Improving Internet Banking services at Vietnam Bank for Agriculture and Rural Development (Agribank) Thang Long Branch Tay Son Transaction OfficeProfessional bachelor degree in Finance Banking Insurance (Customer relationships management) WORK PLACEMENT REPORT Company Vietnam Bank for Agriculture and Rural Development Project title Improving I.
OVERVIEW OF VIETNAM BANK FOR AGRICULTURE AND RURAL DEVELOPMENT, AGRIBANK - THANG LONG BRANCH AND THE INTERNSHIP
Information of Agribank
- Name: Vietnam bank for Agriculture and Rural Development
- Location: 2 Lang Ha, Thanh Cong Ward, Ba Dinh District, Ha Noi
- Slogan: Bring prosperity to customers
- The letter S is the shape of the country of Vietnam.
- Website: www.agribank.com.vn
Agribank stands as the largest bank in Vietnam, leading in capital, assets, workforce, and customer base As of March 2007, Agribank's total capital reached approximately 26,700 billion VND, with an own capital of nearly 15,000 billion VND and outstanding loans of about 23,900 billion VND The bank maintained a low bad debt ratio of 1.9%, adhering to international standards By 2020, Agribank solidified its position as the premier state-owned commercial bank in Vietnam, boasting nearly 40,000 employees and 2,300 branches and transaction offices nationwide.
+ Range of product: Personal account, Business account, Saving account, Card service, International payments, E-Banking Services
With over 2,300 branches, Agribank boasts the largest network in the system and aims to leverage technology to extend its financial services to remote areas Through targeted programs, Agribank is dedicated to making banking services more accessible to customers, thereby enhancing the agricultural sector and transforming farmers' lives This initiative not only supports the growth of agriculture but also plays a crucial role in driving the country’s economic development by facilitating access to loans and banking services for individuals and businesses.
Information of Agribank - Thang Long Branch - Tay Son Transaction Office
- Location: 111 Thai Ha, Trung Liet Ward, Dong Da District, Ha Noi
+ Range of products: Personal account, Business account, Saving account, Card service, International payments, E-Banking Services
+ Target: Try to complete all the targets set by the branch Help to slap the desires that customers make Improve service quality and attract customers
+ The head of the accounting team
Introduction of my internship
1.3.1 The reason to choose the topic
The rapid development of information technology has significantly transformed the banking sector in Vietnam, with e-banking, online transactions, and internet payments emerging as key competitive trends Internet Banking services play a crucial role in modern banking operations, offering fast, cost-effective payment solutions and enhancing service quality This innovation not only boosts revenue and customer engagement but also streamlines customer service nationwide Additionally, it serves as a vital strategic tool for banks, necessitating continuous improvement and creative application to enhance business efficiency.
The evolution of Internet Banking services is crucial for enhancing a bank's competitiveness, diversifying product offerings, and improving customer convenience and speed Recognizing this trend, Agribank, particularly at the Thang Long Branch and Tay Son Transaction Office, is committed to modernizing its banking processes while refining traditional operations and expanding Internet Banking applications However, challenges and limitations persist in the development of these services Acknowledging the significance of Internet Banking in today's financial landscape, this research aims to assess the current status and propose solutions to elevate the quality of Internet Banking services at Agribank's Thang Long Branch and Tay Son Transaction Office, ultimately fostering customer trust and satisfaction.
Table 1: Internship plan at Thang Long Branch, Tay Son Transaction Office
From: 1/3 To: 8/3 - Started working at Tay
- Learn about Agribank and Tay Son transaction office
Thorough understanding of Agribank, Tay Son transaction office and Internet Banking service
From: 9/3 To: 25/3 - Learn, communicate with customers and how to perform operations to register for Internet Banking service along with other jobs of a banker
- Understand the work of an employee bank and know how to communicate with customers
From: 26/3 To: 6/5 - Survey of customers about the quality of Internet Banking services of Agribank, Tay Son Transaction Office
- Collect customer reviews about service quality
- Compare banks, branches or transaction offices located near Agribank, Thang Long Branch, Tay Son Transaction Office
From: 7/5 To: 14/5 SWOT analysis Find out weaknesses, strengths, opportunities and threats for Agribank's Internet Banking service
From: 15/5 To: 27/5 Completion my report - Find solutions to improve service quality and conclude
- Career plan in the near future
INTERNSHIP IMPLEMENTATION AT AGRIBANK – THANG LONG
The internship position, responsibilities and tasks
2.1.1 Department structure and internship position
Figure 2: Organization structure of Thang Long Branch, Tay Son Transaction
(Source: Agribank – Tay Son Transaction Office)
As an intern in the trading room, I assist at the counter, engaging with individual customers while being guided by Ms Nguyen Thi Thom, who oversees my activities at the transaction office.
2.1.2 Business procedure and work placement responsibilities
- Conditions to register for Internet Banking Agribank:
+ Customers who have a payment account in VND opened at Agribank.
+ Customers have registered for the service and accept the Terms and conditions of using Agribank's e-banking services.
+ Customers are not allowed to edit or cancel transactions that have been transferred to Agribank's electronic system.
- The process of registering Internet Banking services with individual customers at Agribank is as follows:
To open a VND payment account and register for Internet Banking at Agribank, simply visit the nearest branch or transaction office with your original ID Card The registration process is fast and completely free for all users.
+ Step 2: After successful registration, the bank staff will provide you: account name, password to log in to the system.
To access your Agribank Internet Banking account, log in for the first time and follow the system's prompt to change your password This step is crucial for ensuring the safety and security of your account, and you must update your password to continue using the service.
- For the convenience of Agribank Internet Banking registration, you need to note :
+ Visit the branch, transaction office of Agribank during office hours to get the best service.
To register for the service, customers are required to have a payment account in VND If you do not currently possess a bank account, you can easily open one during the service signup process.
+ Customers need to provide a phone number to integrate SMS Banking function to send transaction tracking information
During my internship at Agribank, I was entrusted with essential banking responsibilities that required a high level of accountability Working in such a professional environment, I learned the importance of maintaining focus, being meticulous, and exercising caution My goal was to diligently complete all assigned tasks and meet the objectives set for me.
- Always maintain a respectful attitude towards customers and all staff at the bank
- Answer all questions, questions of customers about the bank's products and services, especially Internet Banking services.
- Give suggestions and help new customers to use the bank's Internet Banking service
- Proficient in computer operations to be able to help people when needed Help with small jobs in the bank: photo of documents, scan documents,
- Receive and resolve customer complaints with the help of colleagues
During my first week at the bank, I gained valuable insights into Agribank's regulations, card products, and services, thanks to Ms Thom, who provided essential documents for my understanding She also introduced me to key personnel and their roles within the transaction office, helping me acclimate as an intern Additionally, I enhanced my computer skills by learning various office operations.
During my time at the bank, I observed my colleagues to gain a deeper understanding of banking operations I prioritized maintaining a respectful demeanor, warmly greeting customers and addressing their needs and inquiries to provide optimal solutions in collaboration with my team Additionally, I was responsible for organizing documents in the transaction room, ensuring that customers received the necessary paperwork for signing and returning it to the staff as needed.
Some business cases
- Address: Thai Ha, Dong Da, Ha Noi
- Step 1: She is currently a freshman so she wants to open a new account to support her studies away from home
To enhance convenience and efficiency in managing her finances, I recommended that she open a new bank account and register for Internet Banking This would streamline her ability to receive and transfer money, as well as shop online, eliminating the need for time-consuming trips to the bank.
- Step 3: She refused to register for an additional Internet Banking account because she thought it was unnecessary and cost an extra monthly fee to maintain.
- Customers do not agree to register for Agribank's Internet banking service
- Customers do not want to spend extra money to maintain monthly services
- Customers do not trust Agribank's Internet Banking service
- Not giving enough reasons to convince and satisfy customers
- Address: Pham Ngoc Thach, Dong Da, Ha Noi
Initially, he opened an account with Agribank but chose not to register for Internet Banking, deeming it unnecessary Subsequently, he visited the bank again to open an additional personal account to meet his specific needs.
- Step 2: I tried to convince him to sign up for Internet Banking by offering its benefits and convenience.
- Step 3: He hesitated, but then agreed to sign up for the bank's Internet Banking service
- Step 4: Prepare documents and guide customers on how to register for Internet Banking service
- Customers have successfully registered for Internet Banking service of the bank
- Attentive and enthusiastic customer service
- Customers already know more about the benefits that the service brings and trust the service quality of the bank
- Address: Thai Ha, Dong Da, Ha Noi
She currently works as an elementary school teacher and has opened a personal account at Agribank to receive her monthly salary Each month, she withdraws funds from this account to cover her family's expenses.
- Step 2: I convinced her to use Agribank's Internet Banking service to save time, pay bills or shop faster by pointing out the benefits that the service brings to customers.
Initially, she was reluctant to register for the service due to concerns about its complexity, time commitment, and ongoing monthly fees However, after some persuasion, she decided to give it a try and signed up.
- Step 4: Create a profile of customer information and guide customers through the steps to register to open an account and use the service.
- Customers have successfully registered for Internet Banking service of the bank
- Attentive and enthusiastic customer service
- Customers already know more about the benefits that the service brings and trust the service quality of the bank
- Address: Ton That Tung, Dong Da, Ha Noi
- Step 1: She is a new customer, first came to the transaction office with the purpose of opening a personal account of Agribank.
- Step 2: I persuaded and suggested her to register for Internet Banking service to be able to experience the benefits and quality of this service.
- Step 3: She refused to sign up for the service because she thought it was unnecessary, time consuming and expensive
- Customers do not agree to register for Agribank's Internet banking service
- Customers do not trust Agribank's Internet Banking service
- Not giving enough reasons to convince and satisfy customers
Service analysis
Survey start time: from March 26, 2022 to May 6, 2022
- Total number of customers surveyed: 120 But only 105 votes were successful, the remaining 15 votes were unsuccessful due to many reasons
In a survey of 105 participants, male customers represented a majority, with 55 individuals comprising 52.4% of the total, while female customers accounted for 50 individuals, or 47.6%.
Chart 2 illustrates the diverse age range of customers visiting the transaction office, with the majority being between 18 and 25 years old, representing 45 customers, or approximately 42.9% of the total The next significant demographic is the 25 to 35 age group.
39 customers, accounting for 37.1% The age group from 35-45 has 18 people, accounting for 17.1% The lowest is over 50 years old, only 2.9%, because they have little need to use Internet Banking services
Public servants Student Housewife Officer Retire
A recent survey reveals that students are the predominant users of Internet Banking services, comprising 41.9% of respondents Following them are officers, who account for 36.2% Public servants and housewives represent 12.4% and 6.7%, respectively, while retired customers make up the smallest segment at 2.9%.
Chart 4: Reasons why customers know about Internet Banking services
The survey reveals that customers primarily learn about Internet Banking services through recommendations from bank staff at transaction counters or referrals from relatives, friends, and colleagues However, Agribank's marketing efforts appear to be insufficient, indicating a need for enhanced communication and promotion through mass media to attract a broader customer base Additionally, there is a necessity to further develop and promote the bank's website to improve visibility and engagement.
Chart 5: The purpose of using Internet Banking services of customers
Transfer Pay the bill Loans Update information on fee schedules, exchange rates,
The chart indicates that the primary reasons customers utilize Agribank's Internet Banking service are for fund transfers and account balance inquiries Notably, female customers frequently use the platform for paying monthly bills and shopping Additionally, users engage with the service for various other tasks, including borrowing money and accessing updated information on exchange and interest rates, which enhances their knowledge and saves time.
Chart 6: Evaluate the quality of service use by customers
Totally agreeAgreeNormalDisagree
Many customers perceive Agribank's Internet Banking service as average, primarily using it due to job requirements While some appreciate the convenience and security it offers, a significant number express dissatisfaction with aspects such as the registration process, access speed, website stability, and transaction efficiency Despite these concerns, a considerable portion of users remains confident in the service's security and its ability to meet customer needs.
In the Vietnamese banking system, most banks allow customers to freely register for Internet Banking services However, users should be aware that there are monthly maintenance fees and charges for both intra-network and out-of-network money transfers.
Table 2: Compare fees of Internet Banking service among banks
Banks Service registration fee Service maintenance fee
=> Internet Banking maintenance fee of Vietinbank and Vietcombank ranges from 9,900 to 11,000 VND/month Particularly, Agribank applies the annual fee to maintain Internet Banking, the fee ranges from 50,000 VND/year.
* Internet Banking service of all 4 banks has the following basic functions:
- Query, update account information, available balance
- Pay bills for shopping, services such as buying air tickets, train tickets, paying electricity and water bills, recharge phones for prepaid subscribers
- Open an online savings account and close a savings account.
In addition, banks also have a number of separate products and functions as follows:
Table 3: Compare products and functions of Internet Banking service between banks
Agribank - Agribank has implemented many new products, functions and utilities in the card industry, including: Expanding the cash by code function (Cash by Code)
- Quick money transfer 24/7 via Napas Vietcombank - Deposit to stock trade account
- Associated with charity organisation: transfer money to accounts of charities.
- Insuarance payment for Vietcombank life insuarance-Cardif, associate with Prudential, AIA, Korea LifeLiberty, Dai-ichi Life, Manulife, PVI Sun life,
+ Regular loan repayment + Paying off credit card debt
- Send and finalize savings online:
+ Actively finalize the opening savings account at iPay in part or in full when necessary
+ Change the maturity method (re-maturity or settlement on maturity) at any time.
Techcombank - Receive and transfer money from abroad via Western Union.
- Transfer money to another bank via card number
Agribank's Internet Banking service lacks distinct advantages when compared to its competitors In contrast, Vietcombank excels by partnering with various organizations to enhance customer service Additionally, Techcombank and Vietinbank provide a wider range of products tailored to meet diverse customer needs.
Agribank's brand stands out as a significant advantage over other banks in the country Today, a strong brand is essential for fostering relationships and building trust with both domestic and international customers who utilize its services.
- Wide network of branches and diverse distribution channels
- Faster transaction with lower costs
- Agribank has applied advanced technologies and new solutions to payment activities to increase payment speed, enhance service safety and security, and increase customer experience and satisfaction.
- Marketing is not really effective, many people still do not know and use Internet Banking service of the bank
Service quality suffers from inadequate network quality, slow transmission speeds, and technical errors The lack of synchronized infrastructure, stemming from a widespread network of branches and transaction offices, hampers efforts to enhance and invest in advanced technology.
- Products and services and fee schedule are not competitive with other banks in the same area, so they have not attracted many customers to use the service.
- The level of technology, experience, and business management skills is limited, and the staff is not uniform.
- The covid-19 pandemic is an opportunity to increase transactions and payments via Internet Banking.
- Risk of fraud to steal customers' personal information before high-tech criminals
- The increase of competitors in the makes customers' habits change, including the use of digital banking
- People's awareness has gradually increased, the demand for quality and use of banking facilities is greater, so the opportunity to develop technological products is promising.
The rapid evolution of the financial market and the growing popularity of e-commerce are creating favorable conditions for banks to diversify their services With the infusion of modern technology and strong financial expertise from abroad, Vietnam is poised for significant advancements in its banking sector.
- As technology and technology develop, the costs for e-banking services also increase
- The economy is in the stage of development and integration, not really sustainable and easily broken when there are fluctuations.
KPI and KPR
- Rate of customers leaving the business < 10%
- Problem solving rate from the first call > 80%
- Rate of resolved issues/backlogs > 70%
- Rate of customers leaving the business = 9%
- Problem solving rate from the first call = 75%
- Rate of resolved issues/backlogs = 75%
2.4.3 Host firm assessment and recommendation
Agribank's Internet Banking service is currently underutilized, with many potential customers unaware of its benefits To enhance awareness and understanding, the Tay Son Transaction Office at the Thang Long branch should leverage mass media campaigns, as most users are currently introduced to the service through family, friends, or recommendations from bank staff.
The security of banking services plays a crucial role in customer decision-making, particularly regarding Internet Banking, where risks and privacy concerns are significant barriers To enhance customer trust and satisfaction, Agribank must prioritize solutions that safeguard personal information effectively By strengthening its defenses against high-tech criminal activities, Agribank can better protect customer interests and ensure a secure online banking experience.
The current registration process for Internet Banking at Agribank is cumbersome, requiring customers to complete the form in person with bank staff at the transaction counter This poses challenges for busy individuals who lack the time to visit the bank To enhance customer experience, Agribank should consider developing online registration options or providing a telephone registration service, allowing customers to sign up for Internet Banking conveniently and efficiently.
The rapid advancement of the internet and mobile technology has set the stage for significant growth in Internet Banking services However, many banks, including Agribank, still fall short of meeting customer needs, offering only basic functionalities like fund transfers and balance inquiries To enhance customer experience, Agribank must expand its service offerings and improve existing features by upgrading system quality and transmission lines It is essential to develop robust network infrastructure, especially in remote areas, to match the connectivity available in urban centers Additionally, training programs for employees should focus on enhancing their skills in customer service, problem-solving, and effective communication Encouraging customer feedback will also be vital in refining service quality and meeting user expectations.
INTERNSHIP ASSESSMENT
The difficulties encountered
During my internship at Agribank's Thang Long Branch, Tay Son Transaction Office, I faced several challenges Initially, I struggled to acclimate to the new work environment and connect with my colleagues The serious atmosphere made me feel lost and timid, as I was concerned about my communication skills Additionally, the differences in age, work experience, and expertise further complicated my ability to integrate with the team.
To enhance my understanding of the banking profession and gain valuable experience, I seek the guidance of a banker In my free time, I focus on improving my communication skills by engaging with others, which helps me adapt more quickly to the work environment.
One of the main challenges I face is translating my university learning into practical work experience While assisting bank staff, I often feel overwhelmed due to my limited skills and experience Customer inquiries sometimes exceed my current capabilities, highlighting the need for further knowledge and situational handling skills To improve, I actively observe my colleagues' interactions with customers, seeking to gain insights and enhance my professional expertise.
To successfully navigate the challenges of being a bank employee, I focused on adapting to the high-pressure environment and workload I made it a priority to listen attentively, learn from experienced colleagues, and meticulously document their guidance Additionally, I aimed to enhance my skills in managing customer interactions effectively.
Internship gained
During my internship at the transaction office, I gained valuable insights into the finance and banking sector, particularly in Internet Banking services Additionally, I enhanced my office computing skills and became proficient in various computer operations.
During my internship, I developed stronger relationships with my colleagues, who provided invaluable support throughout my experience This opportunity allowed me to engage more actively, enhance my social skills, and express my opinions with confidence Additionally, I learned the importance of being proactive in various situations, which has significantly contributed to my personal and professional growth.
Interacting with colleagues and customers in the workplace has significantly enhanced my communication skills, allowing me to engage more effectively and make a positive first impression I've learned to navigate conversations with customers politely and persuasively, which is crucial for convincing them to utilize our services Additionally, my proficiency in office computer operations has improved, enabling me to perform necessary tasks more efficiently.
Career plan
+ Complete and defend the internship report in the best way
+ Graduated from college with a desired degree
+ Spend more time with family and friends
Enhancing your language skills, particularly in English, is crucial for personal and professional growth Achieving an IELTS score of 6.0 and obtaining a computer certification can significantly boost your employability These qualifications will open doors to numerous opportunities, especially in prestigious banks and reputable companies in Vietnam.
Finding a job that aligns with my skills and interests is essential after graduation, despite the challenges and uncertainties that may arise I am determined to embrace various job opportunities to enhance my personal growth and accumulate valuable experience.
+ Do a stable job that is true to my profession and field of study I want to work at a big bank or maybe at a financial company
+ Financially independent, constantly trying to improve and develop yourself,take care of your family
In today's rapidly evolving socio-economic landscape and information technology sector, banks, particularly Agribank and its Thang Long Branch at the Tay Son Transaction Office, must prioritize continuous development, innovation, and enhancement of service quality to maintain a competitive edge Despite significant advancements in Internet Banking over the years, Agribank faces intense competition from both domestic and international banks Therefore, it is crucial for Agribank and its Thang Long branch to consistently improve service quality to mitigate potential risks This thesis aims to provide insights and solutions that can assist Agribank, Thang Long Branch, Tay Son Transaction Office in overcoming current challenges and enhancing customer service quality.
Survey form of customers' evaluation of Internet Banking service quality at Agribank, Thang Long Branch, Tay Son Transaction Office
As a final year student at the Faculty of Finance, Banking, and Insurance at the University of Commerce, I kindly request your assistance in completing this survey Your help is greatly appreciated Thank you!
4 Have you used Agribank's Internet Banking service ?
5 From what information source did you know about Agribank's Internet Banking service ?
6 What utilities do you often use when using Internet Banking services ?
󠇋 Update information on fee schedule, exchange rate, interest rate
Part 2: SERVICE QUALITY RATING (Please tick x before the answer you choose)
3 Easy-to-use utility tools
4 Website works fine, no crashes
5 Quick and accurate registration process
6 Transactions are done quickly and accurately
7 Financial information is highly confidential
8 Stay up-to-date with service-related information as well as other services
9 Services that satisfy the needs of customers
10 The personal information is updated completely and accurately
11 Services create trust from customers
LIST OF REFERENCES https://www.agribank.com.vn/ https://thuthuat.taimienphi.vn/so-sanh-phi-dang-ky-internet-banking-giua-cac- ngan-hang-59076n.aspx
(To be completed by the Intern Supervisor)
Student Intern Name: Date of Internship:
This form aims to give the intern constructive feedback on their work performance and professional skills It is essential to be objective and honest in your evaluation, and to engage in a discussion about the assessment with the intern The rating scale for the assessment ranges from 1 to 5, with the appropriate number to be circled.
1= Unsatisfactory Never demonstrates this ability / does not meet expectations
Improvement Seldom demonstrates this ability / rarely meets expectations
3= Fair Sometimes demonstrates this ability / meets expectations
4= Good Usually demonstrates this ability / sometimes exceed expectations5= Excellent Always demonstrates this ability / consistently exceeds expectations
Student Intern assessment (Circle the appropriate number)
1 Observes and/or pays attention to others 1 2 3 4 5
2 Asks pertinent and purposeful questions 1 2 3 4 5
3 Seeks out and utilizes appropriate resources 1 2 3 4 5
4 Accepts responsibility for mistakes and learns from experiences 1 2 3 4 5
5 Open to new experiences; takes appropriate risks 1 2 3 4 5
1 Reads, comprehends and follows written materials 1 2 3 4 5
2 Communicates ideas and concepts clearly in writing 1 2 3 4 5
3 Works with mathematical procedures appropriate for the assigned duties.
C Listening and Oral Communication Skills
1 Listens to others in an active and attentive manner 1 2 3 4 5
2 Comprehends and follows verbal instructions 1 2 3 4 5
3 Effectively participates in meetings or group settings 1 2 3 4 5
4 Demonstrates effective verbal communication skills 1 2 3 4 5
D Creative Thinking and Problem Solving Skills
1 Seeks to comprehend and understand the “big picture” 1 2 3 4 5
2 Breaks down complex tasks/problems into manageable pieces 1 2 3 4 5
3 Brainstorms/develops options and ideas 1 2 3 4 5
4 Respects input and ideas from other sources and people 1 2 3 4 5
E Professional and Career Development Skills
1 Seeks to understand personal strengths and weaknesses 1 2 3 4 5
2 Exhibits self-motivated approach to work 1 2 3 4 5
3 Demonstrates ability to set appropriate priorities/goals 1 2 3 4 5
Age
Chart 2 illustrates that the transaction office attracts a diverse age range of customers, with the majority falling between 18 to 25 years old, comprising 42.9% of the total with 45 customers Following this group, the 25 to 35 age bracket also shows significant representation.
39 customers, accounting for 37.1% The age group from 35-45 has 18 people,accounting for 17.1% The lowest is over 50 years old, only 2.9%, because they have little need to use Internet Banking services
Job
Public servants Student Housewife Officer Retire
A recent survey revealed that students are the predominant users of Internet Banking services, comprising 41.9% of respondents Following them are officers, who make up 36.2% of users, while public servants and housewives account for 12.4% and 6.7%, respectively Retired customers represent the smallest segment, with only 2.9% of the total respondents utilizing Internet Banking.
Chart 4: Reasons why customers know about Internet Banking services
The survey indicates that customers primarily learn about Internet Banking services through recommendations from bank staff at transaction counters or from relatives, friends, and colleagues However, Agribank's marketing efforts appear to be lacking effectiveness To enhance customer attraction, the bank should increase its communication and promotional activities across mass media and further develop its website.
Chart 5: The purpose of using Internet Banking services of customers
Transfer Pay the bill Loans Update information on fee schedules, exchange rates,
The data reveals that customers primarily utilize Agribank's Internet Banking service for fund transfers and checking account balances Notably, female users frequently engage with the platform for paying monthly bills and shopping Additionally, customers leverage the service for various purposes, including borrowing money and accessing updated information on exchange and interest rates, which enhances their knowledge and saves time.
Chart 6: Evaluate the quality of service use by customers
Totally agreeAgreeNormalDisagree
Many customers perceive Agribank's Internet Banking service as average, often signing up due to job requirements rather than enthusiasm While some users appreciate the convenience and security offered, a significant portion remains dissatisfied with aspects such as the registration process, access speed, website stability, and transaction efficiency Despite these concerns, a considerable number of customers express confidence in the service's security and its ability to meet their needs.
In Vietnam, most banks offer customers the option to register for Internet Banking services at no initial cost However, users should be aware that there are monthly maintenance fees and charges for both intra-network and out-of-network money transfers while using the service.
Table 2: Compare fees of Internet Banking service among banks
Banks Service registration fee Service maintenance fee
=> Internet Banking maintenance fee of Vietinbank and Vietcombank ranges from 9,900 to 11,000 VND/month Particularly, Agribank applies the annual fee to maintain Internet Banking, the fee ranges from 50,000 VND/year.
* Internet Banking service of all 4 banks has the following basic functions:
- Query, update account information, available balance
- Pay bills for shopping, services such as buying air tickets, train tickets, paying electricity and water bills, recharge phones for prepaid subscribers
- Open an online savings account and close a savings account.
In addition, banks also have a number of separate products and functions as follows:
Table 3: Compare products and functions of Internet Banking service between banks
Agribank - Agribank has implemented many new products, functions and utilities in the card industry, including: Expanding the cash by code function (Cash by Code)
- Quick money transfer 24/7 via Napas Vietcombank - Deposit to stock trade account
- Associated with charity organisation: transfer money to accounts of charities.
- Insuarance payment for Vietcombank life insuarance-Cardif, associate with Prudential, AIA, Korea LifeLiberty, Dai-ichi Life, Manulife, PVI Sun life,
+ Regular loan repayment + Paying off credit card debt
- Send and finalize savings online:
+ Actively finalize the opening savings account at iPay in part or in full when necessary
+ Change the maturity method (re-maturity or settlement on maturity) at any time.
Techcombank - Receive and transfer money from abroad via Western Union.
- Transfer money to another bank via card number
Agribank's Internet Banking service lacks distinct features when compared to competitors In contrast, Vietcombank excels by partnering with various organizations to enhance customer service Additionally, Techcombank and Vietinbank provide a wider range of products tailored to meet diverse customer needs.
Agribank's brand stands out as a significant advantage over other banks in the country In today's competitive landscape, a strong brand is essential for fostering relationships and building trust with both domestic and international customers who utilize its services.
- Wide network of branches and diverse distribution channels
- Faster transaction with lower costs
- Agribank has applied advanced technologies and new solutions to payment activities to increase payment speed, enhance service safety and security, and increase customer experience and satisfaction.
- Marketing is not really effective, many people still do not know and use Internet Banking service of the bank
The quality of service is compromised by inadequate network quality, slow transmission speeds, and frequent technical errors Additionally, the lack of synchronized infrastructure, stemming from a vast network of branches and transaction offices, poses challenges for enhancing and investing in advanced technology.
- Products and services and fee schedule are not competitive with other banks in the same area, so they have not attracted many customers to use the service.
- The level of technology, experience, and business management skills is limited, and the staff is not uniform.
- The covid-19 pandemic is an opportunity to increase transactions and payments via Internet Banking.
- Risk of fraud to steal customers' personal information before high-tech criminals
- The increase of competitors in the makes customers' habits change, including the use of digital banking
- People's awareness has gradually increased, the demand for quality and use of banking facilities is greater, so the opportunity to develop technological products is promising.
The rapid development of the financial market and the growing popularity of e-commerce are creating favorable conditions for banks to diversify their service offerings With the influx of modern technology, robust financial resources, and professional management expertise from abroad, Vietnam is poised for significant advancements in its banking sector.
- As technology and technology develop, the costs for e-banking services also increase
- The economy is in the stage of development and integration, not really sustainable and easily broken when there are fluctuations.
- Rate of customers leaving the business < 10%
- Problem solving rate from the first call > 80%
- Rate of resolved issues/backlogs > 70%
- Rate of customers leaving the business = 9%
- Problem solving rate from the first call = 75%
- Rate of resolved issues/backlogs = 75%
2.4.3 Host firm assessment and recommendation
Agribank's Internet Banking service is currently underutilized, as many individuals remain unaware of its benefits To enhance awareness and understanding, the Tay Son Transaction Office at the Thang Long branch must leverage mass media channels Most users learn about the service through recommendations from family, friends, or bank staff, highlighting the need for a more proactive marketing approach to reach a wider audience.
The security of banking services significantly influences customer decisions, particularly regarding Internet Banking, where risks and privacy concerns pose major challenges To enhance customer trust and satisfaction, Agribank must implement robust solutions to safeguard personal information effectively By strengthening its defenses against high-tech criminal activities, Agribank can better protect customer interests and ensure a secure banking experience.
The current registration process for Internet Banking at Agribank is cumbersome, requiring customers to complete the form in person at the transaction counter with bank staff assistance This poses a challenge for busy customers who lack the time to visit the bank To enhance customer convenience, Agribank should explore and implement online registration options or allow customers to register via phone, thereby saving time and improving accessibility to the service.
The rapid advancement of the internet and mobile technology has created significant opportunities for Internet Banking services; however, many banks, including Agribank, still fall short in meeting customer needs beyond basic functions like transfers and balance inquiries To enhance customer experience, Agribank should focus on expanding its service offerings and improving existing functionalities This includes upgrading system quality and transmission lines to ensure reliable service even in remote areas, matching the connectivity of urban centers Additionally, it is crucial for transaction offices to invest in employee training to enhance their skills in customer communication and problem-solving Encouraging customer feedback will also be essential in refining service quality and meeting user expectations.
PART 3: INTERNSHIP ASSESSMENT 3.1 The difficulties encountered
During my internship at Agribank's Thang Long Branch, Tay Son Transaction Office, I faced several challenges Initially, I struggled to acclimate to the new work environment and build rapport with my colleagues The serious atmosphere made me feel lost and timid, as I was concerned about my communication skills Additionally, the differences in age, work experience, and expertise made it difficult for me to connect with others.
To enhance my understanding of the banking profession and gain valuable experience, I seek assistance from a banker In my free time, I actively engage with others, fostering communication and openness to facilitate my integration into the workplace and adapt to the professional environment.
The purpose of using Internet Banking services of customers
Transfer Pay the bill Loans Update information on fee schedules, exchange rates,
The data indicates that customers primarily utilize Agribank's Internet Banking service for fund transfers and account balance inquiries Notably, female users tend to engage in activities such as paying monthly bills and shopping online Additionally, the platform serves various other functions, including money borrowing and accessing updated information on exchange and interest rates, ultimately helping customers save time and enhance their financial management.
Evaluate the quality of service use by customers
Totally agreeAgreeNormalDisagree
Many customers perceive Agribank's Internet Banking service as average, primarily using it due to job requirements While some appreciate the convenience and security it offers, a significant portion remains dissatisfied with aspects such as the registration process, access speed, website stability, and transaction efficiency Despite these concerns, a considerable number of users express confidence in the service's security and its ability to meet customer needs.
Most Vietnamese banks allow customers to register for Internet Banking services without any initial fees However, users should be aware that there are monthly maintenance fees and charges for both intra-network and out-of-network money transfers.
Table 2: Compare fees of Internet Banking service among banks
Banks Service registration fee Service maintenance fee
=> Internet Banking maintenance fee of Vietinbank and Vietcombank ranges from 9,900 to 11,000 VND/month Particularly, Agribank applies the annual fee to maintain Internet Banking, the fee ranges from 50,000 VND/year.
* Internet Banking service of all 4 banks has the following basic functions:
- Query, update account information, available balance
- Pay bills for shopping, services such as buying air tickets, train tickets, paying electricity and water bills, recharge phones for prepaid subscribers
- Open an online savings account and close a savings account.
In addition, banks also have a number of separate products and functions as follows:
Table 3: Compare products and functions of Internet Banking service between banks
Agribank - Agribank has implemented many new products, functions and utilities in the card industry, including: Expanding the cash by code function (Cash by Code)
- Quick money transfer 24/7 via Napas Vietcombank - Deposit to stock trade account
- Associated with charity organisation: transfer money to accounts of charities.
- Insuarance payment for Vietcombank life insuarance-Cardif, associate with Prudential, AIA, Korea LifeLiberty, Dai-ichi Life, Manulife, PVI Sun life,
+ Regular loan repayment + Paying off credit card debt
- Send and finalize savings online:
+ Actively finalize the opening savings account at iPay in part or in full when necessary
+ Change the maturity method (re-maturity or settlement on maturity) at any time.
Techcombank - Receive and transfer money from abroad via Western Union.
- Transfer money to another bank via card number
Agribank's Internet Banking service lacks distinct advantages compared to its competitors In contrast, Vietcombank excels by partnering with various organizations to enhance customer service Additionally, Techcombank and Vietinbank provide a wider range of products tailored to meet diverse customer needs.
Agribank's brand is a significant advantage over other banks in the country, serving as a crucial tool for fostering relationships and building trust with both domestic and international customers who utilize its services.
- Wide network of branches and diverse distribution channels
- Faster transaction with lower costs
- Agribank has applied advanced technologies and new solutions to payment activities to increase payment speed, enhance service safety and security, and increase customer experience and satisfaction.
- Marketing is not really effective, many people still do not know and use Internet Banking service of the bank
Service quality is compromised by factors such as inadequate network quality, slow transmission speeds, and technical errors Additionally, the lack of synchronized infrastructure, stemming from a widespread network of branches and transaction offices, hampers efforts to enhance and invest in advanced technology.
- Products and services and fee schedule are not competitive with other banks in the same area, so they have not attracted many customers to use the service.
- The level of technology, experience, and business management skills is limited, and the staff is not uniform.
- The covid-19 pandemic is an opportunity to increase transactions and payments via Internet Banking.
- Risk of fraud to steal customers' personal information before high-tech criminals
- The increase of competitors in the makes customers' habits change, including the use of digital banking
- People's awareness has gradually increased, the demand for quality and use of banking facilities is greater, so the opportunity to develop technological products is promising.
The rapid evolution of the financial market and the increasing popularity of e-commerce are driving banks to diversify their service offerings With the infusion of modern technology and strong financial resources, along with professional management expertise from abroad, the future of banking in Vietnam looks promising.
- As technology and technology develop, the costs for e-banking services also increase
- The economy is in the stage of development and integration, not really sustainable and easily broken when there are fluctuations.
- Rate of customers leaving the business < 10%
- Problem solving rate from the first call > 80%
- Rate of resolved issues/backlogs > 70%
- Rate of customers leaving the business = 9%
- Problem solving rate from the first call = 75%
- Rate of resolved issues/backlogs = 75%
2.4.3 Host firm assessment and recommendation
Agribank's Internet Banking service is currently underutilized, with many potential users unaware of its benefits To enhance awareness and understanding of this service, the Tay Son Transaction Office at the Thang Long branch should leverage mass media outreach Most customers learn about the service through referrals from friends, relatives, or recommendations from bank staff, highlighting the need for a more proactive marketing strategy.
The security of banking services plays a crucial role in influencing customer decisions, particularly in Internet Banking, where risks and privacy concerns are significant barriers To enhance customer trust and satisfaction, Agribank must implement robust solutions to safeguard personal information effectively This involves continuously improving their security measures to combat the evolving threats posed by high-tech criminals, ensuring the protection of customer interests remains a top priority.
The current registration process for Internet Banking at Agribank is cumbersome, requiring customers to complete it in person at the transaction counter with the assistance of bank staff This poses a challenge for busy individuals who may not have the time to visit the bank To enhance customer convenience, Agribank should consider developing online registration options or providing a telephone registration service, allowing customers to sign up for Internet Banking more efficiently.
The rapid advancement of the internet and mobile technology has set the stage for significant growth in Internet Banking services However, many banks, including Agribank, still fall short in meeting customer needs, primarily offering basic functions like fund transfers and account balance checks To enhance customer experience, Agribank must expand its service offerings and improve existing features by upgrading system quality and transmission lines It is essential to develop robust network infrastructure to ensure reliable service in remote areas, similar to urban centers Additionally, enhancing employee training in customer service, communication, and problem-solving skills is crucial Encouraging customer feedback and suggestions will further help improve service quality and meet customer expectations.
PART 3: INTERNSHIP ASSESSMENT 3.1 The difficulties encountered
During my internship at Agribank's Thang Long Branch, I faced several challenges as I adjusted to a new working environment Initially, I struggled to adapt to the serious atmosphere and often felt lost and timid, particularly in communicating effectively with my colleagues The differences in age, work experience, and expertise further complicated my ability to connect with others in the office.
To enhance my understanding of the banking profession and gain valuable experience, I seek the guidance of a banker During my free time, I focus on improving my communication skills and actively engaging with others to facilitate a smoother integration into the workplace.
One of the main challenges I face is applying my university knowledge to real-world scenarios, particularly while supporting bank staff I often feel embarrassed by my limited skills and experience, especially when customer inquiries exceed my capabilities To overcome this, I recognize the need for additional learning and practical experience I've been actively observing my colleagues’ interactions with customers to gain insights and enhance my professional knowledge.
To successfully navigate the challenges of being a bank employee, I focused on adapting to the high-pressure environment and workload I made it a priority to listen attentively, learn from experienced colleagues, and meticulously document their guidance, while also striving to enhance my skills in managing customer interactions effectively.
During my internship at the transaction office, I gained valuable insights into the finance and banking sector, particularly in Internet Banking services Additionally, I enhanced my office computing skills and became proficient in various computer operations.