Table 3: Size of deposit balance on card account
The significant rise in card issuance by Agribank Cau Giay Branch demonstrates its successful engagement with the dynamic card market, enhancing its reputation and prestige within Vietnam's financial landscape.
In response to the growing demand for cashless transactions amid the fast-paced lifestyle of consumers, Agribank Cau Giay Branch has made significant strides in card issuance Through ongoing research, customer engagement, and strategic investment in banking technology, the branch has successfully adapted to the evolving needs of its clients, leading to impressive outcomes in its card services.
Table 4: Card transaction status of Agribank Cau Giay Branch
Number of transaction 105.315 148.952 189.521 43.637 41,43 40.569 27,24 Transaction amount
The summary of card transactions at Agribank Cau Giay Branch highlights significant growth in both the number of transactions and their value over the years In 2021, the branch recorded a remarkable increase of 40,569 transactions, representing a 27.24% rise compared to 2020, which bolstered the card transaction business Although the growth rate in subsequent years slowed, the overall transaction amount continued to rise, indicating the effectiveness of Agribank Cau Giay Branch's card business development strategy.
The rising trend of card transactions highlights the growing preference for cashless payments among consumers, reflecting the bank's strong reputation in payment services This shift indicates that customers feel secure and satisfied with the bank's card offerings, as these transactions provide a safe and convenient payment method.
18 quick and accurate capital movement, meeting people's payment needs well
Agribank offers a mobile payment service that allows customers to conduct transactions via SMS By sending text messages in accordance with the Bank's guidelines through Agribank's Message Service Switchboard, customers can easily request various banking services directly from their mobile phones.
Product features: The service allows customers to check their account balance at
Agribank anytime, anywhere by SMS
Table 5: Situation of individual customers using SMS service of Agribank Cau Giay
I Number of customers using the service (unit: customer)
1 SMS notification of payment transaction deposit balance fluctuations
2 SMS notification of savings account balance fluctuations
II Service fee collection (unit: million VND)
6 SMS notification of payment transaction 145 168 243,5 23 15,86 76 44,94
7 SMS notification of savings account balance fluctuations
The data indicates a significant growth in the number of customers utilizing SMS services at the branch, with an increase of 2,114 customers in 2020 compared to 2019, and an additional 2,266 customers in 2021 compared to 2020, reflecting growth rates of 19.52% and 17.51%, respectively The primary use of SMS services among customers is for payment deposit balance notifications, while SMS reminders for loans rank as the second most popular service, showing a consistent upward trend Other services offered, such as Bankplus and Agribank, are also gaining traction.
M-Plus, as well as SMS with fluctuations in savings account balances also attract very few users, because these products have many utilities but the development of these products branch has not been promoted, the economy of the region is still low, the use of this service is inefficient, so few customers participate in using it Service fee collected from SMS is also quite low, but still has growth over the years Service fee collected from SMS notifying payment deposit balance in 2021 is 243.5 million VND, increasing by 76 million VND respectively with 44.94% compared to 2020 At the same time, service fees collected from SMS reminders for loans, bankplus and top-up accounts for another low percentage of the total service fee or even SMS notification fee for digital change savings account balance is at a very low level of less than one million dong because the number of customers using these services is low
Table 6: Situation of corporate customers using SMS service of Agribank Cau Giay
I Number of customers using the service (unit: customer)
1 SMS notification of payment transaction deposit balance fluctuations
II Service fee collection (unit: million VND)
1 SMS notification of payment transaction deposit balance fluctuations
The data indicates a steady increase in corporate customers, with a growth rate of 12.2% from 2019 to 2020 and 3.56% from 2020 to 2021 This trend highlights the branch's growing reputation in attracting businesses to utilize its services, particularly in payment solutions, which significantly supports business development However, the total service fees generated from these activities remain relatively low, as evidenced by the figures for 2020.
In 2021, the average amounts were VND 64.5 million and VND 69.7 million Additionally, the fees from the debt reminder SMS service are minimal, prompting the branch to devise strategies to enhance payment activities, improve customer care, and attract new clients to ensure the service is developed and utilized by a broader audience.
E-Mobile Banking is an application released by Agribank, a payment service via mobile phone message (SMS) provided by Agribank to customers Accordingly, customers send text messages via mobile phones, in the manner prescribed by the
Bank, through Agribank's Message Service Switchboard and system devices, to request the Bank to perform transactions according to customer's message With this service, customers can:
Easily pay your bills for various goods and services, including ADSL charges from FPT suppliers, insurance premiums, and Vcoin purchases for VTC game accounts Additionally, shop for a wide range of products, such as electronics, household appliances, cosmetics, and books, all in one convenient platform.
- Top up mobile phone accounts for prepaid subscribers (including telecommunications service providers: Vinaphone, Mobifone, Viettel, Sfone, EVN
- Look up current balance as well as transaction history of Agribank account
- Transfer money internally, transfer money to other accounts
- Recharge your phone in seconds
- Payment of electricity and water bills
- Statistics of recent transactions of the account
- View account balance fluctuations information
Moreover, Agribank's SMS payment transactions are free, customers only have to pay the SMS fee according to the fee schedule of the telecommunications service provider
Table 7: Situation of customers using E-Mobile Banking service
Look up current balance as well as transaction history of Agribank account
Internal money transfer, money transfer to another bank account
3 Recharge your phone in seconds 652.135 758.659 852.132 106.524 16,33 93.473 12,32
4 Pay electricity and water bills 758.164 865.235 952.362 107.071 14,12 87.127 10,07
Statistics of recent transactions of the account
6 View account balance fluctuations information 256.253 351.252 452.152 94.999 37,07 100.900 28,73 From the table, we see: The number of customers using the service increases each year, specifically:
In 2019, Agribank's service for checking current forecast numbers and transaction history reached 104,585 thousand times This number rose to 135,826 thousand times in 2020, marking an increase of 31,241 thousand times or 29.87% compared to 2016 By 2021, the usage further escalated to 185,236 thousand times, reflecting continued growth in customer engagement with Agribank's services.
49,410 thousand turns, corresponding to an increase of 36.38%
For the internal money transfer service, transferring money to other accounts
Agribank in 2019 is 358,526 thousand times, in 2020 it is 458,256 thousand times, an increase compared to 2019 is 99,730 thousand times, corresponding to an increase of
27.82%, in 2021 it is 562,354 thousand turns up compared to 2020 is 104,098
23 thousand turns, corresponding to an increase of 22.72%
For phone top-up service in seconds in 2019 is 652,135 thousand times, in 2020 is
In 2021, there were 852,132,000 occurrences, marking a significant increase of 106,524,000 compared to 2019, which represents a growth of 16.33% Additionally, in 2020, the increase was 93,473,000 occurrences from the previous year.
Results of surveying customers on the quality of E-banking services at Agribank
2.3.1 THE NUMBER OF PEOPLE USING AGRIBANK’S E-BANKING SERVICE:
In a one-week survey conducted in Cau Giay district, we reached out to 160 individuals, ultimately gathering responses from 154 participants, as not all completed the survey We ensured the confidentiality of all customer information The primary focus of the survey was to assess customer satisfaction with Agribank's E-banking services and identify challenges faced by users This analysis aims to gain insights into customer experiences and evaluate the strengths and weaknesses of Agribank's E-banking services, particularly in the Cau Giay area, to enhance service offerings Notably, the results revealed that 63.3% of respondents utilize Agribank's services, with 68.6% of those customers actively using E-banking services.
An overview of the customer base is as follows:
Male customers account for the majority of Agribank's E-banking service users
(67.9%) The majority of customers are young people aged 18-22 (60.5%), followed by customers aged 22-50 accounting for 30.3% and a minority using E-banking services elderly people over 50 years old (accounting for only 9.2%)
Many elderly individuals have yet to utilize e-banking services, while the primary users tend to be students, either current or recent graduates, who often lack a stable income or savings.
Chart 3: The amount of gender using the
Chart 4: The age range of customers who use Agribank’s services
2.3.2 FOR NON USING E-BANKING CUSTOMERS:
Chart 5: Percentage of customers who use e-banking services of others bank
After the introduction of our E-banking service, 73.5% of customers registered immediately, demonstrating a strong initial interest Additionally, 16.8% of customers expressed that they are considering using the service in the future, while 9.7% indicated they do not plan to use it at all.
73.5% of customers use other banks' services with the surveyed reasons as follows:
Chart 6: Reasons why customers who use e-banking services of others bank
A significant percentage of customers opt for E-banking at other banks rather than Agribank, with the primary reason being perceived safety and lower risk, which accounts for 26.7% of responses.
Recent customer interviews revealed significant concerns about security, stemming from scams and financial losses since 2018 Many customers reported receiving unsolicited calls from individuals impersonating companies, often referencing their deposit amounts, which heightened their anxiety Additionally, 20.17% of customers rated Agribank's customer care service poorly, with rumors suggesting that staff may lack a positive service attitude or create obstacles for clients These factors have a direct impact on customers' willingness to engage with Agribank's services.
The bank's simplicity and ease of use, along with its strong reputation and lower costs compared to Agribank, are significant factors influencing customer choice, accounting for 20.13%, 17.6%, and 14.22% respectively Additionally, only 1.18% of customers cited other reasons for choosing different banks, such as affiliations with their company, family, or school, or using another bank as a backup option.
When asked about the intention to use Agribank's E-banking service, our team received the following comments:
17,60% 1,18% simpler and easier to use safer and less risk cheaper fee better customer service bank reputation others
40 60 80 se rvi ce … Pro mo tio …
Ot he rs not important normal somewhat important important very important
Chart 7: The percentage of non- customers consider to use e-banking services of
While a significant portion of customers express a willingness to continue using the service, with "yes" responses dominating, 32.68% indicate they will not use it again This figure surpasses the 19.62% of customers who are open to reconsidering the service Such metrics highlight the critical need for banks to focus on enhancing their image and service quality.
Chart 8: Measure the importance of e-banking through customers point of view by percentage
Chart 9: The importance of factors when using e-banking at Agribank as a percentage
50,40% not important normal somewhat important important very important
A significant majority of customers, ranging from 30.4% to 50.4%, recognize the importance of e-banking Key factors influencing their decision to utilize e-banking include transaction speed, which accounts for over 60%, followed closely by service fees and customer care services, each nearing 60% Additionally, the bank's reputation plays a crucial role, with more than 50% of respondents considering it important Conversely, promotions and incentives are the least prioritized factors among customers, while other secondary factors are deemed relatively unimportant.
2.3.3 FOR CUSTOMERS USING AGRIBANK ELECTRONIC BANKING SERVICES:
Chart 10: The reason that customers know about Agribank’s E-banking service as a percentage
A significant 60.3% of Agribank's customers learn about the bank through referrals from friends and family, while only 14% and 25.7% discover it through consultants and communication staff, respectively Although the bank has successfully attracted users due to the quality of its products, its communication and promotional strategies for these offerings appear to be lacking in effectiveness and visibility.
Reasons why customers choose and trust Agribank's E-banking service and their usage time
60,30% 14% counselor the media relatives, friends
Chart 11: The reason that customers use
E-banking services at Agribank as a
Chart 12: Time period that customers have used Agribank E-banking services as a percentage
A recent survey reveals that 32.9% of customers choose Agribank's services primarily due to the bank's strong reputation Additionally, the convenience and ease of use of Agribank's E-banking service play a significant role, influencing 25.1% of users Good security measures account for 22.32% of customer preferences, while time-saving benefits are a factor for 13.98% Other reasons contribute to 5.7% of the decision-making process.
The majority of E-banking users are new customers, comprising 57.2% of the total, having utilized the service for 1 to 6 months In contrast, customers who have engaged with the service for 6 months to 2 years represent only 24.6%, while long-term users make up an even smaller segment.
The customer base utilizing E-banking primarily consists of new clients As a state-owned bank, its user-friendly interface and simplicity have not only retained existing E-banking customers but also attracted potential clients.
5,70% bank's reputation convienient easy to use saving time others
1-6 months 6 months - 2 years more than 2 years
Chart 13: The amount that the customer spends every month as a percentage
Chart 14: Frequency of using Agribank E-banking service as a percentage
A significant portion of E-banking users, primarily students and recent graduates, demonstrate monthly spending habits between 1-5 million VND, which constitutes 68.5% of users Additionally, 16.3% of customers report spending between 0-10 million VND, while the remaining 15.2% spend over 10 million VND monthly.
A significant 63.4% of customers utilize the service occasionally, while only 9% are regular users Additionally, 14% of customers rarely use the service, and 13.6% engage with it quite often.
Data indicates that customer usage of Agribank's E-banking service is infrequent, suggesting it lacks popularity and familiarity among users Most customers engage with the service only occasionally, highlighting a disconnect and indicating that improvements in service quality are essential for greater customer attachment and satisfaction.
9,00% seldom sometimes quite often regularly
Chart 15: Level of satisfaction when using E-banking’s facilities at Agribank
SWOT ANALYSIS
- Agribank is one of the reputable state-owned banks, located in the Big 4 banks in Vietnam
- Marketing and communication activities are still limited
- Satisfying a certain level but not
Service charge Promotions and offers Transaction speed Customer care Bank position Not important Normal
Somewhat Important Important Very important
- Agribank is always trusted and recommended by customers to their relatives and friends
-The application, interface is easy to see and easy to use
- The majority of users are satisfied with the service quality There is a high consensus with criteria such as bank reputation, equipment, information safety and security completely satisfying customers
- The convenience and ease of use of the interface and the application have not been appreciated
- According to the opinion of the majority of customers, the staff is still lacking in skills and expertise
- The product does not satisfy the needs of the customer
- Slow transaction speed affects customer experience
- Criteria to meet customer needs
- Complicated procedures, not creating conditions for customers
- There are not many offers and promotions for customers
- The application is slow, frequent errors and long maintenance
- E-banking service is always appreciated
Information technology is always on the rise so that Agribank can apply
Vietnam boasts a youthful demographic and is actively embracing the industrial revolution, supported by policies promoting non-cash payments This environment presents significant opportunities for the growth of e-banking in the country.
- The level of competition of other banks is high due to the advent of Fintech companies, payment intermediaries that compete directly with many similar functions to banks
- Advanced technology coupled with an increase in cybercrime threatens security barriers, putting pressure on banks to quickly launch new products to meet
- The IT system is still unstable The transmission line is not stable, the network congestion, the loss of connection still occurs, affecting the continuity and stability of the service.
LIMITATIONS AND SOLUTIONS
The successes and limitations of Agribank's E-banking services
Recent customer surveys on e-banking products at Agribank Cau Giay Branch, combined with an analysis of service quality, reveal key insights into the performance and challenges of E-banking services The findings highlight several constraints affecting service delivery and identify underlying causes impacting customer satisfaction and overall service effectiveness at the branch.
Agribank Cau Giay Branch has shifted from a passive to an active working approach, fostering a proactive mindset among employees This transformation involves direct guidance and task implementation, reducing reliance on superiors Employees are encouraged to understand and assess the branch's product and service offerings, enabling the development and modernization of traditional business practices to thrive in a competitive market.
Agribank Cau Giay Branch has actively developed and implemented various plans to enhance its e-banking products and services, demonstrating the management's commitment to the branch's growth By assigning specific product and service development targets to each staff member, the branch fosters innovation and ensures the continuous updating of modern services and utilities.
The Agribank Cau Giay Branch has seen a significant increase in e-banking customers, with 4,891 clients now enrolled in various services, particularly in the E-mobile Banking segment, as of 2020.
Fourth, Agribank Cau Giay Branch has focused resources to upgrade infrastructure on a
The modernization of banking technology is driven by 40 key projects and investment portfolios, resulting in significant benefits for both customers and banks The rapid development of e-banking services, fueled by enhanced internet access, has accelerated transaction speeds and improved efficiency Customers now save time and travel expenses, while effectively managing their cash flow and balancing their finances Additionally, functional management agencies can monitor and control illegal transactions more effectively Although the costs of developing e-banking are high, the efficiency gains are substantial.
Agribank Cau Giay Branch has successfully targeted the young generation by enhancing its products and services, integrating multiple features into a single offering, which has significantly boosted its popularity This extensive customer base lays a strong foundation for future product development The introduction of e-banking services has greatly improved customer convenience by enabling electronic transactions through the internet and telecommunications, thereby minimizing travel, reducing paperwork, and lowering management costs With a single deployment department, the branch effectively caters to customers using ATMs, credit cards, mobile phones, or the internet, gradually shifting away from traditional transaction methods This timely evolution has not only transformed the perceptions and actions of the branch's staff but also influenced the attitudes of numerous customers, setting a solid groundwork for future market integration and expansion.
The Agribank Cau Giay branch leverages the Internet as a vital distribution channel for e-banking services, enhancing its operational network and expanding its global reach Additionally, the establishment of an efficient ATM system caters to customer needs for cash withdrawals and transactions, reflecting the branch's commitment to continuously improving services for an optimal customer experience.
In addition to the achieved results, the E-banking service business of Agribank Cau Giay Branch has some limitations as follows:
E-banking services often face issues such as system malfunctions, congested transmission lines, network errors, and overloads, which can lead to unexpected problems like error messages and failed transactions These technical difficulties negatively impact user psychology and contribute to customer dissatisfaction As a result, customers are increasingly concerned about the safety and accuracy of their transactions Furthermore, the rise in sophisticated and unpredictable cybercrimes in the e-banking sector poses significant challenges for both customers and banks.
Agribank Cau Giay Branch lacks a clearly defined long-term strategy for product and service research and development, which is essential for creating specific plans and roadmaps aligned with Agribank's overall development objectives.
The e-banking services at Agribank Cau Giay Branch exhibit significant limitations, characterized by poor quality and inefficient processes that hinder client convenience The response to customer complaints related to technological issues is slow and rigid, reflecting a lack of responsibility and proactive engagement from the staff Additionally, there are notable deficiencies in staff qualifications, particularly in technology access, which poses a challenge in the current competitive market Addressing these shortcomings is crucial for enhancing the branch's performance and improving its market position.
There has been insufficient focus in advertising and marketing efforts aimed at promoting new goods and services, with a predominant emphasis on capital mobilization products and a limited range of traditional services.
Solution
3.2.1 Agribank Cau Giay Branch's strategy and direction for creating e-banking services:
Vietnamese banks are actively adopting new technologies and innovative services to enhance their competitiveness and integrate rapidly into the global banking landscape They aim to provide top-tier services, evolving from basic informational websites (Brochure-ware Stage) to platforms that facilitate online banking transactions (E-commerce Phase) Furthermore, they are enhancing communication with partners (E-business Phase) and striving to establish a comprehensive electronic banking model (E-bank or E-enterprise), leveraging global networks to tailor financial services to individual customer needs.
E-banking and mobile banking service projects will be widely implemented in 2020 at the Agribank Cau Giay Branch The branch encourages the growth of current advantages in foreign and remittance services as well as domestic payment services Along with that, the Branch also created and expanded debit card services as well as student link cards, strengthening connections with local institutions and colleges The branch is growing, developing, and constructing a vast network of ATMs and POSs throughout Cau Giay district and a number of districts nearby in order to draw clients and offer convenience in use; deliver satisfaction to customers when they use the service
As the transaction system becomes more globalized, E-banking will gradually take the place of all necessary traditional banking-style transactions
- Contracting procedures for the Agribank system's new service development targets
- A bonus system for the branch's sales staff
- Creating motivational mechanisms for the rollout of new goods and services
- Emulation programs for branch growth and development
- A branch-specific business bonus structure
Because it is a state-owned bank, Agribank is one of the institutions that many people
To maintain client trust and enhance service quality, banks must actively defend their reputation and expand business operations to drive revenue growth The rise of E-banking services presents both opportunities and challenges, necessitating robust telecommunications and information technology systems To safeguard against fraud and ensure the safety of both clients and the bank, it is crucial to maintain strict confidentiality of customer information This requires significant investment in infrastructure, security software, and a dedicated team of banking security experts Regular monitoring procedures should be implemented to effectively identify and mitigate potential threats or breaches within the bank's information systems.
To ensure the safety of banking technology and data systems, banks must continuously upgrade and maintain their security control systems to mitigate risks from both internal and external sources This involves establishing appropriate decentralization, implementing strict data access controls, and enforcing robust infrastructure security measures to maintain user permissions Key components of an effective e-banking security process include assigning specific responsibilities for overseeing security policy maintenance, closely monitoring data access to prevent unauthorized entry, and regularly evaluating security solutions and processes at all stages.
3.2.3.Increasing the quantity, improving the quality of human resources:
To effectively develop e-banking services, it is crucial to invest in human resources by training staff in both banking and information technology Keeping banking personnel updated with the latest technologies and advancements ensures the swift application of innovations, enhancing the bank's competitiveness in the market.
People are the key factor, playing a decisive role in the development of modern banking
E-banking services encompass a range of 44 high-tech offerings that necessitate skilled personnel To effectively perform these operations, staff must possess advanced professional expertise, technological proficiency, and extensive practical experience Comprehensive training focused on high professionalism is essential for these officers to excel in their roles.
To enhance the e-banking department, it is essential to recruit staff who possess technical proficiency, a comprehensive understanding of the financial landscape, and strong business relationships These individuals should be adaptable to changes within the banking system, exhibiting energy, resourcefulness, and a balanced approach to decision-making Additionally, improving the quality of human resources requires a focus on training and specialized development in business and marketing, aligning with market demands for instant services to maintain competitiveness.
Continuous and timely training and re-training for staff are essential, allowing participation in both centralized and on-site courses Agribank should facilitate access to external training programs in addition to its internal offerings Organizing workshops to explore the e-banking service infrastructure of domestic and foreign banks will provide valuable opportunities for staff to engage with new technologies and advancements This initiative will enable Agribank employees to swiftly adopt and enhance their e-banking services to align with the evolving landscape in our country.
+ Add enough staff of individual customer relations officers to perform service development on the basis of rebuilding the description table, with additional specific tasks
+ Each branch has at least 1 individual customer relations officer and 1 individual customer relationship manager who is highly trained and an expert in the field of
3.2.4 Strengthen the promotion of products and services of E-banking:
Develop Customer Support service to support and promptly respond to customers' problems, through this channel to sell and enhance the effectiveness of Agribank's E-banking services
Develop distribution and sales channels to introduce products to customers in order to improve communication skills in the process of providing services
Organize promotional programs in conjunction with store brands and trading platforms such as Shopee, Lazada, on holidays to encourage customers to use products
To successfully implement a new e-banking service for individual customers, it is essential to engage Agribank staff by enlisting their support and encouraging them to actively use the bank's products Setting clear targets and criteria for staff participation can foster a sense of ownership and commitment, ultimately driving the adoption of the new service among customers.
3.2.5 Improve the effectiveness of risk management:
To enhance risk management policies in business operations and effectively prevent, detect, and address emerging risks, it is essential to implement several key strategies.
+ Completing the structure of documents and regimes related to e-banking services
+ Focus on reviewing regulatory documents and business processes that Agribank has issued Research and develop a risk mechanism in e-banking services, soon issue a risk mechanism in card operations
+ Strengthen inspection, supervision and post-inspection
+ Develop customer selection policy to ensure the application of suitable services for each customer
+ Develop customer care policies during service use to support fraud and risk prevention
To enhance safety and security awareness during customer interactions and payment processes, Agribank is implementing comprehensive training across all branches This initiative focuses on a centralized and unified approach to effectively address customer complaints and ensure consistent service quality throughout the Agribank network.
+ Perfecting the information technology system to improve security, providing audit trail reports, tools to support control tracking
+ Closely coordinate with relevant agencies and partners in preventing and handling risks in e-banking activities
3.2.6 Completing and expanding research to expand existing e-banking products and services:
In order to match the needs of customers and the development of the world economy, it is necessary to continue researching, developing and diversifying products of
E-banking Focus on developing e-banking products and services for agricultural, rural and urban areas Improve the quality of existing services: monitor, evaluate and compare product utilities, regularly review and evaluate services, the process of implementing E-banking products and services to customers through distribution channels to promptly take measures to improve and improve the quality of products and services
To enhance service quality, it is essential to conduct surveys that assess product utility and regularly review service implementation processes for timely improvements Collaborating with other businesses to create safe, customer-centric products can attract more users For instance, piloting bill payment and interbank transfer functions at ATMs will pave the way for broader deployment Additionally, developing co-branded card products will facilitate cross-selling opportunities Expanding services related to payment deposit products, accounting, collection services, and cash flow management is crucial Furthermore, enhancing convenient services through the Mobile Banking channel will significantly improve user experience.
To meet customer needs, we offer remittance payment services through SMS with Western Union, an e-wallet service linking Agribank and Payoo, and the development of Bankplus in collaboration with Viettel We are also expanding card connectivity for students and enhancing our fee collection services via card Additionally, we are focused on developing insurance products tailored for small and medium enterprises (SMEs) through online platforms.
SELF-ASSESSMENT
Achievements after the research process
This group internship provides students with the opportunity to apply their knowledge in a professional environment, enhancing their work experience and workplace behavior Our team gathered valuable insights and made recommendations to Agribank - Cau Giay Branch during our study phase This research helped the bank collect vital information and statistics on consumer satisfaction and perceptions of E-banking services Consequently, the bank can implement adjustments and improvements in E-banking, ultimately enhancing customer experiences and service quality.
Difficulties encountered
Our visit to Agribank - Cau Giay Branch provided valuable insights into E-Banking services and offered effective strategies for enhancing these offerings Despite facing challenges during the project implementation, the support from our tutor and the bank manager enabled us to successfully complete our objectives.
The Covid-19 pandemic hindered our ability to visit the bank in person, complicating data collection efforts Although finding reliable information online proved challenging, we eventually located an accurate source Scheduling team meetings was also difficult, impacting the project's implementation Despite these obstacles, we successfully completed the project on time, requiring significant focus amidst our final year exam preparations This dual commitment slowed our progress, necessitating a change in the reporting deadline and efforts to secure enough customers for completion.
48 survey It took us a long time to do the analysis after surveying our customers, but these efforts will help us gain more experience for our upcoming individual internship
E-banking is a revolution in the field of finance and banking, it not only opens up development opportunities for the banking and finance industry but also for other industries such as information technology, tourism, products and services The development of E-banking services to increase the important rate of revenue from services is one of the measures to solve the existence and sustainable development of the bank E-banking professional development at Agribank Cau Giay branch is one of the imperatives for economic development in the area, and at the same time an inevitable trend in the development of a civilized and modern society
The research aims to analyze the development of e-banking services at the Agribank Cau Giay branch in Vietnam It focuses on evaluating the current state of these services, identifying achievements, and highlighting shortcomings in their development process.
Despite our team's dedicated efforts to meet established goals, the recent deployment of E-banking services at branches has limited application and highlighted our capabilities As a result, the project has encountered shortcomings We eagerly await feedback from the judges to enhance the project's effectiveness.
• Law on State Bank of Vietnam (2010)
• Annual report of Agribank - Cau Giay Branch in 2018, 2019, 2020,2021
• J.A Prasansha Kumari (2016) A Study of Online Banking Usage among University Academics
• Source 1: Digital banking boom in Vietnam during coronavirus pandemic – published on July 4th 2021 - https://vietnamnet.vn/en/digital-banking-boom-in-vietnam-during-coronavirus -pandemic-752721.html
Access to banking services is increasingly becoming available in the developing world, reflecting significant progress in financial inclusion This expansion allows more individuals and businesses to participate in the economy, fostering growth and stability Enhanced access to banking not only empowers communities but also contributes to overall economic development, bridging the gap between different socio-economic groups.
Vietnam's digital banking landscape is poised for significant transformation in the post-pandemic era, driven by key trends such as increased adoption of mobile banking, the rise of fintech partnerships, and a focus on enhancing customer experience through personalized services As consumers increasingly favor digital solutions, banks are leveraging advanced technologies like artificial intelligence and blockchain to streamline operations and improve security Additionally, regulatory support is fostering innovation, enabling traditional banks to compete effectively with emerging fintech companies Overall, the future of Vietnam's digital banking sector will be characterized by greater accessibility, efficiency, and customer-centric offerings.
SURVEY ON THE NUMBER OF E-BANKING SERVICES USERS AT
We are a group of college students that are banking and finance majors Our team is doing a project research on e-banking in order to determine the user base of
Agribank's e-banking service Your assistance is absolutely necessary for this survey
Please spend a few minutes answering the questions on the following survey We promise to maintain the privacy of your information We sincerely thank you!
How old are you? 18-22 years old ¨ 22-50 years old ¨ over 50 years old ¨
1 Do you use Agribank’s services?
2 How long have you used Agribank’s services?
Less than 1 year ¨ From 1-3 years ¨ From 3-5 years ¨
3 In what form do you mainly make transactions?
4 Do you use E-Agribank’s services?
If YES, please answer the following questions:
(If DO NOT use Agribank’s service, please move on to the non-users questions later.) a) Questions for customers who USE Agribank’s E-banking :
Question 1 Why did you decide to use Agribank’s E-banking service:
Easy to use and simple ¨ Saving time ¨ As a result of the fame of Agribank ¨
Question 2 Please give the average monthly amount you spend:
Question 3 How were you made aware of Agribank's online banking system?
Consulting Bank¨ Media¨ Family, relatives use¨
Question 4 How long have you been using the service?
Question 5 How often do you use the service?
Question 6: These questions are used to measure the satifcations of customers using
E-banking services of Agribank due to 4 main factors
(1-Unsatisfied 2- Not very satisfied 3-Slighted satisfied 4-Satisfied 5-Very satisfied )
Easy-to-use and easy-to-see application interface
Criteria for quality customer service
Satisfactory and timely support for inquiries
List of products to meer customer needs
Criteria to meet customer needs
Reasonable withdrawal and deposit limits
Trust that your personal information is safe and secure
Question 7: Difficulties while using the E-banking services:
The user experience with financial technology can be frustrating due to several issues, including a challenging interface and ATMs frequently running out of cash Additionally, POS machines often encounter transaction errors, while mobile apps tend to drain device batteries quickly Users also face regular application errors and maintenance requirements, alongside ATM card reading issues The multitude of different expenses can be overwhelming, compounded by inconvenient login processes that hinder accessibility.
Questions for foreigners customers using Agribank’s E-baking:
Difficult service registration and login ¨ Cards cannot be used on others gadgets ¨ Application often crashes ¨ Application is slow ¨
52 b) Questions for customers who DO NOT USE Agribank’s E-baking:
Question 1 Do you utilize another bank's online banking service?
Question 2 Why would you decide to use the online banking services of a different bank?
Simpler and easier to use ¨ Safer and less risk ¨ Cheaper fee ¨
Better customer service ¨ Bank reputation ¨ Others ¨ Question 3 Do you want to use Agribank’s E-banking service?
Yes ¨ Can be used in the future ¨ Never ¨ c) Question for both of them
(1-Very unimportant 2- Not important 3-Normal
Question 1 How do you rate the importance of E-banking?
Question 2 When deciding whether to use E-banking services, how important do you think the following factors are in order of importance?