Perfecting Customer Information Security Capabilities in Digital Business

The application is most effective for financial companies with a large existing customer base, sufficient simulation data corresponding to the expected risks and the results of the customer's past loan status, allowing comparison of risk quantification indicators developed by the financial company and applied to new customers, allowing the financial company to improve its capacity and efficiency in analyzing and screening risks effectively. Thereby, detecting and limiting potential risks that affect the customer's ability to repay.

- Automatically detect and prevent loans from subjects that are not in the lending appetite of the affiliated financial companies: Based on input data from government agencies such as criminals with criminal records, Data Mining helps store all input data and perform analysis against loan applications, allowing customers to be rejected right at the application receiving stage. This solution helps affiliated financial companies screen customers early and free up time for reviewing and approving applications. Some algorithms such as K-Means, Support Vector Machine are quite useful in building a platform to detect unusual transactions and compare them with loan applications to eliminate arising credit risks.

4.2.2.3. Perfecting the customer data management system

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The IT system plays a core role in the operations of affiliated financial companies, and needs to be focused on and invested in to create breakthroughs in business operations. A modern, centralized and continuously operating IT system is a strength for financial companies with modest IT human resources to serve customers in all regions with fast and convenient transaction processing speed, and system connection data ensures accurate and secure credit management features. The values created by IT create competitiveness between financial companies. Therefore, affiliated financial companies need to pay attention to investing in IT systems, focusing on deploying a Customer Data Management System. The KHCN data management system is a software system that is set up to allow the management of the entire KHCN database and has outstanding features to provide and analyze information on KHCN behavior, analyze transactions, products provided or suitable for KHCN to support the business exploitation activities of sales staff, is a tool for sales staff to proactively manage all sales activities and is a tool for managers to monitor, evaluate and orient sales activities in accordance with the business strategy of the enterprise. The system developed and put into use will directly contribute to strongly promoting the business activities of financial companies by bringing information technology into the business operation process,

provide tools for the sales force to perform their tasks well. One of the important conditions in addition to the system investment cost, the IT capacity of CTTC... is that to deploy the system, it is necessary to update data and enrich the scientific and technological information daily because clean, correct and sufficient data are prerequisites for the system to record accurate input and output information, from which it is possible to analyze, forecast and make automatic sales suggestions in the future to improve sales capacity while improving the quality of scientific and technological services of CTTC.

Some benefits for users of the customer data management system in CTTC are as follows:

- For sales staff: the data management system helps sales staff have an overview of customer service, understand customer service, and discover customer service needs. Based on available customer service data, sales staff can evaluate the revenue generated by customer service, thereby focusing on exploiting suitable products. Integrating standardized sales processes and documents into the system helps sales staff to conveniently look up. Utilities on the system such as warnings, emails, work schedules, important dates with customers... help support information for sales staff to take the best care of customers, all complaints from customers are tracked on the system and help to handle and respond to complaints to customers as quickly as possible.

- For regional/area directors: The system helps control and monitor the work of subordinates, thereby supporting the timely resolution of subordinates' business problems, closely following the unit's business plan. Scientific and technological information is fully stored, confidential, and easily assigned to scientific and technological tasks in case of changes in personnel in charge. Monitor, evaluate and manage KPIs performance throughout from the vertical axis to direct business services.

- For the Executive Board: help the Executive Board have accurate and timely information to make salary and bonus policies based on the business performance of subordinates. Help the Executive Board deploy business activities promptly, evaluate the effectiveness of each campaign, each product, and region to make timely sales policies and suitable products. Support customer segmentation, evaluation/classification/analysis to obtain information on appropriate campaigns.

- For customers: Thanks to customer information being managed in the form of each customer being managed by a sales staff, customers are taken care of by sales staff in a timely manner. Thanks to historical data or potential customer data, customers enjoy good price policies, use products that suit their needs and receive timely feedback and resolution of problems from sales staff.

Some of the key features of the customer database management system include:

- Customer management: This feature allows sales staff to declare and manage existing customer data, all transaction information with customers such as outstanding debt, transaction history, products customers are using, weekly work schedule and content with customers, history of customer contacts, number and content of complaints from customers.

- Sales force management: this feature allows middle-level managers and above to access (depending on the user authority hierarchy of each person) to manage all sales staff data such as learning process, work process, qualifications, experience, trained skills, sales history, rewards and discipline...

- Potential customer management: this feature allows declaring, extracting and managing potential customer data sets received by CTTC from external information sources such as CIC Center, General Department of Taxation... from which to plan to exploit customers according to corresponding product lines or corresponding sales campaigns.

- Sales campaign management: This feature allows business units to declare, manage and allocate customer lists in each sales campaign, track implementation results with the planned goals of the sales campaign, track incurred costs, and serve as a basis for timely adjustment of campaign parameters according to actual occurrences to achieve the highest goals.

- Sales activity management: This feature allows sales staff to track daily work performance against assigned work goals.

- Assigning tasks and monitoring sales: This feature allows managers to assign tasks right on the system and manage target implementation activities and have a basis for extracting performance evaluations of sales staff in each period.

- Cross-selling management of products and services: allows sales staff to track the results of cross-selling banking products and services to the parent bank based on each specific customer, such as cross-selling deposit products, domestic and international money transfer services... or cross-selling to other members of the group such as insurance, securities... thereby having a basis to record and assign additional cross-selling targets to sales staff during the period.

- TDT product information management: standardizing data on processes, regulations and detailed information about each TDTD product on the system helps sales staff get the most updated information about CTTC's products and services and thereby choose products suitable for CTTC's potential customers.

- Reporting and analysis: the system allows users to extract data for reports based on system analysis. To implement this feature, all CTTC reports need to be standardized to ensure consistency in use.

- Notifications and utilities: Notifications focus on the tasks that sales staff need to handle, the notes that sales staff must monitor and handle to ensure that sales staff will not miss any important tasks during the day. Utilities such as automatic calendars allow sales staff to schedule important days in advance to remind them to perform when the day comes, such as the customer's birthday, disbursement date, debt collection date of each customer, etc.

Depending on the IT capacity and investment level of CTTC, the KHCN database management system can be deployed in stages, but the system deployment is an inevitable solution to help CTTC achieve the goal of safe and sustainable TDTD growth.

4.2.2.4. Improving customer information security capacity in digital business

In implementing business activities on digital platforms, in addition to the benefits brought to customers in terms of convenience and optimal experience, affiliated financial companies need to focus on overcoming potential risks that occur during the process of customers using APP to borrow capital such as customers having their information stolen, applications attacked on mobile devices... The main risks arising from this information security can come from customers in the process of using mobile phones, from affiliated financial companies and third parties. One of the proactive information security solutions is to raise customers' awareness of security. Affiliated financial companies need to proactively communicate about the risk of personal information disclosure, risks customers encounter and security measures to customers. Some security measures such as customers such as setting a password for the phone, not providing the APP application password to others, periodically changing the password, avoiding accessing the phone to websites with a high risk of virus infection...

4.2.3. Group of solutions to protect the reputation and brand of affiliated financial companies and commercial banks

4.2.3.1. Improve service quality

Service quality is still limited in some aspects such as after-sales care, which significantly affects the reputation and brand of the affiliated financial companies. To ensure the provision of professional, high-quality TDTD products to customers, and minimize complaints during and after the sales process, affiliated financial companies need to implement the following solutions:

- Firstly, it is necessary to change the awareness and viewpoint of the affiliated financial companies from " fulfilling the target of TDTD growth in terms of scale and achieving efficiency " to " maximizing customer needs with the best service quality to achieve business goals " to ensure sustainable development in the long term.

- Second, build a set of service quality standards with core values of brand image, facilities, customer comfort, trust, professional staff, available customer care and support services, ensuring operational efficiency. The set of service quality standards needs to be communicated to all staff in the company. Periodically and suddenly, CTTC needs to carry out an assessment of all customer contact stages to grasp the current status of its service quality. In addition, customer surveys on service quality need to be carried out regularly to have an objective assessment, from which affiliated CTTCs can make necessary adjustments to ensure maximum customer satisfaction. The implementation and compliance with the set of service quality standards needs to be included in the KPI of affiliated CTTC staff to ensure maximum compliance. The following are some standards that affiliated CTTCs need to ensure to achieve maximum customer satisfaction:

+ For brand image value: it is necessary to build a separate brand identity, ensuring consistency in the brand image (logo) of the affiliated CTTC on all types of signs such as nameplates, signboards, posters, banners, standees. Publications related to the sign/brand must be complete, clean, not warped, and consistent in color...

+ Facilities: the service introduction point ensures convenience for customers to enter and transact, has full office equipment, office equipment in good working condition, ensures neat, tidy and clean arrangement. Ensure customers have a chair to sit when being consulted about the product, has a notice board to temporarily stop service when there is no staff at the counter for more than 5 minutes. Document storage area

Neatly arranged, numbered documents ensure the preservation and maintenance of customer records.

+ Customer comfort: the attitude of the staff of the CTTC is friendly, attentive, polite, proactive in grasping the needs of customers, proactively explaining to customers about the products, rights and responsibilities of customers, debt repayment schedule... The call center systems are automatically installed to guide customers to the lines that need support. Proactively apologize to customers if the waiting time is long, comply with SLA in transactions with customers. Respect and be patient with customers in all situations...

+ Reliable, safe and accurate transactions: need to warn customers about the confidentiality of transaction information between customers and affiliated financial companies, have a form of information security for customers, ensure readiness to serve customers during working hours, fast and accurate transaction processing speed...

+ After-sales customer care: need to build and provide customer care and guidance tools such as 247 hotline, email, SMS, direct care, chatbot, website... Implement a variety of customer care programs, customer gratitude programs when using the next products. Listen, record opinions and satisfactorily resolve customer complaints based on the principles: timely, fast, effective and decisive.

4.2.3.2. Solutions for responsible lending

In order to protect the reputation and brand of the parent commercial bank and its affiliated financial companies, affiliated financial companies must attach importance to complying with the responsibilities of lenders to help customers understand clearly about loan products, rights and responsibilities of borrowers... thereby minimizing complaints and lawsuits from customers against the company. The following are some responsible lending solutions that affiliated financial companies should apply:

- Develop internal regulations on the responsibilities of lenders, clarifying the responsibilities of lenders at each stage of the credit process, responsible lending entities, methods for measuring the results of responsible lending, and making responsible lending a KPI for entities that need to implement responsible lending. Although current legal regulations require financial companies to be responsible for providing credit contracts and explaining and consulting on the contents of credit contracts to customers. The credit process of financial companies also mentions this content at the sales stage. Stipulating the responsibilities of lenders separately in an independent internal document will contribute to clarifying the responsibilities of financial companies to customers, ensuring effective implementation.

- Implement internal communication programs on responsible lending to help CTTC employees understand responsible lending and implement responsible lending in business operations.

- Develop competition programs on responsible lending to customers, competition criteria must be quantified. For example: reduce 10% of customer complaints and lawsuits during the assessment period related to loan contract content, repayment schedule..., competition results must be evaluated and there must be rewards for groups and individuals who meet the program's criteria.

- Conduct surprise monitoring programs through direct customer interviews or phone calls to record customer opinions on the implementation of responsible lending content by consultants.

4.2.3.3. Improve human resource quality and professional ethics

Human resources with professional ethics and high quality play an important role in ensuring the brand reputation of affiliated financial companies and parent commercial banks. Human resource solutions to ensure the goal of protecting the reputation and brand at affiliated financial companies and parent commercial banks must solve some or all of the following problems: human resources must ensure professional ethics and expertise, improve human resource quality through training, implement preferential policies to retain and create loyalty of competent staff.

First, build and apply a code of professional ethics for staff in CTTC.

The implementation of professional ethics by employees in the financial services industry will contribute to ensuring that the financial services industry's business activities are controlled in accordance with the law and professional standards, thereby developing and protecting the core values of the financial services industry in the long term. The development of professional ethics should focus on five main aspects including basic professional ethics, rules for science and technology, rules for colleagues, rules for management, auditing, and supervision agencies, and rules for competitors.

Second, build a training policy to improve the qualifications of employees.

Most employees want to receive regular training to improve their working skills and develop their capacity for career development opportunities in higher positions, this is especially true for employees working in a high-pressure and changing environment such as the banking and finance industry. For the Executive Board of financial companies, training for employees helps improve the quality of employees, in which training should focus on a number of issues such as:

- Develop an annual training plan for each position including professional knowledge, legal knowledge of banking and finance, procedures and regulations issued by CTTC from time to time, professional ethics and fraud prevention, job skills such as sales skills, telephone skills, customer complaint handling skills... Particularly for the sales staff position, there should be additional basic and specialized annual training courses including communication skills, sales skills and debt collection skills. Human resource training strategies must be based on the principles of "Responsible Lending" according to which all CTTC employees need to be trained so that all activities comply with this principle.

- Flexibly deploy training programs according to each position title. In addition to direct training to help employees grasp knowledge in a short time, indirect training forms such as online training should also be focused on to minimize training costs and training time to help employees update new knowledge as quickly as possible. Online exam programs after training are also a useful tool to help the CTTC Executive Board grasp the level of knowledge update of employees.

- Develop a test bank related to all skills serving the work of employees such as processes, regulations, products, knowledge of the company, management skills, foreign language proficiency, etc.

Third, perfecting the remuneration policy for employees.

Employee compensation policies do not only refer to salary, although salary is still one of the important factors that attract and retain good employees. New perspectives on compensation policies in the world have shown that financial benefits are no longer the top and only concern of employees, but a comprehensive compensation policy including salary, welfare packages that comprehensively meet personal needs, career development opportunities, flexible working hours, employee incentive policies such as rewards, insurance programs, vacations, etc. will help retain and attract good employees. Thus, the affiliated financial companies need to focus on innovating and perfecting the overall compensation policy for employees, especially credit officers, in which the compensation policy should focus on aspects including salary streamlining by rank but expanding the salary range at each rank and paying salary based on work efficiency and actual contribution of employees, comprehensive welfare packages, career development opportunities and effective incentive and reward policies. If this policy is perfected, it will help the affiliated financial companies ensure the maintenance of quality human resources to ensure the growth target of credit institutions.

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