Cooperation to deploy Databricks Data Intelligence Platform, to promote digital transformation and AI application on a bank-wide scale.
This partnership is part of Techcombank's strategy of investing heavily in technology, data and digital human resource development in the 2021-2025 period. Through the application of data and AI, Techcombank expects to enhance the service experience for customers and create breakthrough growth.
Techcombank has centralized data from the entire system and moved most of its major platforms to the cloud to build a comprehensive “data brain”. The deployment of Databricks’ Data Intelligence Platform will help Techcombank consolidate data from more than 50 systems, improve governance, optimize analysis processes and make decisions based on data, analytics tools and AI. As a result, Techcombank can provide more effective personalized experiences to customers.
Mr. Santhosh Mahendiran, Director of Data and Analytics at Techcombank, emphasized: "With more than 14.4 million customers and a network of 315 branches, Techcombank processes a huge amount of data. Thanks to Databricks' advanced technology platform, we can consolidate all data, enhance our analytical capabilities and apply AI to improve processes, promoting business growth based on the core value of "customer-centricity".
Understand customers better with Data Intelligence Platform
Databricks Data Intelligence Platform is built on an open lakehouse architecture, providing a unified platform for comprehensive data governance specific to each organization.
Through Databricks, Techcombank’s “customer brain” acts as a 360-degree tool, helping to centralize all data and provide deep insights to build marketing strategies as well as create highly personalized products and services. By thoroughly analyzing customer behavior and preferences, Techcombank will better understand its customers, thereby improving their satisfaction and engagement with the bank.
Techcombank currently operates more than 45 advanced machine learning models to accurately predict customer needs. The bank has also deployed MLflow to manage the lifecycle of machine learning models and Unity Catalog for centralized data governance.
In the coming year, Techcombank plans to continue centralizing thousands of machine learning features and models on the Databricks platform, driving predictive analytics and supporting the bank's comprehensive digital transformation goals.
Leveraging AI to Drive Business Growth and Mitigate Risk
Through AI and data, Techcombank has introduced key solutions that are reshaping its digital banking services. These include: AI-powered lead management system, through an internal AI program called 'Lead Allocation Curated Engine (LACE), which optimizes lead management, providing customer relationship specialists with deeper insights. This helps to allocate leads more appropriately, thereby driving business growth.
Next, the AI-powered Digital Banking Program supports small businesses through GeoSense, an AI-powered tool that helps frontline sales teams accurately locate potential small businesses and entrepreneurs to drive customers into the bank's digital ecosystem.
In addition, Techcombank also uses machine learning models on the Databricks platform to detect and minimize fraud. At the same time, it improves the accuracy of credit risk assessment and ensures safety and security for banking activities.
Developing digital data human resources throughout the bank
Techcombank has plans to upskill more than 1,000 employees in the field of data and AI, helping to increase internal capacity across the system. With more than 1,800 experts in the fields of IT, data science and technology, Techcombank is aiming to become a leading bank in applying data and AI to deliver superior customer experiences.
“We are delighted that Techcombank has chosen Databricks’ Data Intelligence Platform for its data transformation and AI. Unifying large volumes of data from multiple systems is key to enabling the bank to leverage AI and data intelligence, which in turn provides valuable insights for more personalized and customized services. This not only helps Techcombank lead the digital transformation of Vietnam’s banking industry, but also sets a new standard for a customer-centric bank that leverages the power of AI,” said Cecily Ng, Vice President and Managing Director, ASEAN and Greater China, Databricks.
