VPBank has launched its latest app called ‘Dream,’ providing customers with advice and solutions to conveniently manage their personal finances to help them realise their dreams in a smart and efficient manner.
VPBank’s Dream accordingly assists customers from the planning stage of each of their set goals and follows the customers’ financial journey along to take control of their earnings and savings and provide timely financial solutions to make their customers’ dreams come true.
At virtually no transaction fee, attractive savings rates starting from 5.5 per cent a year for savings of less than six months, and fast-approved credit and disbursement, the app is aimed at a wider public than just the Millennials who are deemed more tech-savvy.
According to VPBank head of digital banking, Dmitry Bocharov, both the young and the elder groups of the population have their dreams and it would not make sense to only target segments that are high-tech or more digital than the others.
“We have separate teams of people to support our customers in consulting, in helping with the digital forms or teaching some of the customers to use some of the digital finance services,” said Bocharov on the side-lines of the app launching event held on Wednesday night.
The unique feature of the app, as Bocharov noted, may not be copied by other banks that also have an appetite to develop their own digital products. He shared that some pieces of Dream’s functionality could be developed by fintech companies, but none, even at the global scale, have actually combined all of the elements of the offered capacity seen in Dream.
|Dmitry Bocharov talking aobut the Dream app developed for VPBank’s customers|
What sets Dream apart from other banking apps, according Sandeep Deobhakta, head of Retail Banking at VPBank, comes down to it being a solution rather than a product.
“Lots of banks offer a home loan or a car loan, including us, but this [Dream] starts with the customer’s dream because all of us want a home, a car, a holiday, to start a business or ensure our kids have the best education. And we are approaching this from the perspective of what is important to the customer and how we can design banking products that meet the criteria and support our customers,” he explained. “So it is fundamentally different in approach as it is purely customer-driven, not product-driven.”
“If you are buying a home or a car, we will help you save on the down payment, we help you with financing, we help you with better interest rates or waiving fees, and we help you keep track of your dream to make sure you are saving enough,” said Deobhakta.
|VPBank’s app is a unique offering that is more of a solution than just a service|
In partnership with hundreds of businesses, Dream users can get exclusive offers and discount on health products, car purchases, furniture and décor, and many other utilities.
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By Trang Nguyen
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