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Using technology to digitize services has become a key factor in helping the banking industry understand and meet the needs of Generation Z—the demographic projected to account for 73% of online shoppers with substantial spending power.
According to a 2023 report by Meta and Bain & Company on digital consumption trends in Southeast Asia, the study found that Generation Z comprises 73% of online buyers on digital platforms. Compared to Generation X, Generation Z displays early interest and understanding of banking services and is ready to embrace innovation, preferring technology and seeking convenient, easy-to-use experiences.
This shift has led banks to invest heavily in modern technology in recent years, developing products and services tailored for digital channels to align with the tastes and preferences of younger customers. This transformation is reshaping the financial ecosystem and improving the efficiency and appeal of banks’ operations.
The eKYC (electronic customer identification) solution is one example of technology application that streamlines user verification. According to the State Bank of Vietnam, as of June 2023, nearly 27 million accounts were opened using the eKYC method, with 10.8 million active cards also using the same approach. Additionally, the implementation of multi-channel customer service platforms, such as chatbots and voicebots, has automated processes, offering 24/7 support for customers, no matter the time or location.
In Vietnam, Sacombank is one of the leading banks pioneering digital transformation to meet customer needs. For Generation Z, the bank has made an impressive mark with its “Keypad-less Call Center,” which employs FPT.AI’s AI technology, offering a fresh, simple, and convenient customer experience.
In collaboration with FPT Smart Cloud, Sacombank implemented the Smart IVR solution, built on FPT.AI’s comprehensive AI platform. The bank’s 1800 5858 88 customer service hotline can automatically route calls based on service requirements, automating tasks associated with customer support. When a customer calls the hotline, Sacombank’s virtual assistant can recognize and understand the customer’s needs through voice input, then automatically route the call to the appropriate service branch without the need for customers to press any keys, as required by traditional IVR systems.
Hoang Yen, a student at the National Economics University in Hanoi, commented: “When I urgently called Sacombank’s hotline, I simply stated my needs concisely, and the system immediately routed me to a customer support representative, without having to listen to instructions and select keys like before. I found it surprising and interesting; everything was resolved so easily.”
Similarly, 26-year-old Le Duc An from Hanoi shared: “I once called Sacombank’s hotline to block my card. I went through the verification process and received professional, fast support. I later realized that the person I had spoken with was the AI virtual assistant.”
Sacombank’s digital transformation efforts do not stop there. The bank has also integrated AI into chatbots operating on its website, www.sacombank.com.vn, and its fan page. These chatbots run 24/7, automatically handling a wide range of customer needs, and provide friendly, natural interactions with customers.
The rise of technology has led to significant reforms in the banking industry, enriching the experience of younger customers. Alongside this digital shift, FPT, a leading technology group in Vietnam, and its member company, FPT Smart Cloud, play a crucial role. FPT Smart Cloud offers AI platforms and cloud computing services globally, helping enhance operations, promote innovation, and build lasting value to win customer loyalty across generations.
Hai Van.