In the context of the banking industry promoting the application of science and technology and prioritizing digital transformation with the direction of the Prime Minister, Liobank digital bank has demonstrated its pioneering role in effectively implementing digital solutions, shaping new habits for customers, especially modern youth.

Liobank digital bank brings customers a convenient and fast experience. Photo: Provided by the unit

Liobank digital bank applies OKYC technology

Launched in early 2023, with the goal of "Making Vietnamese banking services easier than ever with reasonable costs, convenient and interesting features", all operations on the Liobank application are designed to be simpler than traditional methods, bringing unique experiences such as Shake to pay - shake the phone to transfer money, return money to the person who sent money without knowing the account number and transfer money to friends with a Liobank account in the phone book. Customers can also name folders to manage utility bills, helping to optimize personal financial management...

It is known that Liobank digital bank applies OKYC technology, customers only need a few simple steps to open an account and have it delivered to their home in 7 provinces and cities in Vietnam. When receiving the card, customers will be confirmed by support staff, activate the card on the spot and quickly receive the results of the card credit limit review. All transactions and requests can be performed on the application without having to go to the counter or prepare complicated paperwork. In particular, Liobank also waives account opening, card issuance, annual fees, money transfer fees and many other service fees.

Liobank digital bank focuses on granting credit limits to customers to meet their maximum spending needs and transparency in all transactions through the application of credit decision-making processes based on Machine Learning and Big Data, independent of traditional data. From there, deploying the experience limit (EduLimit), thereby creating opportunities to access credit for customers with no transaction history, helping customers get acquainted with financial products and building a customer behavior scoring system, this is an effective financial education model for those who have just entered university or just graduated. Not only that, Liobank digital bank also meets the needs of saving and investing, aiming to build simple profitable saving behavior right from small amounts of money and associated with daily activities.

In addition, Liobank possesses many advantages such as providing excellent mobile apps on cloud native and micro service platforms to ensure smooth use and responsiveness when the number of users grows rapidly; meeting daily payment needs with Liobank 2in1 card combining both debit and credit with Apple pay/Google pay/QR payment Liobank.

Currently, Liobank is also the only bank in Vietnam to deploy the service "Realtime Cashback - Immediate refund" with many attractive categories such as supermarkets, electronic shopping, movies, and especially the travel category with Metro Line 1 HCMC, with a refund rate of up to 20%.

After nearly 2 years of being launched on the market, Liobank digital bank has recorded impressive growth with more than 500,000 new customers and more than 1.2 million app downloads, the total value of transactions received and sent via Liobank reached 11 trillion VND, 8 million transactions were made, an increase of 4.2 times compared to 2023. The ranking on app stores reached 4.7+, among the top financial applications. This increase demonstrates users' trust in Liobank, thanks to its fast, secure transaction experience and easy-to-use interface, along with attractive incentives suitable for customer needs.

By applying technological advantages, the cooperation program between Liobank digital bank and Metro Line 1 in Ho Chi Minh City was launched on the first day of Metro inauguration. Liobank successfully deployed 4 booths at the busiest stations. In less than 5 minutes, passengers can own a Liobank card to use free transportation services in the first month. After only 20 days, more than 4,000 cards were issued, recording strong interest from users.

Ms. Thao (26 years old, Binh Thanh district) shared: “I was really surprised when it only took a few minutes to receive the Liobank card and could use it immediately. Traveling by Metro combined with a convenient digital bank card like this helps me feel more clearly about smart urban life. Besides, the 20% cashback program with Liobank card is really attractive. Not only does it save costs, but it also gives me more motivation to use digital services.”

In less than 5 minutes, passengers can immediately own a Liobank card for use . Photo: Provided by the unit

Bank – a place that provides quick financial solutions

It can be seen that the digital transformation process does not only come from the efforts of the bank but also depends largely on the adaptability of customers. The younger generation with its understanding of technology and habit of using digital services is becoming the core customer group in this strategy. Programs such as the cooperation with Metro not only help young people access digital banking more easily but also gradually form a new mindset when thinking about banks - a place that provides financial solutions that are fast, flexible and suitable for modern lifestyles.

“In the next step of development, we will focus on applying new generation AI technology to personalize customer experience and service provision. In addition, in addition to major cities, Liobank will also expand its ability to provide financial services to provinces, rural areas and strongly develop partnerships and ecosystems. We will also implement comprehensive solutions to optimally secure and protect customer information,” Mr. Ngo Phuoc Nhat Khanh - Director of Liobank Digital Bank shared more.

In the context of digital transformation becoming an inevitable trend in the banking industry, Liobank Digital Bank has stood out thanks to its close and creative approach. Not only does it bring a convenient experience to users, but it also contributes to shaping the habit of using digital financial services among young people. This is a clear demonstration that commercial banks can successfully implement the Government's direction on innovation and digital transformation in the finance and banking sector.