IMPROVING INTERNET BANKING SERVICES OF SAIGON THUONG TIN COMMERCIAL JOINT STOCK BANK, CAU GIAY TRANSACTION OFFICE, DONG DO BRANCH

Professional bachelor degreein Finance-Banking-Insurance Customer relationships management WORK PLACEMENT REPORT IMPROVING INTERNET BANKING SERVICES OF SAIGON THUONG TIN COMMERCIAL JOINT

Professional bachelor degree

in Finance-Banking-Insurance (Customer relationships management)

WORK PLACEMENT REPORT

IMPROVING INTERNET BANKING SERVICES OF SAIGON THUONG TIN COMMERCIAL JOINT STOCK BANK, CAU GIAY

TRANSACTION OFFICE, DONG DO BRANCH.

Names of student: Nguyen Do Huong Linh

University year: 2019 - 2022

Tutor atTMU: Assoc Prof PhD PHAM Tuan Anh Tutor at USTV: Marie-Josée Cambreling Tutor at (Company):Mrs.Nguyen Thi Hong

Hanoi - 2022

TABLE OF CONTENTS

TABLE OF CONTENTS 1

LIST OF TABLES 3

LIST OF CHART 3

INTRODUCTION 1

PART 1: OVERVIEW OF SACOMBANK, DONG DO BRANCH AND THE INTERNSHIP 2

1.1 Sacombank: 2

1.2 Dong Do branch: 2

1.3 Introduction of the internship: 3

PART 2: INTERNSHIP IMPLEMENTATION AT DONG DO BRANCH 5

2.1 The internship position, responsibilities and tasks 5

2.1.1 Department structure and internship position 5

2.1.2 Business procedure and work placement responsibilities 5

2.1.3 Daily tasks 6

2.2 Some business cases 6

2.2.1 Case No1 6

2.2.2 Case No2 7

2.2.3 Case No3 7

2.2.4 Case No4 8

2.3 Service analysis 8

2.3.1 Customer research 8

2.3.2 Competitor analysis 14

2.3.3 SWOT analysis 16

2.4 KPI and KPR 17

2.4.1 Key performance Indicator – KPI 17

2.4.2 Key performance results – KPR 17

2.4.3 Host firm assessment and recommendation 17

PART 3: INTERNSHIP ASSESSMENT 20

3.1 The difficulties encountered 20

3.2 Internship gained 20

3.3 Career plan 20

CONCLUSION 22

APPENDICES 23

PART I: GENERAL INFORMATION 24

LIST OF REFERENCES 27

LIST OF TABLES

Table 1: Internship plan at Sacombank – Dong Do branch 4Table 2: Purpose of using internet banking of customers 12Table 3: Level of customer satisfaction 13Table 4: Maximum transaction limit and daily limit of Internet banking services at banks 14Table 5: Comparison of Internet banking services of Sacombank with other banks 15Table 5: SWOT analysis 16

LIST OF CHART

In the context of Vietnam's deep and wide integration, competition withinternational banks is increasing, one of the major reforms in the profit-seekingstrategy of banks is to increase revenue from banking activities Other businessactivities, besides the two traditional types of business, are receiving deposits andlending To do this, commercial banks need to better exploit profits from non-traditional business services

Currently, the non-traditional business services of commercial banks are verydiverse These can be mentioned as ATM services, home banking, phone banking However, as the Internet becomes more and more popular and important to everyone,e-banking services are becoming more and more important for banks to exploit forprofit Not only that, this type of service is also a useful tool to help banks quicklyassert their name

Grasping that trend, Saigon Thuong Tin Commercial Joint Stock Bank has beenmaking efforts to catch up with the process of banking modernization, not onlyperfecting traditional operations but also focusing on developing applications, usingmodern banking, including Internet Banking However, the development of InternetBanking of Sacombank still has difficulties and limitations The urgent issue now isfinding a way to successfully develop this service, helping the bank affirm its positionand brand as a pioneer in technology application

PART 1: OVERVIEW OF SACOMBANK, DONG DO BRANCH AND THE

INTERNSHIP

1.1 Sacombank:

● Name: Saigon Thuong Tin Commercial Joint Stock Bank

● Slogan: “Accompanying development”: The content of the slogan is quite

simple and easy to understand for everyone "Accompanying" with the desire thatcustomers accompany the business to develop When choosing to use Sacombank'sservices, it is choosing to accompany the company and develop together

● Location: Head office: 266 - 268 Nam Ky Khoi Nghia, Vo Thi Sau Ward,District 3, City Ho Chi Minh City

● Number of employees: 18,500 people

● Date of creation: 21/12/1991

● Sacombank officially came into operation with an initial charter capital of 3billion VND with the merger of Go Vap Economic Development Bank with 3 creditcooperatives Tan Binh, Thanh Cong and Lu Gia

● Establishment license: Issued by the City People's Committee Issued by HoChi Minh on April 3, 1992

● Business registration certificate: Issued by the Department of Planning andInvestment of Ho Chi Minh City

● Location: 363 Hoang Quoc Viet, Cau Giay, Hanoi

● Number of employees: 50-99 employees

● Date of creation: 15/02/2008

● Range of products: Print account statement, Money tally, Payroll in batches, Card service, Replace renew card, Property management, Loan service, International banking services

● Phone: +848 39 320 420 Fax: +848 39 320 424

1.3 Introduction of the internship:

● Why the topic:

According to Sean Valant's "A Day in the Life of the Internet" summary, as ofSeptember 2013, there are about 2.4 billion internet users in the world, an increase of566% compared to 2000 Also according to the report In this case, 50.1% of users usethe internet for banking services In recent years, especially in Vietnam, the electronicpayment market has undergone rapid development In the third quarter of 2012,according to research by IDG-BIU (Business Intelligence Unit), the number of peopleusing Internet Banking services increased by 35% compared to 2010

The development of electronic banking in general and Internet Banking(iBanking) in particular is one of the most effective solutions to increase thecompetitiveness of banks, diversify products, increase convenience and speed SaigonThuong Tin Commercial Joint Stock Bank (Sacombank) also started developing e-banking services in 2005 to meet the needs of customers, making the bank the leadingretail bank in Vietnam

Therefore, in order to have an overview of e-banking services, specificallyInternet Banking of the bank as well as propose solutions to improve service quality, Iwould like to choose the topic: Improving Internet banking service of Saigon ThuongTin Commercial Joint Stock Bank, Cau Giay transaction office, Dong Do branch

● Internship plan:

Table 1: Internship plan at Sacombank – Dong Do branch

Having basic knowledge of internet banking services, know the process of performing transactions of the service

- Learn how to negotiate with customers

- Improve customer problem solving skills

of Sacombank in internet banking services

From: 25/04/2022

To: 15/05/2022

Task 4 / Mission 4:

Conduct customer surveys and analysis

From the survey results, I know the satisfaction level of customers when using internet banking services

- Knowledge of Internet banking services

of Sacombank

- Identify career plans in the near future

PART 2: INTERNSHIP IMPLEMENTATION AT DONG DO BRANCH

2.1 The internship position, responsibilities and tasks

2.1.1 Department structure and internship position

● Department structure:

Chart 1: Organizational chart of Sacombank- Dong Do branch

(Sources: Official website of the bank)

● Internship position: intern in personal customer care – Cau Giay transactionoffice

2.1.2 Business procedure and work placement responsibilities

Perform reception, greeting as well as learn the needs of customers

Consulting and supporting customers when in need of internet banking productsand services

Introduce new products and promotions to customers when using the service.Collecting opinions, explaining and guiding customers to resolve comments andquestions within the permitted scope In case you can't solve it yourself, you need tomake suggestions to your superiors for support Receive and resolve customercomplaints

Support and help customers to perform transactions on banking products andservices such as transactions, account opening, account management, payment, moneytransfer, bill payment,

Support customer care, ensure to always keep the standards, quality as well asregulations on customer care of the bank

Expand relationships, help, take care of customers to direct customers to useother products

2.1.3 Daily tasks

Manager

3 deputy directors

Business Department International Payment Department Currency trading department Bussiness Department

Risk control department

Accounting and fund department Trading department

Administrative department

Accounting department

8 transaction offices

 From 08:00 A.M to 11:00 A.M:

- Welcoming and understanding the needs of customers

- Receive and handle customer requests/inquiries related to the bank's internetbanking services

- Introducing the bank's attractive promotions and incentives when customers usethe service

- Help employees in setting up customer profiles

 From 01:30 P.M to 05:00 P.M:

- Receive and manage customer complaints and issues to be resolved and provideinformation to the appropriate departments to handle such complaints

- Filter customer's bank card and check customer information

- Get the signature and seal of the branch manager for each client document

- Make a report on the number of customers transacting in the day

2.2 Some business cases

- Monthly income: 5 million / month

Customers who want to open an internet banking account

 Information Services:

- Name: Internet banking

- Type: Register for internet banking service

● Negotiations and result:

- Negotiation: The intern has filled in the available information in the form andwaits for the account activation At the same time, introduce promotions whencustomers use the service, answer customer questions about the service Then, thetrainees introduced more to customers how to register for internet banking serviceonline through the official website of the bank and guide to install the bankingapplication on the phone

- Result: Customer successfully opened an account and was satisfied with theservice quality

2.2.2 Case No2

- Monthly income: 15 million / month

Customers complain about transferring money to acquaintances but they have notreceived it even though the customer's account has been deducted

● Information Services:

- Name: Internet banking

- Type: Bank Transfer

● Negotiations and result:

- Negotiation: Interns check the customer's transaction history, contact therelevant department to confirm whether the transaction was successful or not Afterchecking and confirming, the intern informs the customer that the transaction wassuccessful, but the bank's system is having some minor problems so the money has notbeen transferred to the recipient The intern apologizes to the customer and ensuresthat the problem will be fixed in the shortest time

- Result: The customer agrees and requires the bank to give a specific notice forsimilar cases

- Monthly income: 20 million / month

The customer mistakenly transfers a large amount of money to a stranger andasks the bank to assist in a refund

 Information Services:

- Name: Internet banking

- Type: Bank Transfer

● Negotiations and result:

- Negotiation: The intern checks the customer's transaction, confirms that thecustomer's account has been deducted, but there is no proof that the money transferredwas unintentional or intentional by the customer The intern explained and apologized

to the customer because the bank refused to refund in this case In addition, the interncontacted the relevant department to provide information about the recipient of themoney to the customer to exchange for a refund

- Result: Customer agrees and thanks the bank's support

- Monthly income: 10 million / month

Customers who want to open an internet banking account

 Information Services:

- Name: Internet banking

- Type: Open an account

● Negotiations and result:

- Negotiation: The intern guides the customer to fill in the information form, thenasks the customer to present his/her identity card, but the customer's identity card hasbeen lost before and is waiting for re-work Customers have brought a copy of their IDcards before, but banks asked for original ID cards and refused to open accounts

- Result: Customers go home without using the service

2.3 Service analysis

2.3.1 Customer research

Survey start time: from April 25, 2022 to May 15, 2022

- Duration: 3 weeks

- Total number of surveyed Internet banking customers: 150 customers

But only 100 votes were successful, the remaining 50 failed due to many reasons

(Source: taken from survey results)

Chart 2: Gender

Comment: The total number of survey samples is 100, in which, femalecustomers account for a higher proportion Specifically, the number of male customersaccounting for 38%, the number of female customers accounting for 62% This showsthat the need to use internet banking is higher among female than male

● JOB:

(Source: taken from survey results)

Chart 4: Job

Comment: Looking at the results, the customers using the service are mostlyoffice workers and civil servants with stable income, accounting for 46% Followed bystudents, students with the rate of 27% Finally, there are traders, entrepreneurs andworkers, farmers with 15% and 12% respectively

20 million, 11% have an income of 20 to 30 million and 20% have an income less than

5 million

● CUSTOMERS

(Source: taken from survey results)

Chart 6: Customers

Comment: Mainly customers who sign up for Internet banking service packagesare individual customers, accounting for 80% of the total Corporate customersaccount for only 11% and 9% of registered customers for both categories

● MEDIA CHANNELS:

(Source: taken from survey results)

Chart 7: Media channels to help customers know about Sacombank’s internet

banking services

Comment: Customers know about internet banking service through manysources The most is through the mass media with the rate of 31% Next is throughreferrals from relatives and friends, at the bank’s transaction counters and through thebank’s website with the rates of 25%, 24%, and 20% respectively This shows thatSacombank should promote its products in the media to reach customers in the easiestway

● PURPOSE:

Table 2: Purpose of using internet banking of customers

Updating information on fee schedule, exchange rate, interest rate 25%

(Source: taken from survey results)

Comment: Based on the above table, we see that customers often use internetbanking for many different purposes, but mainly for transferring money and checkingaccount balances, accounting for 89% and 74% respectively After that, bill paymentactivities accounted for 45%, loans accounted for 21% and activities used to updateinformation on fee schedules, exchange rates and interest rates accounted for 25%

● CUSTOMER SATISFACTION

Table 3: Level of customer satisfaction

Completel

y disagree

Disagree

Neutral

Complel

y agree

AgreeSacombank’s internet banking service

Website transactions are stable, no

Transactions in internet banking

service are performed exactly as

committed by Sacombank

Sacombank notifies you when the

Access and transactions on

The facilities in Sacombank’s internet

Simple transaction process

Sacombank’s employees are always

ready to help when customers have

requests

Sacombank always clearly discloses

the current regulations and procedures

for internet banking transactions

Fees for using internet banking services

Sacombank has good incentives and

promotions for customers when using

the service

(Source: taken from survey results)

Comment: Through the above assessment, we can see that customers are quite

satisfied with Sacombank's internet banking service, the level of service satisfaction

accounts for nearly half On the other hand, the percentage of customers who feel not

really satisfied with the security, access speed, stability of the transaction website,

transaction fees and incentives when using the service is still quite high (> 20 %) This