Solutions for developing e banking services at agribank tay do branch

This currency type can be easily converted to cash, has the samefunction as cash and other advantages that are safe, easy to transport and preserve.The representative money creating proc

CHAPTER 1: LITERATURE REVIEW OF ELECTRONIC BANKING

SERVICES 1.1 Overview of commercial banks

1.1.1 Definition of commercial banks

Today, many concepts of commercial banks are proposed depend on thedevelopment history of the banking system and researching aspects

Based on types of services that commercial banks provide, Prof Peter S Rosedefines: “Commercial banks is a type of financial institution that provides the mostdiverse list of financial services, especially credit, savings, payment services andperforms larger range of financial functions than any other business organizations in

the economy.” (Peter S.Rose (2004), Commercial Bank Management (Translation),

Financial Publishing House, Hanoi)

In terms of main activities of commercial banks, the definition of commercialbanks is understood as follows: “Commercial banks are organizations whichestablished under the provisions of law, trading in monetary field with the regularoperation is receiving deposits in many different forms, and using this amount ofmoney for credit, provide payment services to economic entities aming at profit.”(Associate Prof PhD Tram Thi Xuan Huong, M.Sc Hoang Thi Minh Ngoc (2013)

Commercial banking textbook, Ho Chi Minh University of Economics, Economic

Publishing House)

Within the scope of this thesis, the author uses the definition which isextracted from Commercial banking textbook of Ho Chi Minh University ofEconomics, and this definition is used throughout the thesis because of its highrelevance in the Vietnamese banking system

1.1.2 Function of commercial banks

a Credit intermediaries

The main operation of commercial banks is borrowing for lending Thisproves that one of the important function of a commercial bank is acting as a creditintermediary, that is, on the one hand, the bank will mobilize idle money on allsubjects in society from businesses, organizations, households, individuals,…on the

other hand, the bank will use this borrowed capital to relend to entities that needadditional capital By this way, commercial banks will be the bridge between thetemporary capital-deficient entities who need to borrow, thereby creating benefitsfor all three parties: depositors, banks and borrowers Commercial banks will maketheir own profit from the gaps between the loan interest rate and the lending interestrate This profit is the basis and condition to ensure the existence and development

of the bank

Figure 1.1 Capital flows in commercial banks

(Source: Summarized by author)Through the credit intermediaries, commercial banks contribute to the utility

of all participants and the general benefits of the economy

- For depositors: they gain the benefit from the temporarily idle capital in theform of deposit interest that the bank pays them Moreover, the bank guarantees themthe safety of deposits and provides convenient payment services

- For borrowers: they will be satisfied the capital needs for business, spending,payment without incurring a lot of expenses

- For commercial banks: they will seek a profit from the difference between th deposit interest rate and the lending interest rate

- For the economy: this function plays an important role in promoting

other revenues according to their commands In here, commercial banks play therole of “treasurer” for businesses and individuals because they hold their accounts.Commercial banks perform payment intermediaries on the basis of performingcredit intermediaries Because through the receipt of deposits, the bank has opened

an account for customers to track revenues and expenses That is the amount ofmoney to help customers make payment via the bank, place the bank in theintermediary of payment Besides, the direct cash payment among economic entitieshas many limitations like risks in money transportation, large payment costs,especially for remote customers, and this created demand for customers to makepayment transactions via banks

c Representative money creation

Representative money is a non-material currency, essentially just numbers on

a bank account which are created through the credit activities of the commercialbanking system This currency type can be easily converted to cash, has the samefunction as cash and other advantages that are safe, easy to transport and preserve.The representative money creating process of commercial banks is conductedthrough the credit and payment activities within the banking system, in closerelationship with each country’s Central Banking system It is the ability to turn theinitial deposit level at the first bank received deposit into a large amount of moneywhen performing multiple credit payment transactions through many banks.Commercial banks make the representative money from the Central Bank If there are

no constraints, the ability to make representative money is unlimited However, underthe control of the Central Bank, commercial banks only create representative moneywithin certain limits

d Implementation of national economic policies

Despite the independent commercial banking system, it is always under thestrict management of the Central Bank in all aspects In particular, commercialbanks must always obey the regulations of the Central Bank on the implementation

of monetary policy to stabilize the value of money, make the amount of moneysupply in the economy must match the needs of society To do this, the attraction ofdomestic and foreign capital through commercial banks must be used for the right

purposes and requirements of the economy Credit generated from commercialbanks must be effective on the basis of lending to expend production, developtrading, create jobs for workers and contribute to the implementation of socialpolicy targets of country.

1.1.3 Operation of commercial banks

of the difference of input and output deposits between customers’ accounts in theprocess of capital flows, therefore, the bank can earn from these differences

+ Term deposits is a type of deposits that customers deposited into banks andthere is a prior agreement on the withdrawal time This type of deposits is relativelystable as the bank can determine the withdrawal time for paying to customers on

time, hence, the bank can use fully that deposits for business purposes With thisdeposit type, the bank has many maturities from 1 month, 3 months, 6 months….,which helps customers choose the appropriate term of deposits with the amount ofidle money that they have Commercial banks have the right to use term deposits in

a certain time period, so this type of deposits are paid with higher interest rates thandemand deposits

+ Saving deposits is a type of deposits that customers deposited into banks forearning interest When customers sends their idle money into the bank, they will beprovided a savings book that they have to manage and bring it in each transactiontime In essence, savings deposits is a part of the income of individual employees thatthey have not consumed yet, which is a special form of accumulating money instead ofstoring golds and goods In some industrialized countries, this is a common type ofdeposits with high stability due to the deposit term lasting from one year or more, andthis leads to the initative of the bank in the purpose of long-term capital To attract thiscapital, banks often have to pay high interest rates.

- Mobilizing capital by issuing valuable papers such as bonds, promissorynotes, C.D (Certificate of Deposits) and other valuable papers

+ Bond issuance is a commitment to certify the issuing bank’s debt repaymentobligations (both principal and interest) to bondholders with the aim of raisingmedium and long-term capital under the management of The Central Bank,

regulators on the stock market and this may be dominated by the bank’s reputation.+ Promissory note is a short-term valuable paper (less than one year), whichhas same characteristics with bonds but with a shorter term, so it is used for short-termcapital mobilization by commercial banks

+ Certificate of Deposits is the paper which is confirming the periodic deposit

at a bank The owner of this paper will be paid interest periodically and receiveenough principal until the expiration date After the issuance, the certificate will becirculated in the money market

+ A number of other valuable papers are issued to attract capital from abroad(EURO DOLLAR), characterized by both mobilizing capital and paying interest plusprincipal in dollars Banks use this type of valuable paper to attract short-termmobilized capital (3 months) Commercial banks when raising capital in the form ofissuing valuable papers have to pay higher interest rates than deposit rates so whenissuing, commercial banks must base on the output to decide the deposit amount,interest rate, maturity and appropriate method of mobilization

- Mobilizing capital from the State Bank or other credit institutions: This is thecapital that commercial banks get through borrowing relationship between

commercial banks and central banks, between commercial banks or with othercredit institutions, which is a costly capital source, therefore, the mobilization ofthis capital source is not really common, only in case of necessity such as the lack

of available short-term capital

- Mobilizing capital from issuing shares: This is the capital that commercialbanks gained by issuing shares to public by its benefits: rapid capital increase,attracting customers, improving the quality and popularity of the bank In addition,the fact that commercial banks issue shares to raise capital is mainly related to thebank’s long-term development strategy and has high advantage over other conventionalbusinesses because of its high professionalism and great reputation in the financialmarket This can help commercial banks create and develop better relationships withcommercial banks or other financial institutions and issue shares themselves andreducing cost of raising capital via issuing shares in the future

b Capital using

The main activity of the bank is seeking capital to use for making profit Theuse of capital is the process of creating many different types of bank assets, most ofwhich are used for credit activities, investment and service provision

- Credit activities: This is the main and most important business activity,accounting for the largest proportion of total assets, reflecting the typical activity ofthe bank which is lending, bringing the largest income source for the bank In thisactivity, the bank transfers the right temporarily to use the capital to the borrower,after a period of time, the borrower is obliged to repay both principal and interest tothe bank In addition, credit activities also include a number of other related activitiese,g handling of loan security assets, lending interest rate exemptions, guarantees,factoring, financial leasing, discounting, rediscounting of short-term valuable papers

- Investment activities: Commercial banks also invest in making profits such

as contributing capital to enterprises, buying and selling securities in the market orlending in the interbank market to take advantage of idle capital

- Service provision: In addition to the above two activities, a commercial bank

is also an organization that provides many banking services such as providing

payment instruments, making domestic and international payments, cash delivery tocustomers and retail banks,…With diverse types of services, the bank has gained asignificant source of revenue, and this revenue is taking up a larger proportionincreasingly in a bank’s total income.

- Providing insurance services, setting up affiliated companies or ventures to conduct insurance business according to the provisions of law

joint-1.2 Overview of electronic banking services

1.2.1 Definitions of electronic banking services

Recently, not only commercial banks is defined in many different ways butalso electronic banking services are understood in many terms

Sadaf Firdous and Rahela Farooqi said, “Online banking is an electronicpayment system that allows customers or financial institutions to control financialtransactions on websites which operated by that institutions Online banking canalso be understood as electronic banking, virtual banking.”

Meanwhile, Mahmood Shah & Steve Clarke define electronic banking “as aform of describing all forms of financial service delivery from an organization totheir customers Customers may be individuals or other businesses.”

Within the scope of this thesis, the author uses the definition of MahmoodShah & Steve Clarke due to the more general definition of the form as well as theobject of customers using electronic banking services, and this term is also usedthroughout the thesis

1.2.2 Characteristics of electronic banking services

Electronic banking services include the following characteristics:

- Fast transaction processing speed: Electronic banking services allowcustomers to make transactions in the shortest time possible With the influence of thefourth technology revolution, electronic transactions allow customers to conducttransactions and confirm transactions quickly and promptly The information aboutbanking services such as stock quotes, interest rate announcements, exchange ratefluctuations, portfolio management,…is updated quickly and accurately by thebank, helping customers manage their assets and investment portfolio effectively.Besides, the current processing time for a transaction is decreasing, along with thedevelopment of information technology Nowadays, banks are focusing onupgrading the Core-banking system to be able to bring the most stable electronicbanking products and services, providing the fastest transaction processing time tosatisfy customers.

- Unlimited in time and location:

Customers do not need to go to the bank to sign papers, write deposit notes,wait in line They just need to perform transactions on the computer or make aphone call at home, work or a cafeteria Therefore, customers can save a lot of timetravelling or wating for transactions Just in a few moments, with modern means oftransmission, customers were able to check accounts, pay service fees, transfermoney, perform payment transactions for goods,…to capture promply theinvestment and business opportunities Through e-banking, banks can link withonline sales businesses to buld online payment gateways, in conjunction with stateadministrative agencies providing online government services This is a quick andconvenient form of payment, a motivation for promoting e-commerce development.E-banking also helps banks expand their ability to serve customers Customerscan conduct transactions 24/7 anywhere they want with only a stable internetconnection Through e-banking, banks can quickly provide services without having

to open more branches in the country as well as abroad, saving infrastructure costs

- Increasing customer care: With e-banking services, banks can provide more value to customers Customers can be completely satisfied with payment services, shopping, money transfer, quickly and effectively Thanks to the utilities gained from information technology and the Internet, banks will create certain strategies to

attract new customers, retain customers who have been using banks’ services,

thereby becoming loyal customers of the bank

- Low transaction costs: The cost of customer transactions with commercial

banks through the electronic banking system is much lower than that of customers

conducting direct transactions with bank staff

Table 1.1: Transaction costs in some types of banking service

(Source: Summarized by author)

Customers can save travel costs and do not have to pay service fees when

performing online transactions with the bank Electronic banking is suitable for

customers who are always on the move, prefer independence, busy and have less

time to come to the bank or the amount per transaction is not much

In addition to saving travel costs, reducing the opportunity costs by saving

time1, e-banking services always have the lowest fees comparing to other fees at a

bank Since the bank itself does not incur costs for hiring locations, expenses for

staff salaries, administrative costs, accounting expenses, inventory costs, etc when

applying e-banking services, customers can enjoy a much lower user fee Many

transactions can be made on the Internet: Check account balances, transfer funds

between accounts, pay utility bills, download account’s information, trading

securities, conducting financial investment activities, checking cash balances,

interest on deposits and other new services without having to go to transaction

offices or bank branches

- Mostly rely on technology infrastructure but contains technological risk

factors

The e-banking services themselves are designed based on links of information

technology and banking data All services that you want to use must be connected to

the Internet or electronic devices such as computers, phones, ATMs To use

e-banking services, customers need a computer or network access device Through theweb browser, customers access the bank's website and access the account, performtransactions with the bank without having to install any other supporting software.Therefore, e-banking is a service associated with information technology elements.However, it is also at risk from these modern technologies, because the moremodern the technology is, the easier hackers can create viruses or intrude data theft.Therefore, if e-banking services do not have good security capabilities, they willsuffer greatly from this risk.

- Depends on the user’s level of knowledge

In addition to relying on technology infrastructure, customers using electronicbanking require skills in using ICT in addition to social awareness Customers whendealing with banks should be fully aware of the operations using computers orInternet-connected devices, how to connect to the network, open browsers, searchfor related information on banking products and services With e-banking services,each transaction is done almost instantly without the guidance of bank staff Thisrequires customers to have certain awareness and prudence when trading viaelectronic banking

- Lack of support from bank staffs

With E-banking, customers have to manage accounts by themselves andconduct banking transactions on the Internet Nowadays, every banks’ website havebeen updated with all the information about the bank, its service as well as detailedinstructions to help customers conduct transactions smoothly Customers use theinformation provided by the bank and conduct their own transactions without anydirect contact with bank staff This helps banks to serve many different types ofcustomers at any time without recruiting additional sales staff, thereby savingpersonnel costs as well as expanding and maintaining costs

- Globalized services

Developing electronic banking services contributes to savings for the economyand increases integration into the world’s economy With the support of the globalInternet, customers can choose unlimited goods and services in a country, thus, e-

banking services will help internationalize the banking image and shows thepotential developments of itself.

With the above characteristics, author can show partly the important role of banking services for customers, banks and economy This is also the theoretical andpractical basis for banks to focus on developing electronic banking services

e-1.2.3 Role of electronic banking services

The rising of advanced electronic payment services helps increase rapidly thecapital flows and better meet the payment needs of the rapidly changing economy.That will make more money flows into banks, more diversified and turn to a non-cash economy soon

a For the bank

E-banking services help the bank save costs, improve its performance,reputation and competitiveness, therefore:

- Helping banks reduce the burden on administrative procedures andoperations, bringing high productivitiy to the bank Commercial banks deploy thatelectronic banking services will reduce paperwork, operating costs and speed uptransactions Moreover, commercial banks can also reduce the number of personnel atthe counter and operational errors

- Helping commercial banks to expand their operations, increase theircompetitiveness and can also implement globalization strategies without openingbranches abroad

- Contributing to increase the capital source for commercial banks: The moreadvanced the non-cash payment system is, the more capital the bank will mobilizefrom economic organizations Besides, through the non-cash payment, banks canupdate exactly the capital situation of payment entities to lend them on time, rightpurpose and ensured by goods

b For customers

- Customers can contact the bank quickly and conveniently to perform anumber of banking services at any time and anywhere This is significant forcustomers who have less time to go to the bank, individual customers with a smallnumber of transactions with banks, small and medium-sized businesses

- Allowing customers to make and confirm all transactions quickly andconveniently with high accuracy Instead of going to the bank to carry out manycumbersome and time-consuming procedures, you only need to register for e-bankingservices to make money transfers and online payments

- Helping customers save costs by lower fees than direct transactions at banks

- Customers can access and manage all bank accounts on one website

c For the economy

With the goal of integration and technologization, electronic banking is one ofthe products which contributes to promoting economic development and catching

up with the modern world trend

- Contributing to stabilizing monetary circulation costs

The implementation of non-cash payment in Vietnam and many countriestoday has helped to increase the proportion of non-cash payment in the cash flow,reduse the amount of cash and the necessary expenses in circulation, direct impact

on the market, prices, control inflation and proceed to monetary stability Theexpansion of non-cash payments will increase the amount of book money andreduce the amount of cash in circulation, thereby reducing the cost of printingmoney, counting, transporting, preserving money for the whole society in generaland for the banking industry in particular

- Increasing the speed of capital circulation, improving economic efficiency for related entities

When saving transaction time, the accuracy is also improved Therefore,electronic banking makes payment and money transfer faster, so that the capitalflow is more efficient In particular, in the trend of promoting online public revenueand expenditure, commercial banks provde electronic banking services inassociation with state budget revenue unit (insurance, customs, tax) and this willhelp the collection work faster, more convenient and achieve higher efficiency

- Accelerating integration, keeping up with the trend of digital technology in the world

Around the world, electronic banking services take place very early.Therefore, the fact that Vietnamese commercial banks are now strongly promoting

electronic banking services has helped the country’s economy catch up with thetrend of modernization.

1.2.4 Categories of electronic banking services

a Internet Banking

Internet Banking is a service providing product information and bankingservices via Internet connection To use the service, customers need to register withthe bank and will be given an username and password When you want to performtransactions, you only need a personal computer with an Internet connection Notonly can customers check account balances, they can also use a range of onlineservices such as buying insurance contracts, investing in securities, paying bills,transferring accounts, etc

This service is provided to both individual and corporate customers The banksupports e-commerce between businesses and all moneytary transactions, openingletters of credit between importers and exporters, opening letters of guarantee areall done online Customers do not have to go to the bank but can still performtransactions, therefore saving time for both customers and the bank

b Mobile Banking and SMS Banking

This service is the bank provided through a server system and managementsoftware located at the bank, the link with customers through call center servicesbased on specific operational guidance with customers

First of all, this system mainly serves a small number of of transactions WithTelephone Banking, customers can sit at home or work using the phone to call thebank's Phone-Banking system Then the system will automatically guide andprovide information about products and banking services In addition, customerswill be provided with a password to access the system to know the latesttransactions and current account balance

To increase their own competitiveness, many commercial banks also offermobile banking services (Mobile Banking), helping customers access the bankanytime, anywhere With Mobile Banking, customers who want to receiveinformation about products and services of the bank will send a message to theMobile Banking system and the bank will reply to that message When a transaction

is made on an account, the system will automatically send a notification message tothe customer's phone However, to use this service, customers' mobile phones needWAP (Wireless Application Protocol) support to access the bank's WAP WAP is asmall form of website used exclusively for mobile phones When making paymentorders, customers will compose a message with a certain syntax and send it to thebank's processing center according to a specified code After confirming the correctcustomer information, account balance, the bank will send a message askingcustomers to enter the password Having entered the correct password, the bank willperform the transaction, and will then send a notice to the customer The wholeprocess of performing a transaction only takes approximately 20 seconds.

SMS Banking is an application that allows customers to update, check theiraccount informations and register new information about interest rate, exchangerate,…by sending messages to the bank’s private number

c Home Banking

Home Banking is a strategic development of e-banking services With theslogan "24-hour banking service, 7 days a week", this application is a remarkableadvantage comparing to the traditional banking model This service is highlysecured because it operates on the local communication network (Intranet) betweenbanks and customers Home banking services are built on one of the two platforms:the system of application software (Software Base) and Web technology platform(Web Base) Through the server system, Intranet network and client computers,financial information will be established and encrypted, exchanged and verified ondemand In addition to making a difference, attracting customers, the system alsoprovides updated information about goods, services, special announcements,entertainment information,

d Automatic Teller Machine (ATM) and Electronic Funds Transfer at Point ofSale (EFTPOS)

ATM is connected to the computer network of each bank or inter-bank toautomatically support customers with services such as account information, cashwithdrawal, money transfer, changing PIN code Currently in Vietnam, ATM ismainly used for cash withdrawal, money transfer and information inquiry The

development of this ATM system will gradually reduce the work for the bank'sstaff, replace cash usage habits and other non-cash utility services, and help banksand customers save money significantly Therefore, banks will have more time toconsult their products to better meet the needs of customers.

POS is a type of terminal installed in shops, supermarkets, gas stations, wherecustomers use cards to pay for goods The seller will slide the card across the cardmachine The card holder’s information will be transferred to the reader, and then to

a central switchboard The information on the card is encrypted to ensure safety.After the bank checks the information that the card is valid for payment, the

processor of the buyer’s bank will send the license number to the Central Call

Center and from there to the store The customer's deposit account will beautomatically debited and the retailer's account will be credited accordingly after aperiod of time

Table 1.2: Products of electronic banking services

Internet Banking The service provides automatic informations, banking

products and services through the Internet With adevice connected to the Internet, customers can visit thebank’s website to update information related to policies,terms of service, perform account transactions, checktransaction history, look up information about interestrates, exchange rates, bank promotions, payments andmoney transfers

Mobile Banking Allowing banks to perform many types of transactions

with simple and convenient operations right oncustomers’mobile phones

SMS Banking Allowing customers to look up account information,

register to receive the latest information from the bankvia messages

Home Banking Allowing customers to perform most transactions with

banks e.g money transfers, listing transactions,

exchange rates, interest rates, debit and creditnotes,….at home or at work.

ATM/POS With ATM/POS, customers can make cash withdrawal

transactions or transfer money to buy goods atsupermarkets and shops without using cash at stores thataccept card usage

(Source: Summarized by author)

1.2.5 Advantages and disadvantages of electronic banking services

a Advantages

Saving costs for banks: From an economic perspective, e-banking services

help banks save maximum costs related to transactions, payments, travel costs, Moreover, when developing e-banking services, banks will reduce the burden ofopening branches and transaction offices, so the cost of renting premises, staff costs,equipment,…is reduced, but can still ensure the customer service quality

Improving the efficiency of the bank’s c apital using: Through electronic banking

services, payment orders and collection orders of customers are implemented quickly,speeding the process of money-goods exchange Quick money transfer speeds up thecirculation of goods and currencies and also improving capital efficiency

Expanding the scope of banking activities: The combination of improving the

quality of traditional banking services and electronic banking services allows banks toaccess quickly with modern and effective management methods, therefore helping thebank diversify products, increase sales, improve operational efficiency and competitiveposition Besides, e-banking services also help commercial banks implement thestrategy of "globalization" without opening more branches It is a tool to vividly andeffectively promote the brand of commercial banks

Providing full-service packages: With a modern banking model, which is a

multi-purpose business, the ability to provide different products to different customers

is very high In particular, e-banking services can provide cross-service, that is, thebank may associate with insurance companies, securities companies, and

other financial companies to offer products and services in order to meet the needs

of a customer or a group of customers related to banking, insurance, investment

Improving the ability to take care and attract customers: The utility fromapplication technology and Internet that has attracted and kept customers to useservices and perform transactions with banks E-banking has the ability to attractcustomers on a large scale, anywhere and anytime This has caused customers tobecome "close friends" with the bank

Quickly and conveniently for customers: The effect of e-banking services is

that customers can do transactions anytime and anywhere, saving time for customers.Customers who have little time to directly come to banks, small and medium-sizedenterprises, and individual customers with not much transaction volume prefer this type

of service Besides that, e-banking helps customers monitor and manage capital better

by querying account information, helping customers avoid the risk of losing transactiondocuments

Safe, flexible and economical: Customers will not have to bring cash directly to

the bank like traditional transactions, thus limiting the risks during transportation.When losing the means to transact via electronic banking (card, PIN ), all informationabout the customer's account is still guaranteed to be safe and confidential In addition,through account statements, customers can easily check and manage their spending.Moreover, the standardized service provided by e-banking should avoid differences inservice quality in different banks or even in the same banking system due to inequality

in staff performance as well as the service attitude of individuals In addition, the cost

of electronic banking transactions is considered to be low (most banks charge atransaction fee below 11,000 VND/ month), even zero-fee transactions (banks inVietnam today do not charge customers for registering for e-banking services)

technology, network technology, all transactions of customers are performed onlinevia network, with new concepts such as electronic wallets and electronic vouchers,smart cards which will give rise to capital, technology, safety, security, risk

prevention issues…

Expensive investment capital: In order to build and develop an electronic

banking system, the bank must spend a lot of capital on investing in the system andtechnical infrastructure up to several million USD, and accompanying it is thedevelopment software management system, training human resources This processdepends greatly on the financial potential of the bank, while not all banks have enoughfinancial resources to invest This is one of the current difficulties in modernizing thebank

The process of confidentially and safety of customer data is still cumbersome, too many stages which cause trouble for customer: All data, databases of e-banking

transactions must be archived, the opening and closing of customers' accounts must bepaid attention to, changes in access rights, scope of access and limits allowed fortransactions requires customers to have the corebanking software and the ability tostore data sources safely, fully, completely and accurately; must develop a process ofcontrolling data safety in e-banking operations and apply necessary measures to ensurethe confidentiality of customer information Because there are too many things to payattention to, it is very difficult to avoid errors in the process of operating andimplementing the process

Potential systematic risk: Currently, the level of economic development is

directly proportional to the level of science and technology, therefore the bankingsystem can be completely violated, counterfeited or fraudulent at any time Encryptionprogram and electronic signatures in the operation of electronic banking still havecertain vulnerabilities

1.3 Developing electronic banking services

1.3.1 Definition of developing electronic banking services

Developing electronic banking services is the growth in the scale of providinge-banking services and increasing the proportion of revenue comes from this servicegroup to total revenue of the bank, in order to improve the service quality and

ensure the satisfaction of customers’diversified needs based on risk control and

increase business efficiency in accordance with the objectives and business

strategies of the bank over each period

1.3.2 Set of criterias to evaluate the development of electronic banking services

1.3.2.1 Qualitative norms

 Simple and quick procedure

As the technology becomes more modern, banks will have software andapplications to help customers access and use the service easily, quickly andconveniently Compared to traditional transactions, transactions via e-bankingsystem are much faster, each transaction via ATM takes only a few seconds, savingcustomers time and money and reduce the amount of paperwork and procedures atthe bank itself Customers take the initiative of when to perform transactions, evenoutside office hours This brings great benefits to customers

 The satisfaction of customers

Customer satisfaction with the service is synonymous with the fact that thebank can fully meet customers’ expectations Satisfaction is a psychological statewhere customers perceive results after using products at or above their expectations.The value of services received by the customer is based on the overall service chain,the staff’s quality, the competitor's activities, the level of knowledge and the level ofcustomer service understanding Customer care is essential for the bank to satisfy theneeds and desires of its customers, that is, to serve its customers the way it wants toserve and retain the customers it currently has

 Reliability level of E-banking service

Just a fault or a system malfunction can cause the whole system to stopworking This affects the reputation and income of the bank In order to helpcustomers be more confident about the quality and accuracy of the services the bankprovides, that bank can provide customers with evidence of people who have usedthe service, expert advice, or provide specific documents that describes each step ofthe service, customers’ experience, and compensation during the implementation ofthe service if errors occur

 Risk management in e-banking service activities:

Risks in the operation of electronic banking is the possibility of losses whenconducting electronic banking activities Risks in e-banking include intentional andunintentional actions during the course of operation, affecting the reputation of thebank, causing loss of banks assets and customers Controlling these risks willcontribute to perfecting the development of electronic banking services

- Operational risk: arising from the potential loss due to the lack ofcompleteness and reliability of the system, banks can be attacked from the outside aswell as from inside

- Reputation risk: arising from negative public opinions about the bank orwhen customers encounter obstacles in the process of using new services and whencustomers are not provided with sufficient information about how to use this services.This can lead to the damage of capital mobilization or loss of customers Therefore,when a commercial bank is complained by a customer about a certain issue, it isnecessary to solve that customer complaint as quickly as possible

- Legal risk: arising due to the process of performing electronic banking

services that do not comply with the law at a certain time such as money launderingtransactions, hackers,…resulting in consequences e.g loss of customers, loss ofassets, etc

1.3.2.2 Quantitative norms

 Number of customers using E-banking services

This index is used to analyze the growth of customers using e-bankingservices, showing that the bank has focused on market development and, therefore,creating the correct strategies to attract customers to use e-banking services Thenumber of customers using the service and the growth of the number of customers is

as high as possible This index is used to calculate the growth rate of customers andcompare that speed over years

Growth rate of customers =

x 100%

The target of customer segmentation shows the situation of using electronicbanking services at the bank for each type of customers by different industries andages, thereby identifying and comparing the growth rate of each target group overthe years and in the whole period As mentioned above, if the growth in the number

of customers reflects the bank's strategies to attract customers to use its productsand services, the data on the growth of the number of customers in each targetgroup will help the bank to have a more detailed view of the overall electronicbanking service When the bank has grasped who its potential customers are, thebank will implement specific solutions to increase those potential customers, and atthe same time adjust and change them to suit those with less interest in the bank.Increase in customers by each segment = Number of customers this year –Number of customers last year (figure of the same segment)

 Revenue from E-banking services

From the data on service revenue collected over each year, the bank cancalculate the level of increase in revenue from electronic banking products andservices, thereby assessing the revenue coming from this service in each period Thehigher the revenue growth rate, the better the efficiency of electronic bankingproducts and services

 The proportion of electronic banking revenue in all types of services and the growth rate of this proportion

This indicator shows the level of profitability in the service structure of thebank through the percentage of revenue from e-banking services and servicerevenue of the entire bank A high ratio means that the revenue from electronicbanking products and services plays an important role in the overall structure ofbanking services

1.3.3 Factors affecting the development of electronic banking services

1.3.3.1 Outside the commercial banks

Table 1.3: Affecting factors of electronic banking services

Outside the commercial banks

1 Social environment Socio-economic development level (income

per capita, population,…)

2 Infrastructure, science Information technology and e-commerce

and technology development level

3 Cultural and social Intellectual levels, habits, customs of the

environment population

4 The increase of Commercial banks or other financial

competitors institutions with the same field of activities,

customer segments, providing the same type

of electronic banking products and services

Inside the commercial banks

1 Financial capacity Operation scale, capital (capital size, ability to

mobilize capital, use of capital) of the bank,investment cost of facilities, moderntechnology,

2 Products and services Prices and fees related to products and

services, the diversity and abundance ofdifferent types of electronic banking services

3 Organizing the The branch’s network system, level of

network service modernization of branches and transaction

offices within the bank

4 Banking technology The development of technology within the

bank, related to the speed of processing largevolumes of transactions, the safety, accuracyand applicability of science and technology ofeach bank

5 Management level The bank’s management and governance

and human resource capabilities of bank leaders and department

quality heads, ages, qualifications (informatics,

foreign languages, network administration,industry knowledge) and attitude (dynamic,

enthusiastic) of human resources.

6 Marketing and Promotional activities, marketing products andcustomer care services to customers, communicating

information to the public about the capacity,reputation and utilities of e-banking productsand services as well as taking care ofcustomers has been using services, attractingcustomers wishing to use services

a Social and economic environment

As the economy develops, the quickness and utility of the service are highlyappreciated This can be considered as the first important factor leading to theformation of electronic banking services In order to meet the increasing demands ofcustomers, the services had to change to catch up with the demand, by whichtraditional banking services were no longer able to meet Therefore, electronicbanking was created as a useful solution It fulfills the requirements, desires ofcustomers within the shortest time, bringing convenience to customers

Associated with the socio-economic development is the level of knowledgeand acceptance of electronic banking services along with the development of theintellectual level, the living standards of the people are increasingly improved This

is also the foundation for implementing electronic banking services When people'slives are improved, services have conditions to develop If people live on a lowincome, they probably won't care about banking services They will use cash instead

of using electronic payment services One of the obstacles in the process ofimplementing electronic banking services is the people's habit of using cash.Customer's understanding and acceptance are the criteria of the service to beachieved rather than the offers and benefits offered by the service provider Tofurther promote the development of the service, we need to show customers thepopularity and how to use this service Therefore, economic development,improvement of living standards and changing habits of people are also one of thepriority issues in the development of electronic banking services

The development of the economy and the expansion of cooperativerelationships make a competition environment increasingly fierce, more and morecompetitors are showing up (not only domestic but also foreign competitors).Competition forces commercial banks to pay attention to the development ofproducts and services, especially e-banking services to enhance their competitiveposition in the financial market Competition makes banks offer more modernproducts and services to better satisfy customers' needs.

b Infrastructure, science and technology

The corollary of the digital development of information technology iselectronic banking, especially electronic computer engineering Therefore, todevelop e-banking services, it is necessary to have a solid information technologyinfrastructure, especially the national telecommunications infrastructure, whichmust be stable To be able to use these infrastructures, banks must also invest inmodern equipment and machinery such as servers, workstations, computer systems,networks, transmission lines to meet needs of electronic banking model indeploying and developing corebanking, data security, ensure smooth operation ofthe system and risk provisioning in case of necessity

Technology is a key factor that determines the development of the electronicbanking system and increase the competitiveness of each bank Not only is theresult of the development of digitalization, the introduction of electronic banking isalso a consequence of the development of electronic information technology applied

in businesses Banks will rely on electronic banking model to develop their ownspecific services together with improving service quality, which depends on thecurrent technology level Therefore, if the technology level is not advanced, thequality will be difficult to improve Correctly identifying the importance oftechnology will help the bank to have good business development strategies,ensuring international standards on banking transactions in the operations ofcommercial banks

c The increase of competitors

Ngày nay khi dịch vụ ngân hàng ngày càng phát triển thì các ngân hàng luônphải triển khai các sản phẩm dịch vụ phù hợp với nhu cầu của khách hàng Khi

nhiều ngân hàng cung cấp các sản phẩm dịch vụ ngân hàng điện tử giống nhau vớiphương thức hoạt động giống nhau thì ngân hàng nào tạo được hiệu ứng tốt với kháchhàng hơn, ngân hàng đó sẽ có lợi thế Điều này buộc các ngân hàng thương mại nàyphải cạnh tranh lẫn nhau để giành được lòng tin của khách hàng.

1.3.3.2 Inside the commercial banks

a Financial capacity

Financial capacity is crucial to the bank's operation scale, the cost of investing

in facilities, modern technology, etc The greater the capital, the greater the trust inthe public and the ability to mobilize the bank's capital In contrast, low capital leads

to unsecured capital adequacy ratio, leading to high risks in banking business.Vietnam's commercial banking system, including state-owned commercial banks ingeneral, has a small capital scale and the financial capacity is much lower than that

of foreign banks Therefore, the services provided by commercial banks are stilllimited, especially those requiring modern technology

b Products and services

In addition to providing many quality products and services to customers,customers are also interested in the costs associated with products and services Itcan be easily seen that many banks now offer the same type of products andservices, but only a few can attract customers This is mainly due to the policies onfees and prices for their products Banks need to pay more attention to this issue andcome up with appropriate policies, otherwise it will greatly affect the provision ofservices in this increasingly competitive market

c Organizing the service network of banks

The network of banks' service will affect the provision of e-banking services

to customers Banks with a wide network of modern branches will make the banks’operation become more convenient, especially in payment services and ATM /POS Because the size and nature of the operations of banks varies widely, eachbank organizes its own network There are banks only organized with a fewbranches concentrated in the developed economic region, whereas there are banksthat organize branch networks throughout the countryside with thousands ofbranches, large and small (banks of Big4 group)

d Banking technology

The rapid development of science and technology has a strong impact on allaspects of socio-economic life, changing perceptions, production and businessmethods of many fields and economic sectors including the bank itself Moderntechnology facilitates the development of banks to diversify services according tothe increasing demands of customers, while at the same time helping banks carryout large volumes of transactions quickly, safely and accurately The currentelectronic banking service is a testament to the type of service using advancedtechnology, and the development and application of banking technology in businessactivities are the basic factors that make up the difference in the service capacity ofeach bank

e Management level and quality of human resources

In the trend of increasingly competitive competition today, if technology isconsidered a factor that makes a breakthrough and differentiation for services, one

of the important factors affecting the improvement and development of bankingservices is the management capacity and the quality of human resources Humanresources are an important factor affecting the development of electronic bankingservices, especially staff with a high level of information technology and foreignlanguages Because e-banking services require employees to know computer skills

in order to master and control the system of machines and networks E-bankingservices also require banks' network management skills in dealing with problemsarising in the process of network transmission, ensuring customers' account safetyagainst the destruction of hackers or cyber criminals Foreign language proficiency

is also important because e-banking is a highly internationalized service that servesnot only domestic customers but also foreign customers In general, banks withhigh-quality, young, dynamic and enthusiastic human resources will be goodconditions for developing electronic banking services

f Marketing activities and customer care

Because most of the customers of e-banking services are individuals, thepromotion and marketing of products and services play an extremely important rolefor both banks and customers Enhancing the transmission of information to the

public helps customers update information about the bank's capacity and reputation,basic knowledge about e-banking services, understanding how to use the serviceand the benefit of banking products and services In Vietnam, banks with stronginternal forces and modernization are mainly concentrated in big cities, and the factshows that e-banking services are more popular in these areas than in thecountryside A bank with strong internal resources will be able to develop bankingservices, especially e-banking services, thereby enhancing its competitive position

SERVQUAL Model: This is the most popular model in the service quality

model According to Parasuraman, the quality of service cannot be determinedgenerally, it depends on the customer’s perception of the service and this perception isconsidered based on many factors The SERVQUAL Model is based on perceptions ofservice quality as a comparison between expected values, expectations and perceptions.This model includes the following variables:

Reliability: Demonstrated by the ability to deliver consistent and timelyservices from the first time

Responsiveness: The desire and willingness of employees to provide services

to customers

Service capacity: Determines each staff’s professional qualifications to performthe service Service capacity manifests itselft when employees interact with customers,employees directly perform services, research capabilities to relevant capture andnecessary information for customer service

Approach: Making customers easily to access services such as shorteningcustomer wait times, service locations and convenient opening hours for customers.Politeness: Related to the hospitality of employees

Information: Concerning communication with csstomers in a way they caneasily understand and listen to issues related to them e.g service explanation, costs,complaint handling questions…

Trust: Expressing the ability to make customers trust in the company or bank.This ability is reflected in the reputation of the company/bank and the attitude ofstaffs when communicating directly with customers

Safety: Concerning the ability to ensure the safety of customers, reflected inthe physical, financial security as well as information security

Customer understanding: Demonstrated by the ability to understand and graspcustomers’needs through understanding customer requirements and creating closerelationships with customers

Tangibles: Identified through appearance, service attire, support equipmentand services

e-SERVQUAL Model: Expanding the concept of SERVQUAL Model of

Parasuraman and his colleagues, an unique concept of electronic service qualitythrough the Internet (Zeithaml and his colleagues (2000-2002) was established with 7factors: effiency, synchronization, reliability, protection of personal data,responsiveness, reimbursement and contact, is called e-SERVQUAL Nowadays, whenthe level of science and technology is advanced increasingly, more and moreresearchers are interested in e-SERVQUAL Model and they established their owndefinitions In 2002, Yang and Jun asserted that the quality of electronic services isinfluenced by 6 factors: reliability, accessibility, ease of use, personalization, reputationand security Subsequently, Trocchia & Janda (2003) approached from a generalperspective on the quality of Internet Banking services, which identified 5 factorsincludes performance, connectivity, safety, sensibility and information Based onexisting researches on the e-SERVQUAL Model, Gerrard & Cunningham (2015)conducted a more detail study of customer satisfaction with the quality of electronicbanking including accessibility, reliability, responsiveness, safety, service situation andstaff quality

However, the above researches have only approached in terms of servicesprovided by the bank through websites, not in specific application yet Based on

these studies and the practical situation of the implementation of e-bankingapplications in Vietnam, these applications are focusing on following aspects:reliability, responsiveness, tangibles, service capacity, service charges and empathy

of bank staffs towards customers

H2: Responsiveness of e-banking services will have a positive relationshipwith customer satisfaction: ready to help customers use e-banking services andsupport quickly

H3: Tangibles of e-banking services will impact in the same direction with thelevel of customer satisfaction: expressed through practical means observed to servethe electronic banking system

H4: The service capacity of e-banking services will have a positive impact onthe level of customer satisfaction

H5: The empathy of e-banking staff will impact in the same direction with thelevel of customer satisfaction: caring, answering and responding to customerrequests on e-banking

H6: Service fee levels and prices of e-banking services will impact in the samedirection with the level of customer satisfaction

1.4.3 Emperical review

In recent year, there have been many economic models which research aboutfactors affecting the quality of e-banking services from many researchers Despitethe same interest in e-banking services, each researcher proposed the model withdifferent factors at different banking locations

Table 1.4: Researches about e-banking services recently

Name of researcher

Ho Diem Thuan, Vietinbank Da Nang - Empathy

- Prices and tangibles

- Service Capacity

- GuaranteeNguyen Thi Hang Agribank Bien Hoa - Reliability

- Staffs and transactionprocedures

- Products and services

- Technology

customer careCao Thi Thuy, 2016 Vietinbank Thang - Empathy

Long branch - Responsiveness

- Accessibility

- Reliability

- Tangibles

- Service chargesPhuong Thi Nu, 2016 Agribank Sao Do - Electronic technology

(Source: Summarized by author)

Although the quality of e-banking services has been studied at manycommercial bank branches in Vietnam, this type of service has not been studied inany stage at Agribank Tay Do branch, and this has created a sizable research gap.With the increasing emphasis on e-banking services due to the increasing the bank’scurrent revenue, the study of the model of evaluating e-banking service quality atAgribank Tay Do branch is necessary

CHAPTER 2: ELECTRONIC BANKING SERVICES AT AGRIBANK TAY DO

BRANCH IN THE PERIOD 2017-2019 2.1 Overview of Agribank Tay Do branch

2.1.1 Establishment and development

On February 29, 2008, with the purpose of continuing to expand operations ofHanoi Bank for Agriculture and Rural Development to meet the increasing financial andbanking needs of the economy, Agribank Tay Do branch was established under theDecision Decision No 144 / QD / HĐQT-TCCB and officially put into operation onApril 1, 2008 Agribank Tay Do was formerly Tay Do transaction office of Agribank inSouthern Hanoi branch, dependent on Vietnam Bank for Agriculture and RuralDevelopment

Branch name: Vietnam Bank for Agriculture and Rural Development - Tay Dobranch

Director of branch: Nguyen Cong Minh

Address: 36 Nguyen Co Thach Street, Mỹ Đình 1 ward, Nam Tu Liem district,Hanoi, Vietnam

Tel: 024.38379636

Fax: 024.38379640

Transaction offices:

+ Transaction office No 1: No 21,23,25 Van Tien Dung St., Phuc Dien Ward, Bac

Tu Liem District, Hanoi, Vietnam

+ Transaction office No 2: 41 Doan Ke Thien St, Mai Dich Ward, Cau Giay

District, Hanoi, Vietnam

+ Transaction office No 5: No 6 Lot A1-A2, Le Duc Tho St., My Dinh 2 Ward, Nam Tu Liem District, Hanoi, Vietnam

On October 5, 2018, the Board of Directors' Decision No 949 / QD-HDTV-TCTLregulating the adjustment of Class II branch officially came into force, Dan Phuongbranch (with two affiliated transaction offices Tho An and Tan Hoi) under the

management and administration of Agribank Tay Do branch, Tay Do branch became Class I branch.

- Dan Phuong Secondary Branch is directly under Agribank Tay Do Branch: Branchname: Vietnam Bank for Agriculture and Rural Development - Dan Phuong

branch

Address: 27 Nguyen Thai Hoc St, Phung town, Dan Phuong district, Hanoi,

Vietnam

Transaction offices under the branch:

+ Tho An transaction office: Tho An commune, Dan Phuong district, Hanoi

+ Tan Hoi transaction office: Tan Hoi commune, Dan Phuong district, Hanoi

2.1.2 Functions and business line

Vietnam Bank for Agriculture and Rural Development Tay Do branch is operatedunder the role of a monetary intermediary, whose main business includes monetarytrading, credit, banking services and other activities stated in the Bank's Charter.Agriculture and Rural Development of Vietnam Some specific fields of activity are asfollows:

- Capital borrowing: receiving demand deposits, time deposits, savings deposits inVND and foreign currencies of economic organizations and people, issuing valuablepapers

- Providing short-term, medium-term and long-term loans in both local currency(VND) and foreign currencies, guarantee, payment and trade finance, trading, cash andforeign currency collection, issuance and payment of cards and e-banking services

- Other activities: consulting and financial investment, financial leasing, brokerage, issuance and depository of securities, securities portfolio management

2.1.3 Organizational structure

Figure 2.1: Organizational structure of Agribank Tay Do branch

Source: Summarized from General Department of Agribank Tay Do branch

2.1.4 Business results of the Agribank Tay Do branch in the period of 2017-2019

2.1.4.1 Capital mobilization

Table 2.1: Capital borrowing of Agribank Tay Do branch in the period of

2017-2019

In 2018, total deposits reached 8,103 billion VND, increased by 1,221 billion compared

to 2017 (equivalent to 17.4%) One year later, the amount of deposits has increased by1,833 billion compared to 2018, but the increase was higher than 2017, reached 22.6%.The upward trend in the period is explained by change in the scale of operation of thebranch in 2018 In the 3rd quarter of 2018, Dan Phuong branch became secondary branch

of Tay Do branch, the association rose the capital of the whole branch Moreover, due togeographical advantages (located in the new urban area of My Dinh, near lots ofcommercial shopping malls) with relatively spacious infrastructure and young staffs hasattracted a large number of customers from businesses adjacent to the branch This is thereason which raises capital from residences and economic institutions over the time,however, the growth rate of the capital borrowing from economic institutions was higher(the rate in 2019 increased by 10% compared to 2017)

The data shows that deposits in foreign currencies (almost US dollars) not onlyreach the low proportion of the capital structure in the currency but also have a strongdowntrend In 2017, Tay Do branch borrowed 455 billion (converted) foreign currency(accounting for 6.6% of total capital), but in 2019, this figure was only about theequivalent of 55 billion (converted), accounting negligible importance in the capitalstructure The cause of this decrease is due to dollar deposit interest rate ceiling at 0%,the USD / VND was stable and make the psychological speculation of foreign currencydecreases

2.1.4.2 Capital lending

Table 2.2: Capital lending at Agribank Tay Do branch in the period of

2017-2019

(Unit: bil VND)

at 26% in 2019 is not too high, not capable of posing risks to the system Outstandingloans in local and foreign currencies of the branch are still quite

stable, not much change, the domestic currency still accounts for most of the branch'soutstanding loans.

Bad loans at Agribank Tay Do branch due to the overall increase of bad debts in thebanking market in this moment, but the proportion of bad loans/total outstanding loanswas at the low level, bad debt corporate customers were VND 92,806 million, accountingfor 2.8% of total outstanding loans, while non-performing loans for individual customerswere VND 39,929 million, accounting for 1.2% / total outstanding loans, while theBank's provisions on bad debt ratio is regulated by the government is below

3% , indicating that the branch's ability to recover debts is still at the allowed level Asmentioned above, the potential risk is currently almost unavailable, so the revenue forhandling risks at this time is also very low, insignificant compared to the totaloutstanding loans, reflecting a relatively good credit activity of Tay Do branch Thereason for the sharp increase in the revenue from the risk handling over the years (fromVND 200 million in 2017 to VND 25 billion in 2019) is that the whole Agribank system

in general and the Tay Do branch of Agribank have strengthened their review anddevelopment formulating and training regulations on seizure of collateral, resolvingdisputes related to collaterals, selling bad debts to asset management companies of creditinstitutions (VAMC) at market prices, exempting reducing outstanding interest according

to the principal repayment term, thereby encouraging customers to create sources of debtrepayment , linking bad debt handling with support, creating conditions for customers torestore production and business

Especially, if you compare the performance of capital borrowing and lending inAgribank branch Tay Do in 2019, it can be seen that the lending activity of the bank hasnot yet reach their full potential when their borrowed capital sources at branches in 2019,

it will reach about VND 9,936 billion while the loan outstanding is only about one third,reached VND 3,306 billion Therefore, Agribank leaders Tay Do branch should set

up some measures to enhance lending activities, support customers in the process ofusing services at the branch

2.1.4.3 Business result

Table 2.3: Business activities at Agribank Tay Do branch in the period of

2017-2019

(Unit: million VND)

Difference Targets

Revenue 757,514 648,279 479,306 109,235 16.8 168,973 26.1Expense 664,205 563,476 401,813 100,729 15.2 161,663 28.7

2.1.5 Orientation of Agribank Tay Do branch in the future

a For the year 2020

- Focusing on capital sources, striving to reach the borrowed capital of over VND15,000 billion, focusing on the capital of some units such as VNPOST, VNPT, VTV,Expressway Corporation, VAMC

- Continuing the work of assigning plans to each unit and individual, in which each individual officer mobilizes at least 1 billion dong / year.

- Develop outstanding loans to old customers, not to generate bad debts

- Recovery of debts Bad debts written off, the debt was sold VAMC: collect a minimum of 45 billion.

- Ensuring discipline, discipline, cadres comply with professional procedures

- The provision, transaction office summarizing business activities, assess thepresent have done, not done, develop a plan for 5 years to follow and propose solutionsfor implementation Review, emulate, propose reward and finalize salary to thestaff in accordance with the salary applicable at the branch

b Long-term orientation

With the vision of becoming the largest modern bank in Vietnam,developing safety - effectiveness - sustainability and international economic integration,Agribank prioritizes the following objectives:

- Maintaining and developing the position of a leading financial and credit service provider for agriculture, rural areas and farmers

- Implementing effective restructuring, standardize processes and regulations of Agribank according to international practices

- Establishing flexible mechanisms and policies, in line with market changes and themovement of the economy, constantly developing products, human resources anddistribution channels

2.2 The development of electronic banking services at Agribank Tay Do

branch in the period of 2017-2019

2.2.1 Overview of electronic banking services at Agribank Tay Do branch

Some electronic banking services at Tay Do branch:

2.2.1.1 E-mobile Banking

Agribank E-mobile Banking is a smart mobile application developed by Agribank

in cooperation with VNPAY, allowing individual customers to easily perform financialtransactions, experience payment utilities, and purchase anytime and anywhere placesincluding outside office hours, holidays, public holidays and New Year holidays

Useful properties of the product