Tien Phong Commercial Joint Stock Bank (TPBank) and Mavin Group were selected as the winners from Vietnam in the 2021 ASEAN Enterprise Innovation Award, presented by AIBP. The 2021 edition of the award saw over 130 nominations across 5 countries, narrowed down to 27 finalists and 10 eventual winners – two of which came from Vietnam.
TPBank: Harnessing Digital Technologies for Seamless Customer Journeys
TPBank is the 30th largest company on the Vietnam Stock Exchange with a market capitalisation of US$ 220 million (VND 55.069 trillion) as of 7 December 2021, serving nearly 4 million individual and corporate customers.
TPBank is working towards the goal of directing customers to a digital first operating model that reduces physical interactions through a comprehensive digital transformation strategy. They have been accelerating developments in the back-end through the application of Robotic Process Automation. At the same time, TPBank is also introducing various electronic services on the customer-facing end, including an electronic Know Your Customer (e-KYC), allowing customers to open bank accounts entirely online.
Mavin Group’s Digital Transformation From Farm to Table
One of Vietnam’s top ten agribusinesses, Mavin Group is a fully integrated farm-to-table company founded in 2004, with operations in feed mills, veterinary medicine, and food manufacturing plants and farms throughout Vietnam. Mavin Group has been listed on the VNR500 every year since 2014.
Having grown from one feed mill to a complex end-to-end farming supply chain enterprise, Mavin Group embarked on a 5-year (2019-2023) digital transformation program and aims to build the most innovative digital company in Vietnam’s agricultural industry. Mavin Group is looking into the use of drones and handheld applications in the near future, as well as expanding the potential of smart farming, smart agriculture, and the Internet of Things.
Both projects by TPBank and Mavin Group resonate with the findings in the annual AIBP ASEAN Innovation Survey, with data analytics analytics (65%), Internet of Things (44%), artificial intelligence (34%), machine learning (34%), and robotic process automation (33%) the top 5 technologies enterprises in ASEAN are looking to invest in over the next 2-3 years.
About AIBP ASEAN Enterprise Innovation Award
Established in 2017, the key objective of the annual AIBP Enterprise Innovation Award is to give recognition to organisations who have embarked on projects to digitally transform their business through the adoption of innovative technology. The awards are held annually in the following ASEAN countries: Indonesia, Malaysia, Philippines, Thailand and Vietnam.
AIBP serves as an avenue for public and private organisations in Southeast Asia to access and exchange information about growth and innovation within the B2B space. With a current network of over 30,000 stakeholders in Southeast Asia, AIBP continues to develop ecosystems by engaging in activities which create value-adding information for our stakeholders seeking to make transformative impacts within their organisations.
3 January 2022