MB honoured at Sao Khue Awards 2023

MB Market Place was honoured at Sao Khue Awards 2023

On April 28, the Vietnam Software and IT Services Association held a ceremony in Hanoi to commemorate the 20^th anniversary of the Sao Khue Awards.

MB's two digital products, the Mini App Market (MB Market Place) and the Automatic Credit Limit Approval Feature on BIZ MBBank for small and medium-sized enterprises, both received accolades in their respective categories of "Digital Transformation Platforms" and "Digital Banking."

From banking apps to super-app platforms

The Mini App Market was developed with the goal of transforming the MB banking app into a super app platform that integrates various non-banking services for the daily needs of its 20 million users. This innovative platform not only offers convenience to its users but is also considered a user-friendly model for businesses and technology partners.

By understanding customers’ behaviour through data analysis, MB's tech talents help users access the right services at the right time and address their evolving needs. With just a few simple steps, customers of the MB banking app can complete online shopping, transportation, flight booking, hotel reservations, shipping, entertainment voucher purchases, and dining experiences, all while using the most secure payment system in Vietnam.

In just eight months since its launch, the Mini App Market has successfully connected more than 50 different businesses, including major brands such as Viettel, Medlatec, and Sendo, to MB's 20 million customers through its digital platform.

This platform has become a one-stop-shop for all the daily needs of the bank’s users and a valuable tool for businesses looking to reach a wider audience. With these award-winning digital products, MB continues to lead the way in digital transformation and innovation, creating a more efficient and user-friendly banking experience for its customers.

“The Mini App marketplace integrated within the MBBank mobile application is a technological breakthrough as well as a business model innovation, transforming the bank app into a super app," said a representative from MB.

Enhancing experience for SMEs

The auto-approval feature for credit limits, built on the BIZ MBBank platform, is a digital banking application designed for corporate clients. Specifically targeted towards micro SMEs, this feature aims to optimise customers’ experience by proactively proposing credit limits and diminishing the time required for credit limit approval.

With this feature, the system will automatically calculate the credit limit value and provide approval results based on the customers’ input data and available information sources. Subsequently, businesses can proactively provide 100 per cent online application documents via BIZ MBBank in a seamless and convenient way instead of visiting a brick-and-mortar branch to submit paperwork.

The automated credit limit approval feature for credit limits on BIZ MB Bank is designed based on practical surveys aimed at optimising the customer experience journey when proposing credit limits on digital channels. Each touchpoint is measured based on the time taken to complete the operation and the customer's experience at each step. In 2022, more than 6,000 business customers were successfully approved for credit limits through BIZ MBBank.

MB Laos launches new banking app MB's Laos branch officially launched a fresh banking application for individual customers in the capital city of Vientiane on April 21.

MB sets sights on increasing charter capital and upcoming M&A deal All eyes have been on Military Commercial Joint-Stock Bank (MB) as it continued to make waves in the Vietnamese banking landscape, solidifying its position as a major player in the industry with its upbeat performance. Nonetheless, certain concerns have been raised regarding the bank’s real estate loan portfolios, a merger and acquisition (M&A) deal with a weak Vietnamese bank, and its restructuring process with MCredit.