Banking Digitization Guarantees Continued Financial Services

The Coronavirus outbreak has accelerated various industrial transformations with the requirement of reducing face-to-face service. For financial services, the pandemic has magnified the advantages of self-service business models especially remote unmanned branches. During these critical times, GRGBanking has played an important role in optimizing banking automation & digitization in Singapore & Vietnam, the digital self-service banking channels effectively ensure the customers satisfaction while limit the virus spreading.


In Singapore, as part of a worldwide effort to minimize social interaction, DBS, Maybank, HSBC, Citi and Standard Chartered have announced plans to temporarily close services in select branches. Under the special circumstances, GRGBanking’s VTM has evolved to act as a branch teller that provides 24/7 service, which effectively guarantees efficiency and enhances user experience while preventing the spread of COVID-19.


"We are mindful that banking is an essential service and the vast majority of DBS’s extensive network, including more than 2,000 cash disbursement touch points, remains fully available. At the same time, we strongly encourage our customers to go digital with our comprehensive suite of online and mobile banking services during this period, so we can focus on serving those with urgent needs at branches and call centers," a DBS spokesperson said in Business Times (quote the website) . 


The VTM diverts teller transactions from a bank branch to a self-service solution. Even though DBS will close nearly half (29/57) of its branches in Singapore throughout this crisis, the VTMs located in off-site locations will still adequately meet most customers' needs. Equipped with remote teller service support, the VTM supports transactions like token issuance, debit card replacement, updating of particulars, balance inquiries, check book requests, and much more. The bank staff can still interact with its customers remotely to provide the human touch while curbing the spread of the virus.


In Vietnam, GRGBanking maintains local financial services. With the VTM, TPBank’s LiveBank can fully handle transactions similar to that of traditional banks without the need for direct human to human contact. It is fully automated with many modern technologies such as biometrics, OCR, QR code applications, and more. In addition, LiveBank is available 24/7, assisting customers at any time of the day whenever they need to conduct banking transactions.


TPBank LiveBank enhanced sterilization of LiveBank to ensure safety


Ms Linh, a store manager in Hanoi, said: "Almost every day I need to go to the bank. However, I have to meet a lot of people as well as wait for the transaction in the bank branches during the epidemic, which made me feel a bit uncomfortable. Then, I learned about TPBank's LiveBank and I chose to do transactions with LiveBank instead of going to the counter. " The growth rate of TPBank’s LiveBank network is about 4 times faster than that of traditional branch. Within 3 years, TPBank has developed over 200 LiveBank national wide, and expected to reach 300 by the end of 2020. With the increasing coverage, customers can easily access TPBank's services anytime in Vietnam.


Ranked as the No.1 provider for branch transformation solutions in Asia, GRGBanking has already helped places like Hongkong, Singapore, Vietnam, Bangladesh and Thailand innovate their banking channels for their customers. The company also enhances business models for various other industries to include telecommunications, online consultation, remote medical services, online education, transportation, smart city and security, and much more.


Sources from Business Times & TPBank