Final report mb bank application course title mobile commerce

The VinID app allows users to book airline tickets, entertainment center tickets, soccer match tickets and pay customers directly from the app..VinID, 2021 M-commerce business model of p

MINISTRY OF EDUCATION AND TRAINING

HCMC UNIVERSITY OF ECONOMICS AND FINANCE

Tran Cong Hieu_205120238

Nguyen Duy Hung_ 205120267

Pham Tran Gia Hung_ 195120049

Nguyen Ngoc Phuong Trinh_195120156

Ho Chi Minh City, 10/2022

MINISTRY OF EDUCATION AND TRAINING

HCMC UNIVERSITY OF ECONOMICS AND FINANCE

Tran Cong Hieu_205120238

Nguyen Duy Hung_ 205120267

Pham Tran Gia Hung_ 195120049

Nguyen Ngoc Phuong Trinh_195120156

Ho Chi Minh City, 10/2022

ACKNOWLEDGE

Our group who conducted this research gratefully gives acknowledgment their support and motivation during the time of doing this research as a requirement of completing our course First of all, we would like to express our endless thanks and gratefulness to our lecturer - MBA Dang Thi Thu Hang Her kind support and continuous advice went through the process of completing of our report Her encouragement and comments significantly enriched and improved our work Without her motivation and instructions, the report would have been impossible to be done effectively As a part of the project: MB bank- banking application, our report has been done by the contribution of all members of the group

We also acknowledge my thankfulness to the Faculty of Information Technology for our creating this subject We would like to state our thanks to the University of Economics and Finance which supported infrastructure for studying, researching, and providing us with opportunities to complete the course completely Our special thanks

to our parents for their endless love, and care and have given us the most assistance and motivation for us the whole of our life Lastly, our deep thanks come to all our friends during the time we study in UEF Their kind help, care, and motivation gave us strength and lifted us up from all the trouble for the rest of our life

My team sincerely thank you!

ABSTRACT

The increased cooperation and participation in international labor not only increases the exchange of goods in the country but also makes the exchange of goods and services between developed countries The economic and political relationships have given rise to the monetary relations of countries with each other

MB Bank App, with the responsibility of being a financial intermediary, are an important capital conduit for the entire economy In a fiercely competitive environment, completing and expanding business activities is the direction and motto for banks to survive and develop Real consumer lending is no longer a new concept in Vietnam, but

it has not received adequate attention from the people, while in the world consumer lending has been very developed and has become a major source of income for banks row

In this paper, we study the following issues:

1 Overview of MB bank and MB bank application including market, finance, organizational structure

2 Analyze and evaluate activities including user experience, revenue model,

business model, SWOT, marketing mix 4P's, CRM, interface, security

3.conclusion and offer comprehensive application development solutions Due to the limited practical knowledge and qualifications, errors cannot be avoided in this project, so my team would like to receive your guidance and enthusiastic comments to point out the mistakes that our group has made, so that when we have the opportunity to do another essay, we can learn from the experience and complete the report as well as possible

TABLE OF CONTENTS

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2.1 History Development of MB Bank - Ăn ng 12 NV, 2P s20 v00 nh 13

2.3 Logo Identificaton- Meaning of MB Bank's LOGO - c+<e2 14 °“ 0N Ps.o 0 14

PIN .9o n n ố 14

P li ốổ nối on 15

PS Nhi 9000 15

2.5.1 Company Ôwn SFUCfUTC s5 sọ ng ng ng 15 2.5.2 Ownership structure of MB Bank - «sen 15 2.5.3 EHinancial structure of MB Bank . - s5 nen 16 2.6 Member companies Of MÌH - << HH ng 16 2.7 MBB's total assets compared to the whole Indusfry -« «<< << 17 2.8 Board of Directors Member of the Board of Directors of MB Bank 18

3 Overview of MB Bank Äpp -. HH nh ng 19 3.1 Download the App and Register for the MB Bank App .- 19

3.2 The main features of MB Bank appliCatIO: . << << 20 3.3 User OXPerienCe 22

4 COITẨIẨOTS G- Gì họ vn 22 bà ¡ca 25

An 26

HC 0ố v08 hố 27

TL COMI 27

°àn, 35

Ea 35 E6 37

4.3.3 User's abiÏIfV fO T€UTTI - G Yggg ng ng ngg 43 4.3.4 Feedback and COImTN€IIK - 5 - G5 +1 1 5 9 9 9 1 9 3 9 1 9 gen 45

5 Cusfomer relationship management- CRRÌM - sen 49

ho nh hố 49 5.2 CRM model of MB bank 49

“` ` 49

1b Ÿ canh 50

“` 51

b9 7a 52

GO Interface oo 53

HA šZà na he 54

“7.1 Internet banKinØ - << s1 HH TH tre 54 77.2 QR paymenf SYSf€T Án re 55 H5 56

Linh) 57

BL Strengths oo 58

CPU) TA 59

RE N09) 30)0000)0 1n 60

6.4 THCAÍS Họ TH Họ Họ Họ ng 61 LN cv an 62

9.1 Transaction confirmation with TP smart Banking code - 62

9.2 Confirm customer identity by QR code oo eee eeeecseeceeeceeeceeeceeeeneeeseeenes 62 9.3 Using eKYC to IdentiẨY consumerS OnÏITiG - 55-5 55+ «>> sessses 63 9.4 Card management with facial ID and fingerprinI - «<< s«<ss«+ 63 9.5 SSL/TLS standard internet connectiO' S€CUTI{Y - s55 seseses 63 9.6 Automatically lock the appÏiCafIOH - .- <5 << 11v S9 9 ng ry 64 0199) i900.)009) 0 65 4585045019-077 G7

TABLE OF FIGURES

Figure 1- VinID application of Vingroup (VinÏl) -. ccccsnxnnngngnree II Figure 2- Logo Image (MB bank,2222) - 5 - s1 19 1.1 ng ng 14 Figure 3- Company Ôwn Structure (cafef.vrn, 2Ö22/2) - cong ng gen 15 Figure 4- MBB's total assets compared to the whole industry (cafef.vn, 2022) 17 Figure 5- MBB's total assets are in the middle range compared to the whole industry 4i» i0,-3i 1727/2211 17

Figure 7- MB bank Application (MB Bank, 2Õ222) - - <5 k1 v S9 kg re 19 Figure 8- download MB bank app (MB ban) - 5 s1 ve 19 Figure 9- Steps to create MB Bank account (MB bank, 202 Ï) « - «+ 20 Figure 10- View account balance check card list (MB Bank app) - - 21 Figure 11- News “MBBank app makes Apple Store ‘Top Apps of 2021’” (vnexpress,

"2001 22 Figure 12- the number of downloads on google Play (Google Play, 2022) 23 Figure 13- Top 10 banks with the largest total assets in 2021 (Vietnambiz.vn, 2021) 25 Figure 14- Market share of bank cards in Vietnam 2021 (cafef.vn, 2021) 0.0.00 26 Figure 15- Infrastructure (TheBank, 22 Í) .- <3 HH HH ng 28

Figure 17- Business model of MB Bank (Hootsuite, 22 Ï) - << <++<se<sse 30 Figure 18- Web Catalog Revenue Model (mbbank.com) . «<< s«<s«+ 31 Figure 19- Services of Internet Banking (mbbank.comm) . -« «<< sex sessse+ 32 Figure 20- Fee-for-transaction revenue models (MB bank, 2022) - «<< 33 Figure 21- Subscription to advertising supported model (MB bank) - 34

Figure 23- Promotion (UEEF, mb bank, 22 Ï) . - - + << +3 v19 19 1 ng sư 38 Figure 24- Step to collect customers experiment (TOUp ˆ7) . «+ scs«ssessses 40 Figure 25- Responding about the convenience of app (Source: Group 7) 41 Figure 26- Responding about the promotion of app (Source: Group 7) 42 Figure 27- Respond about User's ability to return (Source: Group 7) 43 Figure 28- Rating on CH play of MB bank (CHÍ Play, 2022) . - «<< <<s« 45

Figure 29- Rating on app store of MB bank (App store, 2022) .- «<< c++5 45 Figure 30- Positive feedback about MB bank app (CH Play, 2022) - 45 Figure 3I- Negative feedback about MB bank app (CH Play, 2022) 46 Figure 32- Cannot transaction error (facebook fanpage , 2022) . «- 46 Figure 33- Cannot login error (facebook fanpage , 2022) 0.0 see eseeseeeseeeseeeseeeseeeeee 47 Figure 34- Maintenance error (facebook fanpage , 2Ö22) se 47 Figure 35- Late in response of host (facebook fanpage , 2022) c «<< + 47 Figure 36 Relationship of CRM with result (a* , 2220) ng ng ng re 49

Figure 38- MBbank and MB Bank app (MB ads, 20119 ) SH se 50 Figure 39- MB ads with latest news- Petro outsold event (Internet, 10/2022) 50 Figure 40- Free account number registration coincides with phone numbers service (MB AAS, 2019) 52 Figure 4I- MB bank page on facebook(Facebook cap, 2022) . -« «<< <++s 53 Figure 42- Application of MB Bank app at fñst 2018 (2Mobi.vn, 2018) 54 Figure 43- Application of MB Bank app now (Nguoilamtaichinh.com, 2022) 54 Figure 44- QR payment in mobile app(Kinhtedothi News, 202l) - 56 Figure 45- E-wallet payment(MlBinternetpayment, 2O Ï'9) -.- se 57 Figure 46- announcements problem (MB Bank app, 20222) . + << << +s+ 60

TABLE OF TABLES

Table 1- Development timelines (MB bank, 2021) eee eseeceeeceeececeeeceseeeeseeeesaes 13 Table 2- Member companies of MB (MB bank,2022) - - <5 cv gen 16 Table 3- Compare with another bank”s app (TheBank, 202 Ï) - - «<< «+ 23 Table 4- Table of Services (MB Bank, 202/2) . 5L S9 1 vn ngư 29 IEl) in 0ì i-ái 200.ioÀ, 07/2000 36 Table 6- Account managemenr fee (IIimo.vn, 22 Ï ) . - 55+ +<sss+s + ssvsssse 36 Table 7- Transfer Internet/Mobile Banking fee (Timo.vn, 2022) . <<s5 37 Table 8- User survey quesfionnaire review (GTOU ˆ7) - ng gen 40 Table 9- User experience analysIs (CTOU 7) - - 5 5 ng ng ngư 44 Table 10- Table of evaluation of customer experlence (Group 7) .« « 48

10

A INTRODUCTION

1 Mobile commerce

Mobile Commerce (M-Commerce or mcommerce) is a business model that allows companies to distribute products/services and transact directly with consumers via wireless devices

More specifically, e-commerce transactions including purchase - sale, payment, advertising and shipping are almost all carried out on mobile phones and tablets with

At present, mobile phones are considered by many people as "an inseparable object" The strong development of mobile commerce applications promises many business opportunities

Some good examples of smart apps that have integrated m-commerce into their business strategy to enable the process of electronic transactions

Figure 1- VinID application of Vingroup (VinID)

II

The VinID app allows users to book airline tickets, entertainment center tickets, soccer match tickets and pay customers directly from the app (VinID, 2021)

M-commerce business model of providing products/services to users via the Internet and in commercial or non-commercial sectors.(matbao.net, 2021)

- Device: Wireless technology such as mobile phones, tablets

- Format: phone app, mobile website, facebook call button, forum, website,

- Security: Depends on website and smartphone security

- Customer positioning: can be localized

- Payment methods: credit card, mobile banking Size: compact, no frills, easy

to carry anywhere, use it anytime, anywhere, anywhere

- Range: Universal for ease of use, portability and offline access

- Cost: Pay a lot to build mobile apps and use mobile data

2 Overview of MB Bank

MB Bank defines to Military Commercial Joint Stock Bank, or Military Bank

or MB Bank for short This is a joint stock commercial bank of Vietnam, an enterprise

of the Vietnam People's Army under the Ministry of Defense

MB Bank is considered to be one of the strongest banks because its starting point

is amilitary bank Over nearly 25 years of construction and growth, MB has grown and grown to become a versatile financial group with MB's parent bank in Vietnam &

potential that has made this company a customer interested from the early days in the market

In Q2,2022, the bank's charter capital was VND 37,783 trillion, the bank's total

assets were more than VND 658 trillion (cafef.vn, 2022)

2.1 History Development of MB Bank

MB is a financially sound, strong management, transparent information, convenient and pioneering service provider to realize its mission, an organization, a solid partner, trust During the process of formation and development, under the leadership and direction of the Central Military Commission - Ministry of Defense, the

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State Bank and enthusiastic support and assistance of concerned agencies; units inside and outside the army (MB bank,2022)

Military Commercial Joint Stock Bank (MB) promoted the good nature and

glorious tradition of soldiers on the economic front; solidarity, initiative, creativity, self-

reliance, self-reliance, overcoming difficulties, improving the quality of operations, bringing the best banking products and services to individuals, economic organizations and enterprises across the key provinces and cities of the country, contributing to boosting the economic development of Vietnam in general and improving the business efficiency of the banking sector in particular (MB bank, 2022)

2.2 Development timelines

Table 1- Development timelines (MB bank, 2021)

November | The bank officially went into operation with an initial charter capital

A 1994 of 20 billion VND with 25 employees

In 2000 | Thang Long Securities Company Limited was established (now MBS Military Bank Securities Joint Stock Company) and Military Commercial Bank Asset Management Company (MBAMC)

In 2006 | Ha Noi Securities Investment Fund Management Company (HFM) was established (now MB Capital Military Bank Investment Fund Management Joint Stock Company) Successfully implemented the CoreT24 information technology modernization project of Temenos Group (Switzerland)

In 2010 | Opened the first branch in foreign country (Laos)

In 2011 | Successfully listing shares on the Ho Chi Minh Stock Exchange (HSX) from November 1,2011 Opened the second overseas branch (Cambodia) Successfully upgraded CoreT24 system from R5 to RI0

- The text: MB Bank uses 2 letters M and B which are the abbreviations of the brand name combined with the uppercase font on the logo to bring simplicity but still full meaning of the name of the bank, also showing solidity for the brand 2.3.2 Logo Color

Bank

- Blue and white: MB Bank uses these two colors for the text in the logo, blue represents hope and development, moving forward firmly into the future, putting customers’ interests first, white Show transparency and clarity in all activities of the brand

14

VISION MISSION

the sake of customers

CORE VALUES Unity - Discipline - Dedication Performance-driven - Reliability — Efficiency

2.5 Finance Of MB Bank

2.5.1 Company Own Structure

TEN CO DONG TY LE

Tổng Công ty Trực thăng Việt Nam - Công tyTNHH 7.39%

Công ty TNHH MTV - Tống Công ty Tân CảngSà N— ;+zœ

Công ty TNHH Nhà nước MTV Thương mại và Xuat 9 3.05%

Figure 3- Company Own Structure (cafef.vn, 2022)

2.5.2 Ownership structure of MB Bank

¢ Military Industry and Telecommunications Group (Viettel): 14.01%

¢ State Capital Investment Corporation (SCIC): 9.34%

¢ Vietnam Helicopter Corporation - Company Limited: 7.39%

s One Member Limited Liability Company — Saigon Newport Corporation: 7.14%

* Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank): 4.42%

* Viettel Trading and Import-Export One Member State Company Limited: 3.05%

15

2.5.3 Financial structure of MB Bank

* Total income: 36,934 billion VND (in 2021)

* Profit: 13,221 billion VND (in 2021)

* Total assets: 007,140 billion VND (December 31, 2021)

¢ Charter capital: 37,783 billion VND (December 31, 2021)

¢ Market capitalization: 125,818 VND billion (February 2022)

Cần vay, được ngay

English name: MB Shinsei Finance Limited Liability Company

Short name: MS Finance

Link website: www.mcredit.com.vn

xs MIC English name: Military Insurance Corporation Short name: MIC

Link website: www.mic.vn

MB agea

Short name: MBAL Link website: https://mbageas.life/

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2.7 MBB's total assets compared to the whole industry

TONG TAI SAN CUA MBB SO VO! TOAN NGANH

BID

CTG

VCB AGRIBANK

scB

DAE 7p VAB \ BỨC rom VBE

(*) Sô liệu so sánh tính theo kỳ báo cáo gân nhât

Figure 4- MBB's total assets compared to the whole industry (cafef.vn, 2022) MBB's total assets are in the middle range compared to the whole industry:

bonv:lydổng ET BIDS

weunsank©

oi ko F‹«ẶẶằš$š£ẶẮx4.pa:aa

Thành viên HDpQT Thanh vién HDQT Thanh vién HDQT Thanh vién HDQT

BA NGUYEN THỊ THỦY ONG TRAN TRUNG TIN BÀ VŨ THÁI HUYỀN

Thành viên HĐQT Thành viên HĐQT độc Thành viên HĐQT

Figure 6- BOD (MB bank,2022)

MB Bank's Board of Directors consists of 11 members, including 1 Chairman, 3

Vice Presidents, including 2 Independent members

¢ Vu Thai Huyen - Independent member

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3 Overview of MB Bank App

MB Bank App isa banking application of Military Bank (MB) on mobile phones, allowing customers to perform most financial transactions such as receiving money, transferring money, paying bills, saving online, borrow money online, top up your phone, make daily financial investment with simple operation, can be done anytime, anywhere (MB Bank)

MB Bank App on mobile phones, allowing customers to perform most financial transactions

e Paying bills

3.1 Download the App and Register for the MB Bank App

Step 1: Download the MB Bank App on your smartphone

Figure 7- MB bank Application (MB Bank, 2022)

Google Play œ App Store

You can directly download the app “MB BANK” at the App Store or CH Play

Figure 8- download MB bank app (MB bank)

Step 2: Sign up for an account

After downloading the MB BANK app to your phone or tablet You click on the

"Download the application" button at the link when scanning the QR code This is the interface when entering the app to continue to register for the service and follow the steps as shown in the picture

,

Số 79, Lý Thường Kiệt, P Tran Hung Dao

Q Hoàn Kiếm TP Hà Nội

Enter your username Choose account Photo ID Card

and email according to number according and face

your needs to need

ae =-=:

Confirm the information Log in and enter

and enter the OTP sent the referral code

Figure 9- Steps to create MB Bank account (MB bank, 2021)

3.2 The main features of MB Bank application:

¢~ Lifetime free transfer

With MB Bank, whether it's a weekday or a holiday, a weekday or a weekend, your transfer will be completed immediately Moreover, you also get free lifetime money transfer including transactions with MB bank, 24/7 interbank, domestic ATM card or via phone number

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s% Quick account management

Figure 10- View account balance check card list (MB Bank app)

All basic features are available on MB Bank application such as viewing account/card list and checking balance/limit, searching and viewing transaction history with detailed information, managing loans quickly, looking up the nearest ATM/branch, Support to open/finalize savings accounts online with high-interest rates without going

to the bank, no need to keep the books like the traditional way

s% High security, safe

The system uses Digital OTP to make it more secure and convenient for customers Never have to wait for OTP messages Convenient for transactions both in Vietnam or abroad MB Bank also supports login with fingerprint and Face ID to access the app quickly without having to remember the password

+ Earn points to redeem gifts

You will have many opportunities to accumulate points when you regularly make credit card transactions, deposit savings, deposit money and pay bills on MB Bank application After accumulating reward points, you can convert them into many attractive gifts and incentives in areas such as travel, food, services, shopping, Golden Lotus miles or refund to your card

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s% Day utility bills

Just 1 payment, the application will remember and automatically renew the next

time for bills such as electricity, water, internet, television, In addition, you can also

recharge your phone, buy tickets plane tickets, movie tickets, or pay tax periodically right on MB Bank (MB bank, 2021)

3.3 User experience

On February 14, 2020, Military Commercial Joint Stock Bank (MB) officially announced the new version of MB Bank App, which optimizes customer experience, provides many smart utilities, and ensures transaction safety

VN XPRESS Tnemostread Vietnamese newspaper Vietnamese Edition

4 Competitors

The banking industry is intensely competitive, and companies frequently offer incentives to new and existing customers These incentives can take many different forms, from special deals to new policies

Techcombank and ACB are currently major competitors in the customer segment addressed by MB Bank

Techcombank and ACB have almost the same total assets in particular ACB (approx 543 billion VND), techcombank (approx 623 billion VND) and MB Bank (approx 658 billion VND) (cafef.vn, 2022)

22

Both Techcombank and ACB are developing smart apps in the fight for internet banking on mobile apps, continuously developing customer support services, optimizing interfaces and rapidly adding utilities

In the Google store, the number of people who have downloaded MB Bank (approx 10 million+), Techcombank Mobile and ACB ONE (approx 1 million+) (Google Play, 2022)

Figure 12- the number of downloads on google Play (Google Play, 2022)

Table 3- Compare with another bank’s app (TheBank, 2021)

Sign online contracts

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Bank to sign the night of

translation

Free 24/7

Online loan: super-fast loans

from savings books, super-

fast loans from credit cards,

unsecured loans online

Online savings: Savings

accumulation or savings at the

end of the period

Easy to pay electricity and

water bills, tickets

Query balance/ transaction

No loan directly on the app

Easy to pay electricity

and water bills, tickets

Query balance/

transaction statement

OTP and TOKEN mail

Free OTT ton Fast Mobile

ACB

Free 24/7

Savings online pay interest at the end of the period

No loan directly on the app Easy to pay electricity and water

bills, tickets

Query

balance/ transaction statement

OTP

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C®) theo công bố của ngôn hàng

Figure 13- Top 10 banks with the largest total assets in 2021 (Vietnambiz.vn, 2021) According to statistics from 27 banks that have announced their financial statements for the fourth quarter of 2021 (Agribank is the preliminary result), the total

assets of banks as of December 31,2021 have reached nearly 12.5 million VND billion,

an increase of 15% compared to the end of last year in which MB Bank ranks 5th in the 10 banks with the largest total assets

In which, the uptrend dominated with 26 banks with an increase in total assets and only one bank with a decrease The assets of these 10 banks alone have reached nearly 9.67 million billion VND, accounting for more than 77% of the total assets of the 27 banks (Vietnambiz.vn, 2021)

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Figure 14- Market share of bank cards in Vietnam 2021 (cafef.vn, 2021)

A recent report of the Card Branch - Vietnam Bankers Association said that the

total number of issued cards in circulation until June 30, 2021 reached 110 million cards

of all kinds, up 28% compared to the end of 2018; in which domestic cards reached 90.4 million cards, accounting for 82%

The 4 leading banks in terms of the number of cards in circulation are VietinBank

with 16.9 million cards, accounting for 15%; BIDV with 15.3 million cards, accounting for 14%; Vietcombank with 15.1 million cards, accounting for 14%; MB with 7.6

million cards, accounting for 7% (cafef.vn, 2021)

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Psychographic: As a reputable long-standing bank, the application is user- friendly, secure, and customer information is high, you can start all of this conveniently and easily with the MB Bank app

Behavioral: is one of the banks implementing internet-banking successfully with more than hundreds of service utilities, including Money Transfer, Bill Payment, Buy

Air Tickets, Buy Train Tickets, Movie Tickets, Collect Money and Deliver translation

on mobile devices (MB bank, 2022)

7 Value chain of MB Bank

7.1 Content

MB developed with the vision of "The most convenient bank" along with the motto set out at the beginning of the year "Digital Acceleration; Retail Breakthrough; Safety - Efficiency”

MB Group also continues to orientate to build and develop corporations in

requirements of digital transformation MB Goals is business growth and improve competitiveness

Promotions for card making, brand advertising, raising capital with high interest rates, advertising programs on mass media, etc., which are frequently applied widely, have created a premise for MB to attract thousands of customers

MB has implemented the integration of all banking transactions and completely free financial management on the MB Bank App (for individual customers), BIZ MB Bank (for corporate customers) and the banking transaction model automatic bank MB Smart Bank This bank also allows customers to own multiple account numbers like "a multi-compartment wallet" or free four-quarter accounts, accounts with the same phone numbers, accounts with the same birthday on the MB Bank App

7.2 Infrastructure and Services

Currently, Military Bank (MB Bank) has a nationwide network with over 100 branches and over 190 transaction points spread across 53 cities and provinces The bank also has a representative office in the Russian Federation, branches in Laos and

Cambodia

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°ồ MB has 480 ATMs, 2500 POS machines located in provinces and cities nationwide

¢ MB's infrastructure has been designed to deliver a more modern and efficient IT platform, supported by standardized processes Accompanying MB on the journey of digital innovation

Figure 15- Infrastructure (TheBank, 2021)

Figure 16- Office & ATM (MB Bank)

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MB Bank has a lending interest rate based on the needs of customers The interest rate will be applied based on the agreement between the customer and the bank MB is one of the few banks that can do this, MB is also the bank with the best capital quality and solvency in the market

Military Bank (MB) launches the "2 in 1" MB Hi Collection card, which is extremely unique in terms of both form and utility and features Suitable for many ages This is a card line that integrates a credit card and an ATM card in the same chip This

is one of the products that bring a perfect user experience, aiming to become the "most

It is Internet banking, which allows you to perform the above

accessing the MB internet banking website address, logging

in and transacting

You will trade through the application installed on the phone The phone needs to support application installation and have

an Internet connection to use the service

Application for Viettel subscribers with an account at MB If you do not register at another bank, your account will default

to MB when you register for this service

Help you query account information, interest rates, exchange rates, ATM points and receive proactive messages when there

is a change in the balance of money in the account (increase

or decrease)

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B ANALYZE

1 Business model of MB Bank

Currently, Vietnam is a country with a young population, high rates of mobile phone and Internet usage At the same time, the State Bank has a strategy to promote and support commercial banks to digitally transform the banking sector That's why the Banking app was born and became an indispensable form of banking The App also helps attract many interested and used customers, many new services are integrated to better meet customer needs and optimize costs for the bank

Figure 17- Business model of MB Bank (Hootsuite, 2021)

2 Revenue model of MB Bank app

App banks all make money from 3 main models: Web catalog Revenue model, Subscription to advertising supported model and Fee for transaction revenue model 2.1 Web catalog Revenue model

When it comes to banking, we all immediately think of the Internet Banking feature This is a Web Catalog Revenue Model which is essentially an electronic version of the traditional category-based retail sales model MB Bank supports customers to perform transactions (money transfer, payment, .) quickly through mobile devices or computers with Internet connection Some useful features of this service such as: Query account

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information, Check account balance, Transfer money with the same system and other systems, Pay bills,

Figure 18- Web Catalog Revenue Model (mbbank.com)

MB also comes with service packages to suit the needs of each person When using the eMB Basic service package, customers are only allowed to use non-financial features Such as: Personal information management (Check activity log, change password, change personal information, .), account activity management (Check

balance information, transaction history in date, bank account management, etc.) When

using the e€MB Advance package (personal MB Internet Banking), customers can use both financial service features and non-financial features (in the eMB Basic package) Finally, Advance + Package, this is a service package aimed at corporate customers (MB Internet Banking business), some features of this service package: Supply chain support, international money transfer Online, Online banking loan,

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Figure 19- Services of Internet Banking (mbbank.com)

2.2 Fee for transaction revenue model

Fee-for-transaction revenue models generally generate revenue through the earning of commissions The larger the transactions, the more they earn Using this model on the internet offers some flexibility that businesses can take advantage of such

as lower overhead costs and the ability to earn some extra revenue The success of the application comes from transactions between accounts, banks, promotions, purchase of scratch cards By providing these services online, companies are able to remove the human agent as the intermediary and introduce a website as the new intermediary With

MB Bank, whether it's weekdays or holidays, weekdays or weekends, the Your money transfer will be completed immediately Moreover, you also get free money transfer for life including transactions with MB bank, interbank 24/7, domestic ATM card or by phone number but other banks will charge fees for transactions to customers Business

and international transactions

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Figure 20- Fee-for-transaction revenue models (MB bank, 2022)

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2.3 Subscription to advertising supported model

In the application will be a place for their customers to place ads A large number

of customers that are partners will have to pay afee to be able to use a space inside their application, space in the application for third party advertisers, they can place charges for a specific time period or, depending on views or clicks on an ad, "exclusive" sales programs, usually for products with high operating costs, such as movie tickets, food

and drink, etc

Figure 21- Subscription to advertising supported model (MB bank) The most prominent feature is Fee for transaction revenue model It makes payment and money transfer procedures easier for customers Instead of going to the bank, you can now use these services anywhere Just a phone connected to the internet removes all barriers and it is also the app's most revenue-generating model

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