In a recent episode of the Vietnam Innovators podcast, we explored the world of finance with Darren Buckley, Chief Retail Banking Group Officer of Techcombank. With 35 years of banking experience across global metropolises like London, New York, Shanghai, and Tokyo, as well as stints in Southeast Asia, Darren brings a wealth of knowledge and experience. His current role at Techcombank focuses on simplifying banking for customers, allowing them to focus on what truly matters in their lives. Darren emphasized Techcombank’s commitment to seamless, intuitive, and worry-free financial services.
This Vietnam Innovators episode provides a glimpse into Darren Buckley’s insights on Vietnam’s financial landscape and why it’s an exciting place to be for both businesses and investors.
Why not Vietnam?
Darren’s journey in Southeast Asia spans a decade, where he worked in various countries, including Thailand, Laos, Cambodia, Myanmar, and Singapore. During his tenure in Thailand and China, he noticed a compelling trend – institutional clients were redirecting their investments from traditional markets like Thailand and China into Vietnam. This shift intrigued Darren and led him back to Vietnam, a region ripe with opportunities, especially in the wake of rapid digitization. To him, the question arises: why not Vietnam?
Darren’s excitement for Vietnam is palpable. He saw how this burgeoning market is gaining global attention due to its remarkable growth rate. The influx of inward investment and Vietnam’s recognition on the international stage are notable. Recent events, such as VINFAST’s IPO in the US, showcase Vietnam’s potential. Additionally, Vietnam’s demographic profile, with its youthful population, positions it perfectly for growth.
Also Read: How Far Can A 'Why Not?' Take You?
Techcombank’s innovative approach
Darren pointed out that Techcombank’s main competitor isn’t another bank; it’s cash. The drawbacks of cash, including the potential for harboring viruses and bacteria, make a strong case for going cashless. He shared his experience in China, where QR codes and digital wallets replaced cash for everyday transactions, showcasing the shift towards a cashless society.
Techcombank aims to cater to customer preferences by offering various payment options, from wallets and QR codes to innovative technologies like palm payments and facial recognition. Their goal is to become “cashless, cardless, and appless,” always considering what customers are comfortable with.
Techcombank’s Chief Retail Banking Group Officer also highlighted their commitment to bringing the best global innovations to Vietnam, driven by customer feedback and comfort levels. The journey toward innovation continues, with the ultimate aim of providing customers with accessible and convenient ways to manage their finances.
Watch the full episode here: