Digital Technology Application in Building Relationships with Individual Customers: Research at JPMorgan Chase, DBS Bank, and Suggestions for Vietnamese Commercial Banks
Abstract:
This article analyzes the experience of applying digital technology in building and maintaining relationships with individual customers at two international banks, JPMorgan Chase (USA) and DBS Bank (Singapore). JPMorgan Chase has used artificial intelligence (AI) and big data to personalize customer experiences, effectively combining digital channels and physical branches to create a comprehensive financial ecosystem. Similarly, DBS Bank strongly applies AI, big data, and advanced security technology to enhance customer experience and ensure transparency and safety, helping the bank achieve the highest level of satisfaction in Southeast Asia.
From these experiences, the study proposes several suggestions for Vietnamese commercial banks, including: upgrading digital technology infrastructure and integrated data platforms; strongly deploying AI and big data analytics throughout the customer journey; widely applying electronic identification (eKYC) to expand customer access; building an omni-channel banking model to ensure consistency and seamlessness in experience; and developing a highly digitally capable workforce to meet the needs of comprehensive digital transformation in the banking industry.
KeyWords:
Digital technology, customer relationship, AI, Big Data
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