Techcombank and Backbase Win ‘Best Digital CX Partner – SME Bank’ at the Digital CX Awards 2024

Techcombank achieves 246% growth in active digital business banking users leveraging on Backbase Engagement Banking Platform

SINGAPORE – Media OutReach Newswire – 26 April 2024 – Backbase, the global leader in Engagement Banking, and Techcombank, Vietnam’s fifth largest private bank in asset size in Vietnam, have been named joint winners of the Best Digital CX Partner – SME Bank award by The Digital Banker, for the implementation of the Backbase Engagement Banking Platform. Techcombank won the Best Digital CX Partner awards for retail banking with Backbase last year and SME Banking this year, highlighting the extensibility of the Engagement Banking Platform in creating a unified banking experience across both lines of business for Techcombank’s customers.

Techcombank’s mission statement, “Purposefully digital and meaningfully human,” underscores their commitment to help customers make better decisions easier and improve their quality of life via digitalization. Techcombank believes that business owners are also consumers at heart and has differentiated their business banking app to offer the same familiarity and simplicity as their retail banking app. To achieve that, Techcombank leveraged on the Backbase Engagement Banking Platform to recycle, re-use and re-purpose digital retail journeys, UI/UX and features they have innovated on their highly rated retail banking app to successfully launch business banking platform in 6 months. Today Techcombank Business app has a near-perfect rating of 4.9 out of 5 on the App Store and a perfect rating of 5 out of 5 on Google Play.

The Digital Banker’s panel of judges noted, “Backbase’s Engagement Banking Platform is truly empowering banks in accelerating their digital transformation and ensuring enhancement in client experience across a diverse set of digital journeys for different customer segments. Notably, this single unified platform is open and frictionless, with ready-to-go apps and its implementation at Techcombank has significantly elevated digital business banking growth and adoption for the Bank.”

The Engagement Banking Platform provides Techcombank with seamless orchestration in digital customer engagement across retail and business banking lines of business. The platform serves as a robust engine room with industrialized, composable capabilities, providing the bank with the flexibility to quickly create tailored, differentiating experiences and innovate on their own terms across all channels. Since deploying the platform in 2022, the bank saw a 246% surge in business banking users. Today, the account opening process on the business banking website has been streamlined to 30 minutes.

“Our priority was to select a platform that wouldn’t limit our creativity. By leveraging the Backbase Engagement Banking Platform, we rapidly rolled out our business banking services within six months, utilizing digital retail banking journeys we had already created. This allowed us to build humanized and highly personalized user interfaces and experiences, offering business clients the simplicity and familiarity typically seen in retail banking,” said Henry Lam, Head of Corporate Digital Banking, Techcombank.

Henry added, “The platform’s extensibility is immensely powerful, enabling us to quickly develop and deploy flexible term deposit products, local bank guarantees, and short term loan tailored to various needs. With the Engagement Banking Platform, it enables us to launch new business banking features in just over a week, driving rapid adoption and acceleration in the market. Our customer base is growing rapidly with an increase of 42,000 new digital business banking users in 2023, bringing our total to 97,000. The ability to adopt and build on the platform is a key differentiator for us and has transformed our business banking arm into a key value-driving pillar of Techcombank’s portfolio.”

Backbase’s clear documentation, robust version control, and ongoing Application Development Support (ADS) have enabled Techcombank’s accelerated build. The bank developed approximately 40 new features and journeys specifically for business banking, including the introduction of Bank Guarantee and Overdraft Online services in 2023. The platform also facilitates seamless, omnichannel access, allowing businesses to manage their finances effortlessly from any location as well as integrated financial management tools and sophisticated data analytics for business owners to use essential insights for strategic decision-making.

“Techcombank exemplifies the adopt and build capability of the Backbase Engagement Banking Platform. They have modernized their lines of business in increasingly rapid succession and agility to realize its overarching banking vision and mission,” said Riddhi Dutta, Regional Vice President, Asia, Backbase. “We are immensely proud of the bank’s success and the standards it has set for the industry.”

Techcombank would be looking to expand its digital services from SME banking to encompass micro, small, and medium enterprises (MSME) and corporate banking. This expansion is part of Techcombank’s broader ambition to provide intuitive digital experiences across all business banking sectors, contributing to its continued success and award-winning performances in digital banking.
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Backbase is on a mission to re-archtect banking around the customer.

Backbase created the Backbase Engagement Banking Platform – a unified platform with the customer at the center, empowering banks to accelerate their digital transformation. From customer onboarding to servicing, loyalty, and loan origination, our single platform — open and frictionless, with ready-to-go apps — improves every aspect of the customer experience. Built from the ground up with the customer at the heart, our Engagement Banking Platform easily plugs into existing core banking systems and comes pre-integrated with the latest fintechs so financial institutions can innovate at scale.

Industry analysts Gartner, Omdia, and IDC continuously recognize Backbase’s category leadership position. Over 120 financial institutions around the world have embraced the Backbase Engagement Banking Platform. In APAC, the customers we serve include ABBANK, BDO Unibank, Bank of the Philippine Islands, China Bank, EastWest Bank, HDFC Bank, JudoBank, OCB, Techcombank, and TPBank.

Backbase is a privately funded fintech company, founded in 2003 in Amsterdam (Global HQ), with regional offices in Singapore (APAC HQ), Atlanta (Americas HQ), and operations in Australia, India, Indonesia, Malaysia, Philippines, Thailand, Vietnam, Latin America, and the UK.


Vietnam Technological and Commercial Joint Stock Bank (Techcombank) is one of the largest joint stock banks in Vietnam, and a leading bank in Asia, with a vision to Change Banking, Change Lives. The Bank pursues a proven customer-centric strategy in providing a broad range of retail and corporate banking solutions and services to help financially empower its customers. Techcombank has 13.4 million retail and corporate customers, which it serves through a market-leading digital banking platform and mobile app, and an extensive network of transaction service outlets at locations across Vietnam. The Bank’s ecosystem approach, co-created through partnerships in multiple key economic sectors, adds further scale and differentiation in one of the fastest growing markets in the world. Techcombank is rated A+ by FiinRatings, Ba3 by Moody’s and BB- by S&P, which is the highest among Vietnam joint stock commercial banks.

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