Vietnam-based An Binh Commercial Joint Stock Bank (ABBANK) has invested in engagement banking firm Backbase to launch digital banking platform.

The duo said in a statement on Wednesday that ABBANK has successfully launched a new business digital banking platform – ABBANK Business, marking a pivotal step in ABBANK’s commitment to supporting all enterprise segments, enhancing customer-centric digital experiences across Vietnam.

With this launch, ABBANK provides business owners with enterprise-grade technology and digital banking capabilities through the Backbase engagement banking platform, leveling the playing field and delivering a seamless, secure platform for business growth and financial management.

This platform adoption represents one of ABBANK’s bold moves in the digital space, simplifying banking for small and medium-sized enterprise (SMEs) and entrepreneurs through a fast, secure, app-based service.

It is noted that ABBANK’s mission is to foster Vietnam’s economic growth by empowering SMEs with essential tools for success.

By launching ABBANK Business on Backbase’s platform, ABBANK aims to extend its impact among SMEs and entrepreneurs who prioritize digital convenience and robust financial support.

With this milestone, ABBANK reinforces its role as a trusted financial partner for businesses and entrepreneurs in Vietnam, supporting them with the innovation, security, and service levels essential for success in a digital-first world.

ABBANK Business delivers three core business values: superior management, fast and secure functionality, and a seamless user experience.

Key features for the launch phase include customizable account numbers, quick bill payments for utilities, international money transfers, and a dashboard that provides an easy overview of assets, interest rate updates, and recent transaction information.

With the agile working model, the advanced features are under developed in parallel for the optimal customer experience.

The new platform launch follows a seamless three-month migration, during which ABBANK transitioned 100 percent of its existing business banking clients to the new platform without disruption.

Now, 88 percent of these most active customers use the app as their primary banking channel.

Building on Backbase’s engagement banking platform, the app offers SMEs a streamlined, user-friendly experience tailored to the unique demands of business banking.

It is noted that over the last one-year, ABBANK has attracted hundreds of talents in technology and data for the digital transformation drive.

“ABBANK Business is a strong testament to our customer centricity strategy, building solutions from insights to meet corporate clients’ needs,” said Pham Duy Hieu, Chief Executive Officer, ABBANK.

“The new application makes banking easy, safe and convenient for our clients while enhancing ABBANK’s efficiency and enabling us to achieve transformative SME digital banking goals,

“Backbase platform, on which ABBANK Business is built, provides such robust architecture we need to deliver for our clients,” he added.

Riddhi Dutta, Regional Vice President, Asia, Backbase, said that ABBANK’s digital transformation is driven by its collaborative development approach and adaptability.

“By adopting an anchor platform and establishing a Center of Excellence with in-house expertise, ABBANK has laid the groundwork for successful, sustained digital transformation,” he added.

Established in 1993 as a retail banking institution, ABBANK now has a robust nationwide transaction network of 165 branches across 34 provinces and innovative digital banking platforms ABBANK Business and AB Ditizen, serving more than two million customers.

Backbase is a privately funded fintech company, founded in 2003 in Amsterdam.

With its Asia Pacific (APAC) headquarter in Singapore, the firm operates across key regional markets including Australia, India, Indonesia, Malaysia, the Philippines, Thailand, and Vietnam.

The company also has regional hubs strategically located in the Americas, Europe, the Middle East, and Africa.

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