Improving Credit Card Services For Individual Customers Of Vietnam International Bank (VIB) , Cau Giay Branch Professional bachelor degree in Finance Banking Insurance (Customer relationships management) WORK PLACEMENT REPORT Improving Credit Card Services For Individual Customers Of Vietnam International Ban.
OVERVIEW OF VIB AND THE INTERNSHIP
Company
Name: Vietnam International Bank (VIB)
Slogan : “The heart of banking”
Location : CornerStone building, 16 Phan Chu Trinh, Phan Chu Trinh ward, Hoan Kiem, Hanoi
Vietnam International Bank currently operates over 160 branches and transaction offices across 27 provinces and cities nationwide The highest concentration of these locations is in Ho Chi Minh City, with 46 branches, followed by Hanoi with 38 branches, and Hai Phong City with 8 branches, alongside various other provinces and cities.
Number of employees : VIB currently has more than 10,000 employees
Activity : VIB operates mainly in the field of capital mobilization and credit lending
In addition, the Bank also participates in international payment activities, foreign exchange business, financial investment, risk management and capital preservation
VIB aims for robust growth from 2022 to 2026, targeting a compound annual profit growth of over 30% and a fivefold increase in capitalization The bank plans to expand its customer base to over 10 million, positioning itself as a leader in the retail market by focusing on quality and scale, supported by a strong foundation of technology and management.
Host Firm
Location: 1st floor, CTM Building, 299 Cau Giay, Cau Giay District,Hanoi
Number of employees : about 130 employees
Size : The branch has 3 transaction offices in the same area: My Dinh, Quan Hoa and Hoang Quoc Viet transaction offices
+ Card products: Credit card, VIB Values domestic payment card (ATM))
+Digital banking services: Mobile banking (Myvib), E-banking (My Online Bank), SMS banking (SMS Banking)
+Savings service: Online deposit, Target savings, Foreign currency savings (EURO and AUD)
+Loan services: Home loan, car purchase, consumer loan
+Insurance services: Provide comprehensive insurance packages suitable for many subjects including: Pru Flexible Investment, Pru Optimal Protection, Health
Protection VIB Care, Pru Lifetime Peace of Mind, Pru Life Peace, Pru bright future.
Introduction of my internship
The demand for payment cards, particularly credit cards, is on the rise as customers seek convenient, non-cash payment methods that save time and reduce costs, especially in the context of the ongoing COVID-19 pandemic The "spend before, pay later" feature aligns well with current consumer trends As competition in credit activities intensifies, customer preferences are becoming crucial for banks' survival VIB has been offering credit card services since its inception and has seen some success; however, it has also encountered significant challenges, notably due to the impacts of COVID-19 In Vietnam, credit card usage remains limited, with many individuals aware of the benefits yet hesitant to adopt them due to concerns over fees and interest rates This highlights the need for improved credit card services tailored to individual customers in Vietnam.
The analysis of the credit card services at International Bank (VIB), Cau Giay Branch, reveals both advantages and disadvantages To enhance customer satisfaction and improve the overall credit card experience, several solutions will be proposed.
Table 1 : Internship plan at VIB –Cau Giay Branch
Task 1 : Learn about the general rules and principles at the place intern
Task 2: Research documents, information about credit cards: characteristics, interest rates, procedure,
Understand the necessary information about credit card services
From 31th March to 14 th
Task3 : Collect data, list, build relationships to find
Collect a list of potential customers
7 | P a g e potential customers From:.14 th To 20 th
Task 4 : learn negotiate with the customer
Know how to solve problems encountered with customers
From 21th April to 9 th
Task 5 : Create a customer survey and conduct analysis
Task 6 : Analyse the SWOT matrix
Understand the strengths, weaknesses,opportunities, and challenges of the bank From 20 th to 27 th
Report and evaluate the internship
Complete the internship report and make suggestions to improve the service quality of the internship place
INTERNSHIP IMPLEMENTATION AT VIB,CAU GIAY BRANCH
The internship position, responsibilities and tasks
2.1.1 Department structure and internship position
Figure1: Structure of VIB –Cau Giay Branch
I am currently interning at The Credit Department, where I am guided by Ms Bui Thi Hien, my direct tutor and the Customer Relationship Manager at the bank.
2.1.2 Business procedure and work placement responsibilities
As an intern in the credit department at VIB Cau Giay, I assist bank staff with credit card opening transactions for customers, allowing me to gain valuable insights into the bank's culture and work environment My primary responsibilities include supporting the team in various aspects of the credit card process.
- Print, scan, copy legal documents of customers , ask for the signature of the director
- Call customers according to the data provided by superiors
- Consulting, answering and taking care of customers about credit cards
- Go with the bank staff to meet the customer to sign and confirm the legal documents to open the card
I interned at banks on Mondays, Wednesday and Fridays Mornings start from 8am to 12pm and afternoons from 1pm to 5pm Detailed tasks are shown in the table below :
Table 2 : Time and Daily tasks at VIB Cau Giay Branch
In the morning ( 8 am-12 am) In the afternoon (1pm-5pm)
Monday -Having a meeting with the Credit
Department about working plan for the week
-Read the document about the information of credit cards (features, classifications, interest rates, ) and ask the tutor any questions i still wonder
-Support the bank staff to set up records, photocopy, scan necessary documents, enter customer list into the system
Wednesday -Read the document about the information of credit cards and ask the tutor any questions i still wonder
-Call customers based on the available list and advise customer to choose suitable credit cards
-Support the bank staff to set up records, photocopy, scan necessary documents,
-Ask for the signature of the Branch Director to confirm the records
-Go with the bank staff to meet the customer directly to sign the confirmation
Friday -Read the document about the information of credit cards and ask the tutor any questions i still wonder
-Call customers based on the available list and advise customer to choose suitable credit cards
-Support the bank staff to set up records, photocopy, scan necessary documents,
-Ask for the signature of the Branch Director to confirm the records
-Go with the bank staff to meet the customer directly to sign the confirmation
Introduce about credit card service (For individual customers) of VIB
VIB Bank currently offers a diverse range of 10 credit cards, including popular options like VIB Online Plus, VIB Premier Boundless, and VIB Zero Interest Rate Among these, the VIB Cau Giay Branch is particularly focused on developing two standout cards, enhancing customer choice and convenience in financial services.
“VIB Online Plus 2in1” and “VIB Travel Elite” The characteristics of the 2 types of cards are shown in the table below:
Table 3 : Information about 2 types of credit card of VIB Cau Giay
This is the first card that integrates credit cards and debit cards in Southeast Asia It is the most registered by customers at VIB Cau Giay branch
Feature Statement date: 10th of every month
Payment date: after 25 days from the date of statement Interest-free period: up to 55 days Interest rate: 3%/month
Annual fee: 599,000 VND Limit: 15 to up to 600 million VND Validity period : 5 years
Statement date: 20th of every month
Payment date: 25 days from the date of statement
Interest-free period: up to 55 days Interest rate: 2.33%/month
Annual fee: 1.299.000 VND Foreign transaction fee : only 1.75% Limit: 60 million- up to 2 billion VND Validity period : 5 years
-Nationality: Vietnamese Foreigners are allowed to reside in Vietnam for 12 months
Terms and conditions to open credit card or more
- Address of residence/working: In the provinces/cities with branches/transaction offices of VIB
-Age of Primary Cardholder: from full 20 years old to 65 years old -Supplementary cardholder: from 15 years old and up
-Minimum 12 months working time Official labor contract with a term of 12 months or more -No bad debt within the last 2 years
Income Minimum average income in the last 3 months: 7 million VND
Minimum average income in the last 3 months: 20 million VND
Benefits - 0% interest rate installment at Shopee,
Mobile World, Dien May Xanh, VUS, Apax Leaders,
- Cashback 100% of the first Grab transaction value up to 300,000vnd
-Cashback 100% of the first year annual fee when the total accumulated spend spending value is from VND 5,000,000 within 30 days from card issued date;
- Discount 50.000 VND for GrabFood orders with a minimum value of 100.000 VND, 25.000 VND discount for GrabCar / GrabBike orders with a minimum value from 50.000 VND, applied on Monday, Wednesday, Friday every week
-Discount up to 30% on dining, online shopping, travel at more than 25 leading brands in Vietnam such as: Kichi-Kichi, iSushi, Shopee, Tiki, Sendo,
Customers can freely shop and travel without worrying about cost :
- Cardholders are free to spend and shop abroad with a foreign currency transaction fee of only 1.75% - This is the best fee on the market today
- Privilege to use more than 1,000 lounges at airports around the world with free use 4 times/year
- Earn miles and redeem award for every spend : with 25,000vnd accumulative domestic spending 1 mile
- Free travel insurance package with value up to 500,000 USD
- Application form to open card
- Personal profile including Copy of Identity Card/ Citizen ID/ Passport and Copy of
- Proof of income including Copy of Labor Contract and Original Salary Statement
Procedures Open card directly at VIB transaction offices/branches:
Step 1: Fill in the information on VIB's card application form and provide the necessary documents
Step 2: Wait for the bank staff to check the information
Step 3: Customer is provided with a credit limit
Step 4: The customer is issued a card after about 5 to 7 working days after the records is approved
Step 1: Register to open a VIB credit card at the link: https://www.vib.com.vn/vn/the-tin-dung/dang-ky , choose the suitable card product Step 2: Take a photo of your ID/CCCD and a portrait to perform eKYC
Step 3: VIB appraises and approves the application in just 30 minutes Step 4: VIB issues cards on the system
Step 5: VIB will comment, verify your information through face-to-face meeting to hand over the card and collect the card issuance application form with customer’s signature, hard copy documents (if any).
Some business cases
2.3.1 Case No1 (failed - customer risk)
The information of financial products and services
Name: VIB Online Plus 2 in1 Type : Platinum
Fee: 599,000 VND Limit: 15- up to 600 million VND
Statement date: 10th of every month Payment date: after 25 days from the date of statement Interest-free period: 55 days
The information of (a real) customer
Name : Dang Trung Luan Sex : Male
Age : 23 Work place: Gamuda urban area, Yen So ward, Hoang Mai district, Hanoi Purpose of opening card: Personal spending
The financial position of customer
Customers do freelance work, no specific job, unstable income
Risk Customers who cannot prove his income and work will not be able to pay the debts, easily generating bad debts
Negotiations I have explained to the customer that the condition to open a credit card is he must prove his work and income to consider his ability to pay
Upon discovering that he did not fulfill all the requirements for opening a credit card, I requested his identity card for the appraisal department to review his credit history However, he declined to provide it, suggesting that he may be concealing a late loan payment.
I rejected this case because customer has a lot of financial risk
Results Failure due to customer risk
2.3.2 Case No2 (failed – customer’s needs)
The information of financial products and services
Name: VIB Online Plus 2 in1 Type : Platinum
Fee: 599,000 VND Limit: 15- up to 600 million VND Statement date: 10th of every month Payment date: after 25 days from the date of statement Interest-free period: 55 days
The information of (a real) customer
Name : Lam Thi Ngoc Ha Sex : Female
Age : 25 Address: No 22, Alley 59 Pham Van Dong Street, Cau Giay District, Hanoi
Work place: 3rd floor My Dinh Plaza 2 Building, No 2 Nguyen Hoang, My Dinh 2, Nam Tu Liem, Hanoi
Card opening purpose: shopping online Desired limit: 50 million VND
The financial position of customer
The customer is a data entry worker at Phuong Chi Software Company, with income of 8 million per month
=> Customer has stable income, salary is paid monthly through bank account
The customer risk Customers want a high payment limit but the salary is quite low
Negotiations When I got the customer's information, I advised her about the program to open a credit card from the salary
With this program, the card limit will be 3 times her received salary It means that the customer's salary is 8 million, 3 times the salary will be 8x3= 24 million,
15 | P a g e smaller than the limit proposed by the customer (50 million)
I asked customer for additional proofs of revenue to increase his credit card limit, but she refused
Results Failure due to customer’s needs
The information of financial products and services
Name : VIB travel elite Type : World
Fee: 1,299,000 million VND Limit: 60 up to 2 billion VND Statement date: 20th of every month Payment date: after 25 days from the date of statement Interest-free period: 55 days
The information of (a real) customer
Name : Pham Minh Nhat Sex : Male
Age : 28 Address: 58 Tran Binh, Mai Dich, Hanoi
Work place: 28 Nguyen Hong, Lang Ha Ward, Dong Da District, Hanoi
Purpose of card opening: Traveling, paying bills
The financial position of customer He works as a lecturer at Oxford English Center, earning 40 million per month
Having a VP bank credit card with a limit of 70 million VND
The customer risk Because customers have credit cards from other banks, it is possible that there will be over-spending, delay or forget to pay
Negotiations During the process of receiving documents and contacting customers who need to open a credit card for personal spending
I have advised customers about the program to open a credit
The "card to card" program offers customers an approved limit ranging from 70% to 130% of their existing credit card limit, facilitating a quicker process for those who already hold credit cards from other banks.
After reaching out to the customer, I confirmed that he has met specific criteria: he has been using a credit card from a different bank for over a month and has maintained his spending below 90% of the card's total limit.
After reviewing his credit history through the CIC, it is clear that he has no bad debts and maintains a strong credit score Furthermore, his high and stable income ensures his ability to repay any debt As a result, he qualifies for a credit card with an approved limit of 100 million VND.
I contacted and scheduled a meeting with the customer to sign the confirmation in the credit card opening form and he agreed
Service analysis
The primary goal of this research is to gather essential customer information, including age, income, and occupation, to identify potential clients Additionally, this study aims to gain insights into customers' needs, spending habits, and challenges faced when using credit cards, ultimately enabling banks to enhance their services and better meet customer expectations.
To ensure safety during the Covid-19 pandemic, I developed a survey questionnaire using Google Forms, targeting customers who registered for a credit card with VIB The survey was distributed via various platforms, including Facebook, Zalo, Instagram, and email, reaching a total of 130 customers, of which 102 responded.
Looking at the first chart, I will specifically analyze the most popular customer segments using credit card services
Figure 2 : Proportion of gender, age, occupation of customers
The chart indicates that interest in VIB bank credit cards is nearly equal among genders, with a slight difference of 5.8% The majority of applicants fall within the 20-30 age group, comprising 63.7% of the total Most cardholders are office staff (55.9%) and business professionals (24.5%), reflecting a demographic characterized by stable incomes, financial independence, and favorable debt repayment conditions.
In today's fast-paced world, individuals frequently engage in transactions and prioritize convenience and speed for daily expenses, including bill payments and online purchases, while also being drawn to incentive programs.
This is also a potential customer segment of credit card service that VIB needs to focus on because it is easy to exploit and brings profits to the bank
The next chart will show about education level , income per month of customers
Figure 3 : Proportion of education level , income per month of customers
A significant portion of customers holds a graduate degree, comprising 66.7% of the total, while 42.2% earn an average monthly income between 7 to 10 million This income level meets the minimum requirements for credit card eligibility at VIB.
In the following chart, we will see about interactive channels to help customers know about VIB's credit card service:
Figure 4 : Interactive channels help VIB to reach customers
The bank staff Friends and family members who have used
How do you know about VIB's credit card service ?
A recent survey reveals that the primary source of awareness for VIB credit card services is bank staff, accounting for 40.2% of customers, followed by recommendations from friends and relatives at 30.4%, and online sources at 24.5% Conversely, advertising and television have the lowest impact at just 3.9% For VIB and commercial banks, leveraging knowledgeable bank staff for product promotion proves effective, while referrals from family and friends serve as a cost-efficient channel for customer acquisition Although these three communication methods show similar effectiveness, VIB should prioritize marketing strategies through mass media, particularly the Internet, to tap into the growing number of social media users Additionally, enhancing the visibility of credit card products in newspapers and on television could help VIB reach a broader audience.
The next figure will show the customer's card opening method
Figure 5 : Method opening card of customer
Most customers prefer to open VIB credit cards through the unsecured method (89.1%), as it is significantly simpler than providing collateral To qualify, customers only need to present their salary statements from the last three months, eliminating the requirement to submit land ownership certificates to the bank.
Next will be a figure giving the purposes of customer when use credit cards
What is your card opening method?
Figure 6 : The purposes of customer when use credit cards
Cashless payments have become increasingly popular, with a significant percentage of people using credit cards primarily for bill payments (62.7%) and online shopping (56.9%) Only a small portion (11.7%) utilize them for personal savings This trend is driven by the attractive incentives offered by credit card providers, such as cashback points and rewards from partners in various sectors, including food, consumer goods, and dining As a result, consumers are motivated to maximize these benefits by spending more to fulfill their personal needs.
Figure 7 : Criterias when choosing a customer's VIB credit card service
When selecting a VIB credit card, customers prioritize incentive programs (64.7%) and interest-free periods (58.8%) as the most significant factors influencing their choices VIB's offerings stand out in comparison to other banks' credit card products.
Travelling Paying bill Personal reserves
What is your pupose of using credit card?
What criteria do you choose to use VIB's credit card?
Interest free period Suitable limit Attractive incentive programs The reputation of bank Fee
VIB offers customers a unique experience through cashback rewards programs available year-round, providing unlimited offers across various sectors that enable savings of 5-20% on each transaction, along with an interest-free period of up to 55 days These features serve as significant competitive advantages for VIB However, the criteria related to procedure (8.8%) and fees (8.9%) have the lowest selection rates, indicating areas where VIB needs to implement improvements.
Figure 8 : Customer's credit card usage ( per month)
Most people use credit cards 3-7 times a month, making up 53.5% of users, while 25.7% use them more than 10 times, and 20.8% use them less than twice With various cashback programs, point accumulation, and direct discounts available in shopping, dining, and travel, customers are increasingly inclined to maximize their benefits through frequent credit card usage.
The next figure will show us the level of customer satisfaction about credit cards service of VIB:
How many times per month do you use your credit card?
Less than 2 times 3-7 times More than 10 times
Figure 9 : Customer satisfaction with VIB ’s credit cards services
VIB's credit card service is highly regarded by customers, particularly for its promotions, cashback offers, and secure system With 53 respondents expressing high satisfaction with VIB's promotional and cashback programs, it's clear that the bank's marketing efforts are effective Additionally, 44 customers are very satisfied with the security measures in place, thanks to VIB's pioneering use of technologies like Big Data, AI, and the Green PIN system This allows customers to transact confidently through the mybib application without fear of information theft However, VIB does face challenges in terms of fees and procedures, as indicated by 10 and 41 unsatisfied responses, respectively.
Next will be a figure listing some basic problems that customers have encountered in the process of usingVIB’s credit card service :
Very satisfiedSatisfiedNormalDissatisfied
Figure 10 : Some problems encountered when using credit card
A survey of 102 VIB credit card customers revealed that a common issue is the inability to access the MyVIB app, a problem frequently encountered in e-banking across various platforms This often results in the app continuously rotating and failing to process transactions, typically due to system maintenance or unstable internet connections Although this issue occurs regularly, it is usually short-lived To resolve it, customers are advised to exit the application and log back in after 1-2 minutes.
Finally, the chart below will show the customer's evaluation of credit card limit suitability
Figure 11 : Percentage of customers who evaluate the suitability of the credit card limit
Late payment or forget to pay
Can't access the app MyVIB too much outstanding balance
Penalized for spending over your credit limit
Is the credit limit suitable for your monthly spending?
Very suitable Lower than expected Higher than customer's demand
A significant 64.7% of customers find that the VIB credit card limit aligns well with their spending needs VIB offers credit limits up to 600 million VND for Platinum class cards and up to 2 billion VND for World class cards Customers enrolled in the salary program can receive a limit that is three times their salary, while those in the "card to card" program can expect an approval limit ranging from 70% to 130% of the card's limit After demonstrating responsible usage, customers may request a credit limit increase, or the bank may automatically raise the limit With these transparent policies, customers can confidently enjoy their spending and shopping experiences.
The competitive landscape of the credit card market is intensifying as banks vie for a share of its lucrative potential Leading institutions like Vietcombank, BIDV, and VietinBank are facing significant competition from VIB, VP Bank, and Techcombank, all of which are strategically located in the Cau Giay district, a hub for individual businesses and households The distinct features and advantages of these three banks are outlined in the accompanying table.
Table 7 : Comparison credit cards service of VIB, VP BANK and Techcombank
- Primary Cardholder from full 20 years old to 65 years old and supplementary cardholders from 15 years old and up
- Minimum average income for the last 3 months is 7 million VND and maximum is 20 million VND (Travel Elite Card)
- Between the ages of 22 and 60 (age at the time of application)
- Income from 5,000,000 - 7,000,000 vnd per month
-Discounts from 10% - 30% in many fields such as travel, food, shopping
Accumulate points,cashback for shopping expenses, installment payments with some big partners:
Cashback in the field of shopping and travel, accumulating and exchanging points at some big
- Installment program with more than 50 partners helps customers comfortably shop a variety of products and services
- Paying electricity and water bills, paying bills are all cashback, accumulating points,
- Customers opening a credit card will be prize draw and have the opportunity to receive tickets to travel to Asia
Cellphone, Samsung, partners such as:
-Late payment fee: 4%/ amount due (minimum:
-Card closing fee: 499,000 VND- 699,000 VND
Late payment fee: 6% (tối thiểu 150.000 VNĐ)
Limit Up to 600 million VND
(platium class), up to 2 billion VND (world class )
10 -500 million VND 25 million -up to 1 billion VND
Security -Smart Card technology integrates Virtual Card electronic card and Green PIN electronic code, 3D- secure
-3D-secure -OTP code -PIN code
-Smart OTP, eKYC electronic identification technology
-AI technology, Big Data, e- KYC, e-Signature
Procedure Must meet the customer in person to sign the confirmation
Do it online, fast Do it online, fast
Through the above analysis, we can see the clear difference between the 3 banks as follows:
KPI and KPR
At The Credit Department, the Credit Card Team, consisting of four members, is tasked with achieving a monthly KPI of 30 credit cards per person During my internship, I set a personal goal to persuade five customers to open credit cards while also fostering strong relationships with them throughout the consultation process Additionally, I aim to maintain a file of potential customers and enhance my understanding of product information, negotiation skills, and customer persuasion techniques by the end of my internship.
KPR results of each staff in the credit card team: All employees completed their tasks well
After completing a three-month internship at VIB Cau Giay, I successfully found five customers and persuaded three of them to open a credit card, while two others are still considering the service Although I did not meet my target, I gained valuable experience and essential skills that contributed to my personal and professional growth.
2.4.3 Host firm assessment and recommendation
VIB stands out as a leading bank in the credit card sector, emphasizing a rigorous due diligence process to mitigate customer risks, supported by a professional culture and a team of highly skilled staff The bank offers unique incentive programs and cashback opportunities through various partnerships to attract and retain customers However, VIB faces challenges, including a shortage of staff, which leads to a heavy workload for employees and potential errors in data management Additionally, the card application process is cumbersome, requiring extensive documentation and prolonged appraisal times To enhance business operations and improve credit card service quality at the Cau Giay branch, I recommend implementing streamlined procedures and increasing staffing levels.
VIB should enhance its network of credit card acceptance points in various neighboring cities and provinces, allowing customers to utilize services conveniently This strategic expansion is crucial for capturing market share and boosting the bank's competitiveness and operational scale With a growing number of Vietnamese, particularly in urban areas, regularly using credit card services, this initiative can significantly meet customer demand and strengthen VIB's position in the market.
Many individuals residing and working in rural areas possess stable incomes and can repay debts, yet they still lack access to essential personal financial services for daily expenses, bill payments, and online purchases on domestic e-commerce platforms This represents a significant customer segment for VIB to target, ensuring that people across all provinces and cities have the opportunity to utilize and benefit from these valuable financial services.
Despite the growing accessibility of credit cards, many individuals remain unaware of their features and benefits To address this, VIB should enhance its marketing strategy by utilizing professional advertising through posters, television, and leaflets to effectively promote credit cards Current usage is primarily among young office workers and business professionals aged 20 to 30, leaving a significant portion of the population uninformed, with some perceiving credit cards as a luxury reserved for the wealthy Therefore, it is crucial to raise awareness through mass media campaigns and press conferences to showcase the advantages of credit cards Additionally, VIB could distribute informative materials, such as a small notebook detailing interest rates, incentives, and fees, to help the public gain a clearer understanding of credit cards and foster a more informed perspective.
To enhance customer service quality, VIB should invest in additional transmission lines, ensure the MyVIB application operates smoothly, and proactively notify customers via email or text about any issues or maintenance, including specific timelines for when services will be restored.
VIB should focus on enhancing the long-term utility of its credit card services by prioritizing customer care beyond initial incentives While many banks offer attractive gifts for new credit card sign-ups, they often neglect ongoing customer support To stand out, VIB must adopt a customer-centric approach, understanding their needs and delivering unique value Implementing special policies for high-spending customers is crucial In addition to general incentive programs, VIB should develop a comprehensive database to track customer information, such as family status and hobbies, allowing for personalized rewards on special occasions like birthdays and anniversaries.
To enhance its services and reputation, VIB should focus on expanding recruitment efforts to attract passionate and skilled employees while filling essential positions Regular training on new banking issues is crucial for staff to effectively understand and promote services Since the bank's image is significantly influenced by tellers, it is essential for employees to possess strong cross-selling, communication, and problem-solving skills By developing a competent workforce, VIB can increase customer interest in credit card offerings.
INTERNSHIP ASSESSMENT
The difficulties encountered
This is the second time I have experienced the banking environment since the previous group internship, however, I still have some difficulties at the new unit:
Adapting to a new environment at the bank was challenging for me due to my shy and introverted nature However, the friendliness and openness of my colleagues helped me gradually adjust and become more proactive in my interactions.
Next, I lack of experience in consulting and finding customers As a young person, I don't have many relationships in society, so finding potential customers is extremely difficult
Building my customer base required significant time and effort as I learned from my colleagues the essential skills of customer engagement, market research, and relationship building Through these experiences, I was able to independently attract my first clients.
Managing my time effectively has been a challenge, especially during my internship while working on a personal report Unlike my previous group project, the heavy workload at the bank, combined with being a newbie, required me to learn from scratch and often left me reading work-related documents at home Initially, this led to significant pressure and stress; however, as I acclimated to the job and learned to utilize my free time for report writing, I found the process became much more manageable.
COVID-19 significantly impacted my research by restricting face-to-face interactions with customers for risk verification Due to social distancing measures, fewer customers visited the bank, making it challenging to conduct direct surveys with the provided survey sheets.
Internship gained
Interning at VIB Cau Giay Bank for three months has been an invaluable experience, leaving a lasting impression on my student life Despite facing some challenges, I learned important lessons and gained experiences that significantly contributed to my personal growth.
When I intership at the bank, I learned knowledge about the banking industry, operations, especially better understanding of credit card services, card opening process, and how to apply theory in practice
I have become bolder and more proactive in my approach, adopting an agile working style that reflects my maturity and thoughtful communication These qualities mark my initial steps toward becoming familiar with my major and its professional demands after graduation.
Effective communication with colleagues, leaders, and customers has significantly enhanced my soft skills, particularly in customer interactions, active listening, and situational analysis These practical experiences have allowed me to apply theoretical knowledge gained in university, making a meaningful impact on my professional development.
The most valuable lesson I gained from my internship was the importance of building lasting relationships Connecting with colleagues not only enriches my professional network but also creates bonds that can lead to future collaborations and partnerships These meaningful relationships are invaluable and cannot be replaced by material possessions, as they will accompany me throughout my career journey.
Career plan
My immediate goal is to successfully defend my personal internship report, reflecting the hard work I've invested over the past few months Following this, I plan to enroll in training courses to enhance my banking knowledge and communication skills, as I recognized areas for improvement during my internship This waiting period for my diploma presents the perfect opportunity for personal and professional growth.
My medium-term goal is to secure a position as a credit staff member at the bank where I completed my internship, following the timely receipt of my diploma I aim to leverage my accumulated knowledge and skills to excel in my responsibilities, demonstrate a strong work ethic, and pursue opportunities for career advancement.
My long-term goal is to master job-related skills and develop into a competent professional who contributes significantly to the company I aspire to become a qualified manager, leading the bank's activities and earning the admiration and respect of my colleagues Achieving this ambitious goal requires hard work and dedication, and I value the opportunities and support from those around me, which motivate me to improve a little each day.
Credit cards have emerged as a popular modern payment method, significantly boosting profits for commercial banks, particularly VIB, which stands out as the leading bank in Vietnam's credit card sector To sustain its competitive edge and retain valuable customers, VIB is committed to enhancing its credit card services by leveraging its strengths However, it is essential for VIB to improve its transmission system to minimize risks for customers, enhance customer support, and develop after-sales programs that deliver unique long-term benefits.
The project focused on enhancing credit card services for individual customers at the Vietnam International Bank (VIB), Cau Giay Branch, successfully accomplished its primary objectives by leveraging acquired knowledge and insights.
Basic features of credit card services for individual customers at VIB bank, Cau Giay branch
After that, a survey of customers' opinions on needs and satisfaction levels when usingVIB credit card , from which conclusions and evaluations are made
Next, Compare VIB with competitors, Analyze strengths, weaknesses, opportunities and threats through the SWOT model to draw comments on the advantages and disadvantages of the service
Then, Propose grounded and practical solutions to improve the quality of credit card services
My internship experience and the knowledge I gained were instrumental in completing my thesis I am optimistic that my recommendations will assist VIB in addressing its challenges and fostering future growth.
During the research process, I still cannot avoid the shortcomings and limitations in my report despite my best efforts to complete it, I look forward to receiving your comments and suggestions
SURVEY OF CUSTOMERS ABOUT CREDIT CARD SERVICES FOR INDIVIDUAL CUSTOMERS OF VIETNAM INTERNATIONAL BANK(VIB), CAU GIAY
My name is Nguyen Thi Hue, and I am currently interning at VIB International Bank's Cau Giay branch while studying at Thuong Mai University I kindly ask for your assistance in completing a survey aimed at enhancing the quality of credit card services at VIB Cau Giay, ensuring an exceptional customer experience Please be assured that all your information will be kept confidential.
3 What is your current occupation?
4 What is your education level?
5 What is your monthly income?
6 How do you know about VIB’s credit card service?
Friends and family members who have used
7 What is your card opening method ?
8 What is your pupose of using credit card?
9 What criteria do you choose to use VIB’s credit card?
10 How many times per month do you use your credit card?
11 Your review about VIB's credit card service – Cau Giay branch
Issue fee and annual fee
12 Have you encountered any problems in the process of using VIB's credit cards service?
Never Seldom Sometimes Regularly Card declined
Late payment or forget to pay
Can’t access the app MyVIB
Penalized for spending over your credit limit
13 Is the credit limit suitable for your monthly spending?
Thank you for your comments!