Techcombank & Databricks modernise banking with data and AI solutions

By Gloria Mathias

Techcombank, Vietnam’s financial institution, has announced that it has implemented the Databricks Data Intelligence Platform to drive its data and AI transformation across the organisation.

This new partnership is part of Techcombank’s investments in digital, data and digital talent under its 2021-2025 transformation plan. This plan enables Techcombank to harness the power of data and AI to create value for customers and drive faster, more profitable growth for the bank.

Over the last 3 years, Techcombank has been consolidating data sources from across the bank and migrating them to the cloud to create a bank-wide ‘data brain’. The migration to the Databricks Data Intelligence Platform will enable Techcombank to unify data more efficiently, improve governance, streamline daily operational analytics pipelines, and use advanced analytics tools and AI to create more meaningful and personalised experiences for customers.

“With over 14.4 million customers and a network of 315 branches, Techcombank processes vast volumes of data across its operations to make customer-centric and data-driven decisions. Databricks provides the technological foundation we need to unify all our data and advance our data analytics and AI capabilities. This will enable us to unlock more advanced AI use cases, enhance the customer experience, and drive business growth,” said Santhosh Mahendiran, Chief Data and Analytics Officer at Techcombank.

Using Databricks, Techcombank’s ‘customer brain,’ a customer 360 tool that centralises all customer data within the bank, provides comprehensive insights that are pivotal for crafting targeted marketing strategies and personalised product offerings. By understanding customer behaviours and preferences at a granular level, Techcombank can offer precisely timed and contextually relevant solutions across digital and physical touchpoints, enhancing customer satisfaction and engagement.

The ‘customer brain,’ which is built in-house, acts as a single-layer orchestration across the bank’s channel. Techcombank plans to centralise further thousands of machine learning features and models on the Databricks platform, driving predictive analytics and supporting its broader digital transformation goals.

“Unifying a vast amount of company data across numerous systems is critical for companies to apply AI and derive data intelligence to deliver meaningful insights for more personalised and tailored services. This positions Techcombank to lead the digital transformation in Vietnam’s banking industry, setting a new benchmark for customer-centric AI-led banking,” said Cecily Ng, Vice President and General Manager of ASEAN and Greater China, Databricks.