Not only strengthening customer engagement through loyalty programs, but MSB and Popplife also aim to create multiple customer touchpoints across each other's platforms.
Customer Retention Strategy
On March 28, in Hanoi, Vietnam Maritime Commercial Joint Stock Bank (MSB) signed a memorandum of understanding with Popplife Joint Stock Company for consulting, developing, and enhancing loyalty infrastructure. This partnership marks a significant milestone in the strategic development of both parties, with the goal of improving customer service quality and retaining loyal customers.
With its expertise in developing technology platforms for customer experience management, Popplife has collaborated with MSB to build an effective loyalty model and journey. This initiative aims to attract customers, encourage them to upgrade their membership tiers, accumulate points, redeem rewards, and engage more deeply with the bank.
At the same time, Popplife will contribute to the development of the loyalty platform and integrate it into the MSB Rewards program. As a result, through the MSB mBank application, customers can easily accumulate points via banking transactions, redeem points for vouchers, gifts, and exclusive offers from both MSB's internal and external partners. Additionally, customers can enjoy even greater privileges as they strengthen their engagement with the bank.
The partnership between MSB and Popplife also allows both parties to enhance customer access across their respective platforms. Customers can conveniently open an MSB bank account directly via the Popplife application. Mr. Phan Khanh Toan, Chairman of the Board of Directors of Popplife, stated, “Collaborating with MSB presents an opportunity for us to showcase our expertise in customer experience consulting within the financial and banking sector. We aim to deliver innovative solutions to optimize services, attract more customers, and contribute to the modernization and digital transformation of the banking industry.
Digital Transformation in Customer Experience
MSB is known as one of the pioneering banks in Vietnam for leveraging technology to enhance customer services. Over the years, the bank has successfully implemented various modern technology solutions, such as the MSB mBanking mobile application with a user-friendly interface, cash withdrawal via codes at ATMs and Smart Teller Machines (STMs), AI-powered customer advisory platforms, and the premium customer care program M-First.
Notably, through the Digi.Sale mobile application, MSB has become a trailblazer in adopting digital technology to accelerate partner connectivity, drive sales, and effectively manage sales performance. These efforts have earned MSB high praise from customers for its digital experience and numerous prestigious awards.
Among these accolades is the Best Digital Transformation Retail Bank in Vietnam award presented by the renowned Global Banking & Finance Review. MSB successfully met rigorous criteria, including digital customer growth, increases in the volume and value of digital banking transactions, notable improvements in the customer journey, and the practicality of digital products and services in the market.
Digital transformation remains a core strategy for MSB in creating a competitive advantage. Within this strategy, digitalizing the loyalty program is a key focus to enhance customer engagement, reduce churn rates, increase customer lifetime value at MSB, and deepen customer insights through loyalty data collection and analysis. Additionally, it aims to lower customer acquisition costs by leveraging loyal customers.
Speaking at the signing ceremony, an MSB representative stated, “MSB is undergoing a strong digital transformation and is committed to delivering diverse and unique digital experiences to customers. Our collaboration with Popplife aligns with our strategy of expanding partnerships to provide a comprehensive ecosystem that fosters customer engagement and growth alongside MSB.