Development of Banking Product and Service System

Loosening or tightening the above activities will limit or expand the activities of TC-NH groups. In addition, the recognition or non-recognition of the legal factors of the form of TC-NH groups is also a factor that promotes or inhibits the emergence of groups. In other words, the process of formation and development of TC-NH groups takes place according to objective laws, but state management agencies also play an important role in issuing regulations and directions.

In the United States, the loosening and elimination of regulations on interstate banking systems and the adoption of the parent-subsidiary model have facilitated the consolidation of the financial sector. Interstate banking regulations were initially tightened to avoid risks but were gradually relaxed from the early 1980s, and expired in 1994, replaced by the Federal Law of 1994. The abolition of these regulations promoted the consolidation and merger of banks in the same industry. According to statistics, from 1994 to 2003, within 10 years, there were 3,157 mergers in the banking industry [24].

Or, since 1987, the Texas legislature has allowed the entry of out-of-state banks. That same year, Chemical Bank of New York acquired Texas Commerce Bank, with assets of $11.4 billion. Similarly, Interfirst Bank, with assets of $8.8 billion, was acquired by RepublickBank, and in just two years, the Texas market was dominated by five out-of-state institutions.

When the US Congress repealed the Glass-Steagall Act of 1933, the mergers between large banks to form financial groups began to take place strongly, and megabanks began to appear. As regulations and laws were loosened, financial institutions grew rapidly in size and complexity, playing an increasingly important role in the US economy.

1.3.2.2. Management and personnel structure of commercial banks

The operational efficiency of TC-NH Group depends largely on the qualifications and capacity of the staff that NHTM has, especially the leadership team. The larger the scale and complexity of TC-NH Group, the more professional the staff must be in handling business operations, managing operations as well as customer transactions.

In particular, the senior leadership team requires experienced experts not only in professional expertise but also good at management skills and other “soft” skills. One of the most important issues is the ethics of managers because it affects the transparency, honesty and long-term efficiency of the entire corporation.

In addition, "corporate culture" is increasingly showing its importance and influencing the existence and development of commercial banks. This is a major topic that needs to be fully researched and is one of the important goals in the bank's development strategy. Corporate culture is an intangible asset for banks to complete and enhance their brand. Corporate culture can only exist and develop in banks when bank staff understand its nature, and bank managers concretize it into standards, and at the same time have measures to educate, train and encourage everyone to implement it seriously and voluntarily. Although corporate culture does not replace other resources of the bank, it can create an environment and ways to maximize the effectiveness of the above resources. In corporate culture, it is also necessary to mention professional ethics, which is a high responsibility that commercial banks must build from their staff to create trust and increase the reputation and brand of the bank.

Another problem is management. Managing a business is difficult, managing a corporation with many businesses is even more difficult. Therefore, there are only those who

Only commercial banks with advanced management systems and effective risk management can form corporations because corporations are always complex and diverse in ownership relations.

1.3.2.3. Financial capacity of commercial banks

From the economic perspective of entities operating in the financial and monetary sector as well as in other business sectors, capital is one of the extremely important and necessary factors. Business advantages and efficiency depend on capital and capital size. Only with abundant financial potential, large capital size, and large asset size can the group's position and brand be affirmed in the market, while at the same time promoting the advantage of scale to increase investment capacity, withstand risks and improve operational efficiency.

Without abundant financial capacity, TC-NH Group will find it difficult to conduct product research, expand markets and market share, modernize information technology and improve management capacity.

In theory, up to now, people have not agreed on what scale will create advantages and at what scale the advantages will no longer be effective. However, through the study of European banks by the European Investment Bank (EIB), in the 1990s, that scale was 600 million EURO for the assets of each savings bank, and in recent years it was 25 billion USD [60]. Although there is no agreement, Table 1.2 shows that the world's largest financial groups always have asset values ​​of hundreds of billions, thousands of billions of USD.

1.3.2.4. Development of banking product and service system

Over a long period of time, along with the development of society, from the initial simple products and services of keeping, buying, selling, and exchanging money, banking products and services have now developed strongly with many forms, many tools, many diverse methods and are increasingly modern. The development of products and services, especially derivative products based on modern technology platforms, connecting banks - securities - insurance has contributed to promoting changes in

Bank organizational structure. From simple organizational structures, banks will have to restructure so that products and services are always customer-oriented, customer-centric, and build joint venture relationships to cross-sell products as well as exploit customer potential to the fullest[6,23].

In addition, banking and financial products and services are no longer limited to the national scope but are reaching out globally, any product can be compatible and interconnected with other banks in the world, such as payment cards, credit cards or foreign exchange business, international payment business. In particular, bancassurance derivative products or the combination with credit swaps, investment consulting, securities, newly formed insurance have contributed to changing the banking structure and forming large TC-NH groups to seek stronger development [1].

1.3.2.5. Ability to apply modern information technology

Information technology is a necessary factor and condition to contribute to promoting the formation and development of TC-NH Group. Modern information technology will help the management work to be more centralized and stricter, allowing for management on a larger scale, not only limited to the banking sector but also expanding to other sectors of affiliated members, enhancing timely risk warnings as well as exploiting other resources more effectively. The development of information technology also allows for the development of a modern product and service system based on a high-tech platform with many utilities for the group itself and its customers.

1.3.2.6. Network system and agency relationships

As the world and regional markets gradually become common markets, the scope of operations of economic entities is no longer limited by country or territory. This encourages commercial banks to expand their affiliated networks within and outside the country as well as build agency relationships with other commercial banks globally to meet customer needs.

Thanks to the expansion of the network system and agency relationships, TC-NH Group has the ability to expand its brand, meet customer needs as quickly as possible, shorten service time and exploit market resources, customers, capital and assets more effectively.

1.3.2.7. Some other conditions

It is the voluntary action of the Joint Stock Commercial Bank and its members and between banks. First of all, to form a TC-NH group, the subjective will and voluntary action of the parties involved is a prerequisite, together implementing the principles of investment, cooperation and association voluntarily. The formation of a financial group must comply with economic laws, cannot be assembled by administrative orders, must comply with the method of voluntary contribution of shares, participation in shares of investors, with the link between enterprises mainly being capital and the common market.

In addition to the ability to manage risks because commercial banks are large and complex organizations, corporate management requires better risk management capabilities. Risk management capabilities must be demonstrated from the establishment of risk management policies to regular implementation and control.

1.4. EXPERIENCES FOR VIETNAM FROM SOME GROUPS IN THE WORLD

1.4.1- Hongkong and Shanghai Banking Corporation Holdings (HSBC)

HSBC Holdings was established in 1991 as the parent company of The Hong Kong and Shanghai Banking Corporation in Hong Kong. HSBC's headquarters are at HSBC Tower (8 Canada Square) in Canary Wharf, London. The group is named after its founding and largest shareholder.

The Hongkong and Shanghai Banking Corporation, a bank founded in Hong Kong in 1865 by Thomas Sutherland to provide financial services for trade between China and Europe. During more than a century of existence

HSBC was once just an average bank, not as famous as American banks. However, in the last 30 years, HSBC has made a "great leap forward" to become one of the world's leading corporations.

Since 1997, HSBC has made more than 50 large and small acquisitions, mainly acquiring banks in many countries to expand its operations and influence. Typically, in 1992, HSBC spent 9.7 billion USD to acquire Republic National Bank of New York (USA) and listed its shares on the New York Stock Exchange (USA). In 2000, HSBC acquired CCF (France) and in 2003, continued to buy the Household International financial group (USA) for 15 billion USD. In 2004, HSBC bought 19.9% ​​of the shares of Bank of Communications (headquartered in Shanghai), the 5th largest commercial bank in China, for 1.75 billion USD and in 2005, it bought 19.9% ​​of the financial-insurance group Ping An Insurance [53].

HSBC Holdings is currently one of the world's leading financial and banking service providers with total assets of 2,468 billion USD and more than 110 million customers. The group also owns more than 10,000 offices,

312,000 employees in 83 countries and territories.

HSBC Group operates in five regions: Europe, Hong Kong, other countries in the Asia-Pacific region, including the Middle East and Africa; North America and South America. With an international network connected by modern technology systems, strong e-commerce capabilities, HSBC provides a financial service system to four main customer groups:

- Retail banking serves mass individual customers

- Commercial banks serving customers are small and medium enterprises,

- Bank serving large economic groups and investing in the financial market

- Banks serving wealthy clients

Figure 1.4: Overview of HSBC Holding's operating model

HSBC Holding
Retail Banking			Corporate and	Business	Private Banking
			Investment	Investment
			Banking	Banking
(specialized in the			(specialized service)	(Serving the Group)	(specialized service)
banking activities			Business customers	and investment in the market	rich customer
retail)			career)	financial school)	Have)

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• Pre-tax Profit of Bidv Tien Giang in the Period 2011-2015 zt2i3t4l5ee zt2a3gsnon-credit services, joint stock commercial bank zt2a3ge zc2o3n4t5e6n7ts At that time, the Branch had to set aside a provision for credit risks, which reduced the Branch's income. Chart 2.2. Pre-tax profit of BIDV Tien Giang in the period 2011-2015 Unit: Billion VND 140 120 100 80 60 40 20 0 63.3 80.34 89.29 110.08 131.99 2011 2012 2013 2014 2015 Profit before tax (Source: Report on the implementation of the annual business plan of the General Planning Department of BIDV Tien Giang [24]) However, through chart 2.2, it can be seen that BIDV Tien Giang's profit is still increasing continuously, and its operating efficiency is currently leaking. This is a contribution of non-credit services, and this service segment will be increasingly focused on growth by BIDV Tien Giang to ensure the highest profit safety because credit activities have many potential risks. At the same time, focusing on developing non-credit services is consistent with one of the contents of restructuring the financial activities of credit institutions in the project "Restructuring the system of credit institutions in the period 2011-2015" approved by the Prime Minister in Decision No. 254/QD-TTg dated March 1, 2012 [14]: "Gradually shifting the business model of commercial banks towards reducing dependence on credit activities and increasing income from non-credit services". 2.2. Current status of non-credit service development at BIDV Tien Giang. 2.2.1. BIDV Tien Giang has deployed the development of non-credit services in recent times. Along with the development of the Head Office, BIDV Tien Giang's products and services are constantly improved and deployed in a diverse manner to ensure provision for many different customer groups in the area: individual customers, corporate customers, and financial institutions. Typical services are as follows: Payment services, treasury services, guarantee services, card services, trade finance, other services: Western Union, insurance commissions, consulting services, foreign exchange derivatives trading, e-banking services,... 2.2.1.1. Payment services: In accordance with the Prime Minister's Project to promote non-cash payments in Vietnam [15], banks in Tien Giang province have continuously developed payment services to reduce customers' cash usage habits through card services and electronic banking services such as: salary payment through accounts, focusing on developing card acceptance points, developing multi-purpose cards, paying social insurance by transfer, paying bills through banks, etc. Chart 2.3. Net income from payment services in the period 2011-2015 Unit: Million VND 6000 5000 4000 3000 2000 1000 0 3922 4065 4720 5084 5324 2011 2012 2013 2014 2015 Net income from payment services (Source: Report on the implementation of the annual business plan of the General Planning Department of BIDV Tien Giang [24]) Along with the technological development of the entire system, BIDV Tien Giang has a payment system with a fairly stable transaction processing speed, bringing many conveniences to customers. The results of observing chart 2.3 show that the income from payment services that the Branch has achieved has grown over the years but the speed is not high and the products are not outstanding compared to other banks. Domestic payment products such as: Online bill payment, electricity bills, water bills, insurance premiums, cable TV bills, telecommunications fees, airline tickets, etc. bring many conveniences to customers. Regarding international payment, this is an indispensable activity for foreign economic activities, BIDV Tien Giang is providing international payment methods for small enterprises producing agriculture, aquatic food and seafood that have credit relationships with banks in industrial parks in Tien Giang province such as: money transfer, collection, L/C payment. 2.2.1.2. Treasury services: BIDV Tien Giang always focuses on ensuring treasury safety and currency security, always complies with legal regulations, and minimizes risks in operations such as: counting and collecting money from customers, receiving and delivering internal transactions, collecting from the State Bank (SBV) or other credit institutions, receiving ATM funds, bundling money, etc. BIDV Tien Giang's treasury service management department is always fully equipped with modern machinery and equipment such as: money transport vehicles, fire prevention tools, money counters, money detectors, magnifying glasses, etc. to ensure absolute safety in treasury operations, immediately identifying real and fake money and other risks that may affect people and assets of the bank and customers. In addition, implementing regulation 2480/QC dated October 28, 2008 between the State Bank of Tien Giang province and the Provincial Police on coordination in the fight against counterfeit money, in the 3-year review of implementation, BIDV Tien Giang discovered, seized and submitted to the State Bank of Tien Giang province 475 banknotes of various denominations and was commended by the Provincial Police and the State Bank of Tien Giang province [17]. Chart 2.4. Net income from treasury services in the period 2011-2015 Unit: Million VND 350 300 250 200 150 100 50 0 105 122 309 289 279 2011 2012 2013 2014 2015 Net income from treasury services (Source: Report on the implementation of the annual business plan of the General Planning Department of BIDV Tien Giang [24]) However, as shown in Figure 2.4, income from treasury operations is not high and fluctuates. Specifically, in the period 2011-2013, net income increased and increased most sharply in 2013, then in the period 2013-2015, there was a downward trend. This fluctuation is due to the fact that fees collected from treasury services are often very low and can even be waived to attract customers to use other services. 2.2.1.3. Guarantee and trade finance services: BIDV Tien Giang, thanks to the advantages of the province and the favorable location of the Branch, has continuously focused on developing income from guarantee services and trade finance. Chart 2.5. Net income from guarantee and trade finance services in the period 2011-2015 Unit: Million VND 14000 12000 10000 8000 6000 4000 2000 0 5193 5695 2742 3420 8889 3992 11604 12206 5143 5312 2011 2012 2013 2014 2015 Net income from guarantee services Net income from Trade Finance (Source: Report on the implementation of the annual business plan of the General Planning Department of BIDV Tien Giang [24]) Through chart 2.5, we can see that BIDV Tien Giang's income from guarantee services and trade finance has grown over the years. The reason is: Among BIDV Tien Giang's corporate customers, the construction industry is the industry with the highest proportion of customers after the trading industry, this is a group of customers with potential to develop guarantee services. The second group of customers is corporate customers in the fields of agricultural production, livestock and seafood processing with high import and export turnover in the area. are the target of trade finance development. In addition, BIDV Tien Giang also focuses on continuously developing these customer groups to increase revenue for many other products and services in the future. 2.2.1.4. Card and POS services: As a service that BIDV Tien Giang has recently developed strongly, it can be said that this is a very potential market and has the ability to develop even more strongly in the future. Card services with outstanding advantages such as fast payment time, wide payment range, quite safe, effective and suitable for the integration trend and the Project to promote non-cash payments in Vietnam. Cards have become a modern and popular payment tool. BIDV Tien Giang early identified that developing card services is to expand the market to people in society, create capital mobilized from card-opened accounts, contribute to diversifying banking activities, enhance the image of the bank, bring the BIDV Tien Giang brand to people as quickly and easily as possible. BIDV Tien Giang is currently providing card types such as: credit cards (BIDV MasterCard Platinum, BIDV Visa Gold Precious, BIDV Visa Manchester United, BIDV Visa Classic), international debit cards (BIDV Ready Card, BIDV Manu Debit Card), domestic debit cards (BIDV Harmony Card, BIDV eTrans Card, BIDV Moving Card, BIDV-Lingo Co-branded Card, BIDV-Co.opmart Co-branded Card). These cards can be paid via POS/EDC or on the ATM system. In addition, with debit cards, customers can not only withdraw money via ATMs but also perform utilities such as mobile top-up, online payment, money transfer,... through electronic banking services. In order to attract customers with card services, BIDV Tien Giang has continuously increased the installation of ATMs. As of December 31, 2015, BIDV Tien Giang has 23 ATMs combined with 7 ATMs in the same system of BIDV My Tho, so the number of ATMs is quite large, especially in the center of My Tho City, but is not yet fully present in the districts. Basic services on ATMs such as withdrawing money, checking balances, printing short statements,... BIDV ATMs accept cards from banks in the system. Banknetvn and Smartlink, cards branded by international card organizations Union Pay (CUP), VISA, MasterCard and cards of banks in the Asian Payment Network. From here, cardholders can make bill payments for themselves or others at ATMs, by simply entering the subscriber number or customer code, booking code that service providers notify and make bill payments. Chart 2.6. Net income from card services in the period 2011-2015 Unit: Million VND 3500 3000 2500 2000 1500 1000 500 0 687 1023 1547 2267 3104 2011 2012 2013 2014 2015 Net income from card services (Source: Report on the implementation of the annual business plan of the General Planning Department of BIDV Tien Giang [24]) Through chart 2.6, it can be seen that BIDV Tien Giang's card service income is constantly growing because the Branch focuses on developing businesses operating in industrial parks, which are the source of customers for salary payment products, ATMs, BSMS. Specifically, there are companies such as Freeview, Quang Viet, Dai Thanh, which are businesses with a large number of card openings at the Branch, contributing to the increase in card service fees [25]. Table 2.6. Number of ATMs and POS machines in 2015 of some banks in Tien Giang area. Unit: Machine STT Bank name Number of ATMs Cumulative number of ATM cards POS machine 1 BIDV Tien Giang 23 97,095 22 2 BIDV My Tho 7 21,325 0 3 Agribank Tien Giang 29 115,743 77 4 Vietinbank Tien Giang 16 100,052 54 5 Dong A Tien Giang 26 97,536 11 6 Sacombank Tien Giang 24 88,513 27 7 Vietcombank Tien Giang 15 61,607 96 8 Vietinbank - Tay Tien Giang Branch 6 46,042 38 (Source: 2015 Banking Activity Data Report of the General and Internal Control Department of the Provincial State Bank [21]) Through table 2.6, the author finds that the number of ATMs of BIDV Tien Giang is not much, ranking fourth after Agribank Tien Giang, Dong A Tien Giang, Sacombank Tien Giang. The number of POS machines of BIDV Tien Giang is very small, only higher than Dong A Tien Giang and BIDV My Tho in the initial stages of merging the BIDV system. Besides, BIDV Tien Giang has a high number of cards increasing over the years (table 2.7) but the cumulative number of cards issued up to December 31, 2015 is still relatively low compared to Agribank, Vietcombank, Dong A (table 2.6). div.maincontent .content_head3 { color: black; font-family:"Times New Roman", serif; font-style: normal; font-weight: bold; text-decoration: none; font-size: 14pt; } div.maincontent .p { color: black; font-family:"Times New Roman", serif; font-style: normal; font-weight: normal; text-decoration: none; font-size: 14pt; margin:0pt; } div.maincontent p { color: black; font-family:"Times New Roman", serif; font-style: normal; font-weight: normal; text-decoration: none; font-size: 14pt; margin:0pt; } div.maincontent .s1 { color: black; font-family:"Courier New", monospace; font-style: normal; font-weight: normal; text-decoration: none; font-size: 14pt; } div.maincontent .s2 { color: black; font-family:"Times New Roman", serif; font-style: italic; font-weight: normal; 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( Source : compiled from www.hsbc.com) [52]

Regarding the operating mechanism of HSBC Holdings, the Board of Directors of HSBC selects the operating regulations for the entire group from the terms and practices combined with management and administration; terms on securities listing, financial management, and transactions. Member companies can decide on their own business activities but must comply with some agreed general regulations.

The Board of Directors of HSBC Holdings has 21 members. The Chairman is the head of the Group, under the Chairman are 2 Vice Chairmen. The Board also includes 1 Chief Operating Officer, 1 Chief Financial Officer and Risk Manager, 1 Advisor and other members who are non-executive directors and non-executive directors representing affiliates of HSBC Holdings.

The Board of Directors directs the entire operations of the group through five main committees: the executive committee, the audit committee, the human resources management committee, the election committee and the social responsibility committee.

HSBC establishes a risk warning and prevention system through decentralization and regulations on responsibility for handling each transaction, establishes a technical warning system through a modern information technology system, and direct control through independent and objective auditing and inspection work. Every year, this group establishes a committee to inspect the implementation of the operating regulations of each group member.

HSBC's main internal control processes include: the process of managing the operations of member companies by setting standards on functions, operations, financial reporting, management of reporting regimes, and types of business of each member; the process of identifying, controlling, and reporting key risks such as credit risk, changes in market prices of financial instruments, liquidity, operational errors, violations of law, and abuse of power; the process of identifying risks arising from changes in market practices or customer behavior; the process of strategic planning for customer groups and global product groups applied to group members annually.

Currently, HSBC, in addition to traditional markets, continues to expand into emerging markets in Asia such as China by diversifying retail and consumer products and services, maximizing core values ​​of financial potential, strengthening network development across continents, developing a global retail customer base and becoming one of the largest banks in the world with the motto "Global bank with local understanding".

1.4.2. Oversea-Chinese Banking Corporation (OCBC)

Established in 1912, OCBC is the third largest bank in Singapore and is quite famous in the financial markets of the Asian region, especially in Singapore and Malaysia. OCBC operates under the parent-subsidiary model with total assets of more than 90 billion USD. OCBC has over 310 branches and representative offices in 15 countries. In terms of scope of operations, OCBC specializes in providing banking, insurance and personal and business loans... mostly focusing on retail banking.