Developing card services at Asia Commercial Joint Stock Bank - 7

From the above limitations, the study opens a new research direction for future studies to come up with more specific card service development solutions , more suitable for other regions and markets. together.

Conclusion of chapter 5

The author has proposed 08 necessary solutions to develop card services at ACB related to: brand, technology infrastructure, ATM/POS network, utility, psychology, card development strategy, human resources and risk management activities

Due to the limitations of time, knowledge and experience, the study encountered limitations in terms of samples, research methods.

The study opens up a new research direction for future research to come up with more specific card service development solutions, more suitable for different regions and markets.

CONCLUDE

As one of the pioneer banks in card business in Vietnam over the years, Asia Commercial Joint Stock Bank (ACB) has achieved initial successes, maintained its reputation in the market and with customers. However, the reality of the market in the past few years has been posing many obstacles for this business. And like any new type of service, the immediate development path is still long with many difficulties and challenges, requiring ACB to overcome in order to stand firm in the competition and in the market.

With the relatively strong growth rate of ACB in recent years, along with solid experience in card business, effective management apparatus, dynamic sales staff combined with a strong corporate background, With modern technology as the basis, ACB will promote its advantages and overcome difficulties to maintain its position as the leading bank in card business in Vietnam, reaching higher results, well serve the card development strategy of ACB in particular and of the whole banking system in general.

Research topic "Development of card services at Asia Commercial Joint Stock Bank" has achieved the research objectives set out. The topic has new points compared to previous studies, which is to find out the main factors affecting the development of card services at ACB today and has given some solutions to develop card services of ACB. ACB.

However, the study still has many limitations. The limitations in the research paper open up a new research direction for future research to come up with more specific card service development solutions, more suitable for different regions and markets.

REFERENCES

VIETNAMESE DOCUMENTS

1. Bui Quang Tien, 2013. Solutions to promote the development of Vietnam's card market 2013-2014.  Scientific conference: Solutions for effective development of the credit card market in Vietnam. Vietnam Bank Card Association, January 2013.

2. Bui V eats the rain, 2011.  Philosophy (Part 1) An overview of the history of philosophy.

HCMC: Economic Publishing House - University of Economics Ho Chi Minh City.

3. Dang Cong Hoan, 2013. Sustainable development of payment cards in Vietnam. Financial Journal , No. 9/2013, pages 3-6.

4. Dao Le Kieu Oanh, 2012. Some opinions on retail banking model. Development and Integration Journal , No. 2 (12), pp. 26-28.

5. Dao Le Kieu Oanh, 2012.  Development of wholesale and retail banking services at Bank for Investment and Development of Vietnam . Doctoral thesis. Banking University of Ho Chi Minh City.

6. Do Thi Lan Phuong, 2014. Cashless payments: Trends in the world and practice in Vietnam. Financial Journal , No. 7/2014, pages 26-29.

7. Hoang Trong and Chu Nguyen Mong Ngoc, 2005.  Data analysis with SPSS research . Hanoi: Statistical Publishing House.

8. Hoang Trong and Chu Nguyen Mong Ngoc, 2008.  Research data analysis with SPSS . Ho Chi Minh City: Hong Duc Publishing House.

9. Le Thi Man, 2014.  Commercial banking operations . Hanoi: Social Labor Publishing House.

10. Luong Thi Ngoc Lan, 2011. Developing payment card services at Joint Stock Commercial Bank for Industry and Trade of Vietnam, Luu Xa - Thai Nguyen branch. Journal of Science and Technology of Thai Nguyen University , No. 1, vol. 77, pp. 35-38.

11. State Bank of Vietnam, 2007.  Decision No. 20/2007/QD-NHNN dated 15/05/2007 on Regulation on issuance, payment, use and provision of supporting services for bank card operations. . Hanoi.

12. Asia Commercial Joint Stock Bank, 2007 – 2014.  Internal documents of Asia Commercial Joint Stock Bank - Decision No. 20/2007/QD-NHNN Regulations on issuance, payment, use and provision of services Bank card operations support. HCMC: Quality Department of Asia Commercial Joint Stock Bank

13. Asia Commercial Joint Stock Bank, 2010.  Report on card business 2010.

Ho Chi Minh City, January 31, 2011.

14. Asia Commercial Joint Stock Bank, 2010.  Report on card business 2010.

Ho Chi Minh City, January 31, 2011.

15. Asia Commercial Joint Stock Bank, 2010.  Report to General Department of Personal Service Business, 2010.  Ho Chi Minh City, January 15, 2011.

16. Asia Commercial Joint Stock Bank, 2010.  Annual Report 2010,  HCMC, April 1, 2011.

17. Asia Commercial Joint Stock Bank, 2011.  Report on card business in 2011.

Ho Chi Minh City, January 31, 2012.

18. Asia Commercial Joint Stock Bank, 2011.  Report to General Department of Personal Service Business Activity 2011.  Ho Chi Minh City, January 15, 2012.

19. Asia Commercial Joint Stock Bank, 2011.  Annual Report 2011,  HCMC, April 1, 2012.

20. Asia Commercial Joint Stock Bank, 2012.  Report on card business in 2012.

Ho Chi Minh City, January 31, 2013.

21. Asia Commercial Joint Stock Bank, 2012.  Report to the General Department of Personal Service Business, 2012.  Ho Chi Minh City, January 15, 2013.

22. Asia Commercial Joint Stock Bank, 2012.  Annual Report 2012,  HCMC, April 1, 2013.

23. Asia Commercial Joint Stock Bank, 2013.  Report on card business 2013.

Ho Chi Minh City, January 31, 2014.

24. Asia Commercial Joint Stock Bank, 2013.  Report to the General Department of Personal Service Business, 2013.  Ho Chi Minh City, January 15, 2014.

25. Asia Commercial Joint Stock Bank, 2013.  Annual Report 2013,  HCMC, April 1, 2014.

26. Asia Commercial Joint Stock Bank, 2014.  Report on card business 2014.

Ho Chi Minh City, January 31, 2015.

27. Asia Commercial Joint Stock Bank, 2014.  Report to General Department of Personal Service Business, 2014.  Ho Chi Minh City, January 15, 2015.

28. Asia Commercial Joint Stock Bank, 2014.  Annual Report 2014,  HCMC, April 1, 2015.

29. Asia Commercial Joint Stock Bank, 2015.  Annual Report 2015,  HCMC, April 1, 2016.

30. Nguyen Dang Don, 2007.  Commercial banking . HCMC: Economic Publishing House - University of Economics Ho Chi Minh City.

31. Nguyen Minh Kieu, 2007.  Commercial banking , HCMC: Financial Publishing House.

32. Nguyen Trong Hoai, 2007.  Economic development .HCM City: Lao Dong Publishing House.

33. Pham Cong Uan, 2013. Credit information with the development of Vietnam credit card market. Scientific conference: Solutions to effectively develop the credit card market in Vietnam. Vietnam Bank Card Association.

34. Cashless payment: Trends in the world and practice in Vietnam [Date of access: 23 November 2015]

35. World Trade Organization, 1997.  General Agreement on Trade in Services . Urquay.

36. Tran Thi Phuong Thao, 2011.  Development of card services at Joint Stock Bank for Industry and Trade of Vietnam – Thua Thien Hue Branch . Master thesis. University of Danang.

37. Trinh Quoc Trung, 2009.  Banking Marketing , HCMC: Statistical Publishing House.

38. Truong Quang Thong, 2010.  Commercial Banking Administration . Ho Chi Minh City: Finance Publishing House.

39. Vu Van Thuc, 2012. Development of card services at Bank for Agriculture and Rural Development of Vietnam. Journal of Development and Integration , No. 7 (17), pp. 22-25.

ENGLISH DOCUMENT

40. Ali Kara, Erdener Kaynak, Orsay Kucukemiroglu, 1994. Credit Card Development Strategies for the Youth Market: The Use of Conjoint Analysis,  International Journal of Bank Marketing , Vol. 12 Iss: 6, pp.30 – 36.

41. Andreassen, TW and Lindestad, B., 1998. Customer Loyalty and Complex Services. International Journal of Service Industry Management , Vol. 9 No. 1, 1998, pp. 7-23.

42. Bernd. S and Patricia. N, 1997. The qualitative satisfaction model. International Journal of Service Industry Management , Vol.8 No.3, pp.236-249.

43. David.Cox, 1997.  Management of finance , Osborne Books Ltd Publisher, ISBN – 10: 1872962238.

44. Hanudin Amin, 2013. Factors influencing Malaysian bank customers to choose Islamic credit cards: Empirical evidence from the TRA model,  Journal of Islamic Marketing , Vol. 4 Iss: 3, pp.245 - 263

45. Narteh, Bedman, 2013. Success factors in developing ATM card service: an empirical investigation,  Managing Service , Vol. 23, No. 1, pp. 62-89.

APPENDIX

APPENDIX 1:

CONTENTS AND RESULTS OF PROFESSIONAL METHODS

1. Introduction:

The author uses the method of interviewing experts who are knowledgeable and experienced in the research issue, specifically the card industry, at ACB for at least 3 years.

The author discusses with 15 experts in the field of banking cards in the positions of Directors, Heads of Departments, Team leaders, R&D specialists, product consultants, complaint settlement and care. customers,… Specifically:

STT

First and last name

Title

first

Tran Le Ngoc Tri

Technical Director – Vice President of Card System Upgrade Project

2

Dinh Thai Nguyen

Head of System Development and Care

3

Tran Quoc Thinh

System Monitoring Team Leader

4

Tran Thu Hien

Head of Research and Development

5

Ho Hoang Long

System Care Team Leader

6

Huynh Thi Nha Phuong

Head of Complaint Handling Team

7

Tran Thi Hong Oanh

Complaint Handling Specialist

8

Le Thi Van Anh

Complaint Handling Specialist

9

Nguyen Thi Thanh Tuyen

Customer Service Specialist

ten

Le Nguyen Dai Loc

Customer Service Specialist

11

Lee Bao Long

Specialist in Payment and Card Fraud Management

twelfth

Nguyen Thi Bao Ngoc

Research and Development Specialist

13

Nguyen Thi Kim Loan

Card Marketing Specialist

14

Phan Dinh Phu

Communication and Brand Specialist

15

Nguyen Thi Ngoc Co

Cardholder and Agent Processing Specialist

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Developing card services at Asia Commercial Joint Stock Bank - 7

The discussion is carried out with the above subjects in turn and is expected to take 1 working day to develop a preliminary survey.

2. Content of implementation:

First, the author discusses with the participating experts about card service development and factors affecting card service development at ACB;

After that, the author synthesizes and statistics the questionnaire of experts to determine the factors affecting the development of card services at Asia Commercial Joint Stock Bank to build a scale. rough measure.

3. Results of discussion

After the discussion, the author has summarized the opinions of experts on the factors affecting the development of card services at ACB.

A total of 8 factors affecting the development of card services at ACB were proposed by the expert group through Brainstorming method and numbered from 1 to 15. The following table shows the opinions of the experts. :

STT

Encode

Element

Number of experts agreeing (Frequency)

first

TL

Customer psychology

15

2

PL

Juridical

15

3

CN

Technology infrastructure

14

4

th

Trademark

15

5

ML

ATM/POS network

15

6

TIEN

Utilities

14

7

FLY

Fee

8

8

QT

Procedures

7

Table 1. Results of expert opinion on factors affecting the development of card services at ACB

After discussion, the experts agree that the Fees and procedures should be removed because:

 Currently, card-related fees are gradually being freed by banks or collecting a small fee when issuing or using in order to increase competition in the market;

 As for the procedure, experts say that currently, ACB's card issuance procedure is quick, typically ACB2GO card, customers will receive the card, PIN code and activation instructions only after 15 minutes from the time of registration to use the card at customer service (This is a very competitive advantage of ACB in the market).

Therefore, the results after interviewing experts, the author adjusted from 8 factors affecting the development of card services at ACB down to 6 factors including: Customer psychology (TL), Legal (PL) ), Technology Infrastructure (CN), Brand (TH), ATM/POS Network (ML), Utilities (TI).

The author uses the results to conduct a group discussion to confirm once again the factors affecting the development of card services of ACB. Finally, the author will use the scale after group discussion as the official scale for survey. The author uses this scale as the official scale to conduct interviews with over 350 people. And make the official database for the thesis.

APPENDIX 2:

1. Introduction

GROUP DISCUSSION CONTENTS AND RESULTS

The author conducts a group discussion to confirm once again the factors affecting the development of card services at ACB. Finally, the author will use the scale after group discussion as the official scale to survey the factors affecting the development of card services at ACB.

The group discussion is expected to include the following sections:

 General introduction (reason/purpose/participant);

 Brief introduction/presentation of the discussion;

 Conduct discussions and synthesize opinions;

Estimated time of implementation is 03 working hours to develop the preliminary survey. The discussion structure consists of 10 members. Attending members are individuals who know their skills, regularly use and contact the card, including 01 individual customer relationship specialist, 02 individual customer relations staff, 02 tellers, 03 staff members. personal customer service staff (counter), 02 consultants of customer service center 24/7…

STT

First and last name

Title

first

Bui Thi Tra My

Personal service business specialist

2

Nguyen Duc Cuong

Personal service salesperson

3

Bui Cong Thanh

4

Huynh Ngoc Phong

5

Nguyen Thi Hanh Nguyen

Tellers

6

Nguyen Thi Thuy Thuong

Personal customer service staff (at the counter)

7

Tran Binh Linh Thoa

8

Nguyen Thi Anh Duong

9

Vu Thuy Huynh

24/7 customer service center consultant

ten

Ha Tran Thuan Vu

2. Content of group discussion

The author uses the real group interview method about the research problem.

Specific steps:

First,  Determine the goal of the research problem. That is redefining the factors affecting the development of card services at ACB;

Second,  Ask a group discussion question. The author first clarifies the related concepts and then synthesizes the opinions of 10 members to clarify the issues that the experts have built:

a. Customer psychology: People's cash habits have a great influence on the development of cards, especially in the card payment process. A market where people still only have the habit of spending in cash will not be a good environment to develop the card market. Only when the payment is done mainly through the banking system will the payment card really promote its full effectiveness.

b. Legal: Card service business in any country is conducted within a certain legal framework. The card regulation creates a common legal environment for specific operations in the card service business to suit the market situation and the conditions of each bank.

c. Technology infrastructure: The development of science and technology of a country will have a great influence and determine the quality of payment services and card issuance. The higher the technology level, the better the service quality, the higher the security, thus attracting a large number of card users.

d. Brand: Brand image is what consumers think and feel about that brand. Brand image is a group of attributes and associations that consumers associate with a brand.

e. ATM/POS network: The network located at convenient and extensive locations will create favorable conditions for customers, and the convenience of card products will also increase. From there, the bank will attract more customers to use the card.

f. Convenience: Using a card as a payment tool makes it easier for consumers to make purchases. This makes it easy for sellers

have the opportunity to increase their sales. With the acceptance of payment cards, sellers are able to reduce the costs of cash management such as preservation, counting and depositing into bank accounts... In addition, the payment between buyers and sellers. The seller is guaranteed by the bank to be fast, convenient and accurate

Third,  Develop the moderator's outline  Synthesize opinions to proceed with the construction of the official scale.

Fourth:  Conduct group interviews.

3. Results of group discussion

End The following table shows the requirements

Build a questionnaire for group discussion :

What factors  affect the development of card services of ACB ?

STT

ENCODE

Factors affecting

to the development of card services of ACB

Number of members agreeing (Frequency)

first

TL

Customer psychology

ten

2

PL

Juridical

ten

3

CN

Technology infrastructure

ten

4

th

Trademark

ten

5

ML

ATM/POS network

ten

6

TIEN

Utilities

ten

7

PTDVT

Card service development

ten

After discussing and agreeing on 6 factors to  evaluate the development of card services of ACB  , including: TL, PL, CN, TH, ML, TI.

Recommendation:  Based on Table 2, the author found that there are all 6 factors and 24 observed variables to  evaluate the development of card services of ACB . The author uses this scale as the official scale for conducting interviews.

APPENDIX 3:

RESULTS OF DATA PROCESSING BY SPSS

1.Descriptive statistics of the research sample

1.1 Gender

 

Frequency

Percent

Valid Percent

Cumulative Percent

 

male

107

49.5

49.5

49.5

Valid

Nu

109

50.5

50.5

100.0

 

Total

216

100.0

100.0

 

1.2 Age

 

Frequency

Percent

Valid

Percent

Cumulative

Percent

Tu 18 den 30

97

44.9

44.9

44.9

Tu 31 den 40

78

36.1

36.1

81.0

Tu 41 den 45

17

7.9

7.9

88.9

Valid

       

Tu 45 den 50

15

6.9

6.9

95.8

Tren 50

9

4.2

4.2

100.0

Total

216

100.0

100.0

 

1.3 Years of service

 

Frequency

Percent

Valid Percent

Cumulative Percent

 

< 1 male

19

8.8

8.8

8.8

 

1 year < 3 male

59

27.3

27.3

36.1

Valid

Tu 3 den < 5 male

92

42.6

42.6

78.7

 

> 5 men

forty six

21.3

21.3

100.0

 

Total

216

100.0

100.0

 

1.4 Working department

 

Frequency

Percent

Valid

Percent

Cumulative

Percent

 

Sale

60

27.8

27.8

27.8

 

CSR – Rotate GD

85

39.4

39.4

67.1

Valid

CC/XLNV

38

17.6

17.6

84.7

 

other

33

15.3

15.3

100.0

 

Total

216

100.0

100.0

 

1.5 Type of card in use

 

Frequency

Percent

Valid

Percent

Cumulative

Percent

The news

30

13.9

13.9

13.9

The record no

133

61.6

61.6

100.0

Valid

       

The previous investigation

53

24.5

24.5

38.4

Total

216

100.0

100.0

 

2. Results of testing the reliability of the Cronbach Alpha scale.

2.1. Analysis results of Cronbach's Alpha coefficient on customer psychology scale (TL)

Reliability Statistics

Cronbach's Alpha

N of Items

,719

4

Item-Total Statistics

 

Scale Mean if Item

Deleted

Scale Variance if Item Deleted

Corrected Item- Total Correlation

Cronbach's Alpha if Item

Deleted

TL1

10.3472

5.223

,494

,665

TL2

10.3611

5.106

,548

,633

TL3

10.1389

5.255

,446

,696

TL4

10.1389

5.181

,545

,636

2.2. Analysis results of Cronbach's Alpha coefficient on legal scale (PL)

Reliability Statistics

Cronbach's

Alpha

N of Items

,707

3

Item-Total Statistics

 

Scale Mean if Item

Deleted

Scale Variance if Item Deleted

Corrected Item- Total Correlation

Cronbach's Alpha if Item

Deleted

PL1

6.9120

2.564

,518

,625

PL2

6.9722

2,632

,555

,580

PL3

6.9398

2.671

,501

,644

2.3. Analysis results of Cronbach's Alpha coefficient on the scale of technology infrastructure (CN)

Reliability Statistics

Cronbach's

Alpha

N of Items

,725

4

Item-Total Statistics

 

Scale Mean if Item

Deleted

Scale Variance if Item Deleted

Corrected Item- Total Correlation

Cronbach's Alpha if Item

Deleted

CN1

9.6065

6.575

,513

,665

CN2

9,5509

6.146

,590

,619

CN3

9,7176

6.576

,465

,694

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