Quality of digital banking services for individual customers at Joint Stock Commercial Bank for Foreign Trade of Vietnam

MINISTRY OF EDUCATION AND TRAINING

FOREIGN TRADE UNIVERSITY

MASTER'S THESIS

QUALITY OF DIGITAL BANKING SERVICES FOR INDIVIDUAL CUSTOMERS AT THE BANK

VIETNAM FOREIGN TRADE JOINT STOCK COMPANY

Industry : FINANCE - BANKING

Code : 83.40.201

NGUYEN THI NGOC THU

MINISTRY OF EDUCATION AND TRAINING

FOREIGN TRADE UNIVERSITY

MASTER'S THESIS

QUALITY OF DIGITAL BANKING SERVICES FOR INDIVIDUAL CUSTOMERS AT THE BANK

VIETNAM FOREIGN TRADE JOINT STOCK COMPANY

Industry : FINANCE - BANKING Code: 83.40.201

Student's name : Nguyen Thi Ngoc Thu Instructor: Associate Professor, Dr. Dao Ngoc Tien

COMMITMENT

I hereby declare that this thesis is the result of my personal study and research. The views expressed in the thesis are my personal views. The data and research results in the thesis are honest and have clear sources.

Thesis author

Nguyen Thi Ngoc Thu

Maybe you are interested!

THANK YOU

I would like to sincerely thank the Board of Directors of Foreign Trade University, the teachers in the Graduate School and the Faculty of Finance and Banking for their dedication in imparting knowledge during my study. The acquired knowledge is not only the foundation for the research process but also a valuable asset for future work. In particular, I would like to express my sincere and deepest gratitude to Associate Professor, Dr. Dao Ngoc Tien, who directly guided, contributed and provided useful knowledge throughout the research and completion of the thesis.

“ I would like to sincerely thank the Head Office and Hoang Mai Branch for helping me compile data throughout the research process and completing my thesis. I would like to sincerely thank my family and friends for their dedicated help and support throughout my studies and research. ”

Finally, I wish you good health and success in your career.

Thank you very much!

Hanoi, date month year

Thesis author

Nguyen Thi Ngoc Thu

SUMMARY OF RESEARCH RESULTS

In Chapter I, the author presented the general issues and provided concepts of digital banking services for individual customers at commercial banks. From there, the concepts of digital banking service quality for individual customers at commercial banks were presented. Evaluation criteria include: information quality, reliability, ease of use, security, response time, design features. Influencing factors are divided into 2 types: factors belonging to the bank

commerce, factors outside commercial banks. In addition, Chapter I also provides experiences in improving the quality of digital banking services for individual customers at commercial banks and lessons for Vietcombank.

In Chapter II, the author introduced an overview of the Joint Stock Commercial Bank for Foreign Trade of Vietnam, the bank's organizational structure and delved into each evaluation criterion to analyze the current situation through the collected data. In the current situation section, the digital banking products and services that Vietcombank provides to individual customers will be introduced. Then, based on the criteria given in Chapter I and the collected data, the current situation of digital banking service quality for individual customers at Vietcombank will be analyzed. From there, assessments, achievements, limitations and causes of those limitations are made.

In Chapter III, the author has provided orientations and goals for improving the quality of digital banking services for individual customers, and proposed solutions to improve the quality of digital banking services for individual customers at Vietcombank. Solutions for investing in infrastructure development and upgrading modern technologies, service utilities, product prices, customer care, human resources, communications and brand protection. From there, recommendations are made to the Government, the State Bank, the Napas payment service, and relevant ministries and branches as a basis for Vietcombank's digital banking services to develop stably and sustainably.

INDEX

ACKNOWLEDGEMENTS

LIST OF TABLES AND FIGURES

INTRODUCTION 1

CHAPTER I: BASIC THEORIES ON THE QUALITY OF DIGITAL BANKING SERVICES FOR INDIVIDUAL CUSTOMERS 8

1.1. Overview of digital banking services for individual customers at commercial banks 8

1.1.1. Overview of digital banking services 8

1.1.2. Concept and characteristics of individual customers of commercial banks 14

1.1.3. Digital banking services for individual customers 15

1.2. Quality of digital banking services for individual customers at commercial banks 20

1.2.1. Concept of digital banking service quality for individual customers 20

1.2.2. Criteria for evaluating the quality of digital banking services for individual customers 21

1.2.3. Factors affecting the quality of digital banking services of commercial banks 23

1.3. Experience in improving the quality of digital banking services for individual customers at commercial banks and lessons for Vietcombank ...25

1.3.1. Experience in developing digital banking services for individual customers at some foreign banks 25

1.3.2. Experience in developing digital banking services for individual customers at some joint stock commercial banks in Vietnam 28

1.3.3. Lessons for Vietcombank 30

CHAPTER II: CURRENT STATUS OF DIGITAL BANKING SERVICE QUALITY FOR INDIVIDUAL CUSTOMERS AT JOINT STOCK COMMERCIAL BANK FOR FOREIGN TRADE OF VIETNAM 32

2.1. Overview of Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank)

................................................................ ................................................................ ................32

2.1.1. The formation and development process of Vietcombank 32

2.1.2. Organizational structure of Vietcombank 36

2.1.3 Vietcombank's business results from 2016 - 2020 38

2.2. Current status of digital banking services at Vietcombank

………………………………………………………………………………..39

2.2.1. Digital banking products and services that Vietcombank provides for individual customers 39

2.3. Current status of digital banking service quality for individual customers of Vietcombank 48

2.3.1. Design characteristics 48

2.3.2. Information quality and reliability 51

2.3.3. Ease of use 53

2.3.4. Security 54

2.3.5. Response time 58

2.4. Assessment of the current status of digital banking service quality for individual customers at Vietcombank 60

2.4.1. Results achieved 60

2.4.2. Limitations 61

2.4.3. Causes of limitation 62

CHAPTER 2 CONCLUSION 67

CHAPTER III: SOLUTIONS TO IMPROVE THE QUALITY OF DIGITAL BANKING SERVICES FOR INDIVIDUAL CUSTOMERS AT BANKS

VIETNAM FOREIGN TRADE JOINT STOCK COMPANY 68

3.1 Orientation and goals for improving the quality of digital banking services for individual customers at Vietcombank 68

3.1.1. Orientation to improve the quality of digital banking services for individual customers of the banking system by 2030 68

3.1.2. Orientation and goals to improve the quality of digital banking services for Vietcombank's individual customers by 2025 70

3.2 Solutions to improve the quality of digital banking services for individual customers at Vietcombank 74

3.2.1. Investing in infrastructure development and upgrading modern technologies 74

3.2.2. Product development policy solutions 77

3.2.3. Customer care solutions 78

3.2.4. Human resource solutions 79

3.2.5. Brand communication and protection 80

3.3. Recommendation 82

3.3.1. For the Government 82

3.3.2. For the State Bank 84

3.3.3. For banking association 85

3.3.4. For Napas 86

3.3.5. For Ministries and branches 87

CHAPTER 3 CONCLUSION 88

CONCLUSION 89

Quality of digital banking services for individual customers at Joint Stock Commercial Bank for Foreign Trade of Vietnam - 1

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