Banks develop more services for mobile market

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Banks develop more services for mobile market

  1. 1. Banks develop more services for mobile market September, 22 2012 09:35:47HCM CITY — Banks in Viet Nam are vying with each other to diversify their internet bankingservices in order to take advantage of peoples increasing reliance on mobile electronic devices.According to data collected in a survey on internet usage in Viet Nam made in 2011 by CimigoViet Nam, which specialises in marketing and brand research, 60 per cent of the 5,800 peoplepolled used mobile devices such as mobile phones and tablet PCs to connect to the Internet.The survey says the number of people using PCs for accessing the internet dropped from 84 percent in 2010 to 81 per cent in 2011 while the percentage of people using mobile electronicdevices more than doubled from 27 per cent in 2010 to 60 per cent in 2011.The rapid increase in the number of people using mobile electronic devices has created bigopportunities for services related to advertising, marketing and especially e-banking to developstrongly in the domestic market.Cimigo Viet Nams study also points out that mobile transactions are far more convenient thanthe alternative, as it takes only one or two minutes for a mobile phone user to complete a banktransaction.So many commercial banks are seeking to develop new e-banking services in order to takeadvantage of customer demand for mobile transactions.The Asia Commercial Bank (ACB) seems to have joined this movement at the right time. Sincelate May, the bank has offered several new e-banking services under the "ACB Online-MobileService" name.These utilities will help customers make transactions any time, anywhere on their portabledevices.ACB Online is compatible with most of the mobile phones and tablet PCs currently on themarket. The new service offers customers the ability to check their balance as well as obtainother information such as interest rates, fees, and securities. Customers can also transfer moneyboth inside and outside ACB Bank by credit card, ID card or passport, recharge prepaid mobilephones and pay post-paid mobile phone bills.Many other commercial banks have also launched internet banking services similar to the ABCOnline-Mobile Service to help customers easily make transactions via mobile electronic devices.The Military Joint Stock Commercial Bank offers the eMB service, Orient Joint StockCommercial Bank has the OCB Online service, and Ocean Joint Stock Commercial Bankfeatures the Easy Online Banking service.
  2. 2. Meanwhile, Nam A Joint Stock Commercial Bank facilitates customers transactions with theDai A Bank Online service, and the Dong A Joint Stock Commercial Bank has launched its ownMobile Banking Service.The HCM City Development Joint Stock Commercial Bank (HDBank) has also enriched itsinternet banking service with utilities for corporate customers. Customers will find it easy tomake periodical/lot transfers into or out of the HDBank system as well as settle expenditures andbuy airplane tickets.Furthermore, customers can settle electric bills (HCM City) or buy airplane tickets from agents.All transactions are guaranteed under the automatic multi-level submission mode.Accordingly, such transactions will undergo multiple checks before going through, ensuringmaximum safety for clients. These services are now free or discounted, as are many otherincentives offered by the banks. — VNS

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