Case Studies : VietinBank
Vietnam Joint Stock Commercial Bank for Industry and Trade - VietinBank (formerly Industrial and Commercial Bank of Vietnam - Incombank) was established on March 26, 1988, upon the separation from the State Bank of Vietnam under Decree No. 53/HDBT of the Council of Ministers.
Privatization and Listing
Following the successful IPO on December 25, 2008 at Ho Chi Minh Stock Exchange, VietinBank's General Shareholders Meeting was held on June 4, 2009. On July 16, 2009 VietinBank was listed on Ho Chi Minh Stock Exchange (HOSE) as CTG. On that transaction day, 121.2 million shares of the Bank became the focus of market attention and were one of the two stocks of highest liquidity. On October 11, 2009, VietinBank was ranked the second in the Top 20 leading listed companies in Vietnam.
Scope of Business
VietinBank provides wholesale and retail banking services both domestically and internationally, lending and investment, trade finance, guarantees and counter-guarantees, foreign exchange, deposits, payment, money transfer, domestic and international credit card issuance and payment, travelers' checks, securities trading, insurance and leasing and other banking and financial services.
To enhance competitiveness, expand market share, to meet market trends and the Bank's future development needs and provide the best financial services for customers through high tech distribution channels, VietinBank wanted to establish a modern, professional, effective and satisfactory Customer Service Center (Contact Center).
VietinBank required the new Contact Center to meet both short term and long term needs while saving costs. To this effect, a business plan for the Contact Center, a long term development schedule, selection of technology and establishing an effective operational model became imperative.
Consequently, this task required experts / consultants with comprehensive knowledge of Contact Centers and the industry, expertise in product trends and the banking domain.?Staying in line with their development orientation and their service strategy, VietinBank selected Servion Global Solutions (through an open tender and evaluation process) to:
1. Design their Contact Management Strategy
2. Review VietinBank's Banking & Customer Service processes, technology & MIS to enable the Contact Center with right processes and technology for the agreed design and future needs
3. Design an RFP on user requirements with functional and technical specifications for the Contact Centre
4. Assist VietinBank in evaluating RFP responses from vendors in collaboration with key
5. Consult on vendor supervision on implementation of Contact Center technology
VietinBank consulted Servion to design their Contact Management Strategy. With the use of its proprietary consulting tool CIM B, Servion studied the brand of the bank, its products and services, business processes and customer profile. The design of Contact Management was based on these considerations. Servion ensured that the design reflected the brand strategy and its related customer service objectives. The core design was followed through with elaborate process documents to enable operationalization of the strategy and design.
An RFP was designed based on the Contact Centre design and an evaluation process was drawn. This RFP has been used to invite bids from potential vendors. In continuation, a detailed plan was designed to consult on vendor finalization and supervision for implementation of the Contact Centre. On-going management of this plan continues to be part of the overall engagement.
Today's Tip of the Day - Recognition
Vietnam Joint Stock Commercial Bank for Industry and Trade – VietinBank (formerly Industrial and Commercial Bank of Vietnam – Incombank) was established on March 26, 1988, upon the separation from the State Bank of Vietnam under Decree No. 53/HDBT of the Council of Ministers. VietinBank provides wholesale and retail banking services both domestically and internationally, lending and investment, trade finance, guarantees and counter-guarantees, foreign exchange, deposits, payment, money transfer, domestic and international credit card issuance and payment, travellers’ checks, securities trading
Servion Global Solutions (Servion), a specialist in the Customer Interaction Management (CIM) domain, is a fast growing company with a global clientele of more than 400 customers in 41 countries and with over 1000 installations. Operating in a market that is estimated to grow to $2.6 billion by 2008 (Source: Datamonitor), Servion takes a consulting led approach to optimize customer interaction for its clients.
Published: Thursday, January 3, 2013