VIB Privilege Banking was launched amid rapid growth in Vietnam's personal wealth market, leading to more complex financial management demands. According to a report by McKinsey & Company, total personal financial assets in Vietnam could reach approximately 600 billion USD by 2027, with high-net-worth customers increasing quickly across Southeast Asia. This trend prompts individuals to shift from isolated savings to multi-objective asset management, encompassing cash flow, investments, and asset protection.

VIB Privilege Banking aims to meet the needs of affluent customers who require a financial system that adapts to each life stage. This segment includes individuals who meet VIB's financial criteria for priority status at different times. They will receive comprehensive privileges across finance, cards, insurance, and lifestyle experiences.

The new VIB Privilege Banking product is inspired by the aurora borealis. Photo: VIB

According to Tuong Nguyen, VIB's deputy chief executive officer, the VIB Privilege Banking solution system operates based on three core values: "dynamic," adapting to customers' lifestyles; "unique," personalized for each financial journey; and "exclusive," offering long-term experience-driven privileges.

The "dynamic" aspect structures the financial system into three layers: cash flow, accumulation, and investment. Idle cash flow can achieve optimized returns while maintaining liquidity. Specifically, in the accumulation layer, solutions like iDepo and Hi-Depo help customers preserve asset value and flexibly adjust medium to long-term financial plans.

Meanwhile, the investment layer provides access to diverse products through a partner ecosystem in insurance and finance, including Prudential and Kafi. This approach combines asset growth with preservation. When these three layers operate in sync, the personal financial system becomes a flexible structure, linking cash flow, assets, and opportunities.

For spending, card lines for priority customers, such as VIB Priority Signature and VIB Premier Signature, are developed to cater to specific needs like travel, dining, and shopping. Customers can receive up to 5% cashback and enjoy lounge access with priority lanes at domestic and international airports. Additionally, the bank offers a competitive foreign currency transaction fee of only 1%, which is highly beneficial for customers who travel internationally.

In asset management, the bank focuses on flexible capital structures. Customers can choose principal repayment options that align with their actual cash flow, while also utilizing grace periods to balance borrowing and investing. Financing limits are designed to be high, up to 500 billion VND, serving diverse needs from personal to business ventures.

Emphasizing "unique" and "exclusive" aspects, VIB Privilege Banking centers on personalized experiences. Within the MyVIB digital banking platform, the Ownrora space is custom-designed for priority customers, enabling comprehensive personalized financial management. The system can suggest asset allocation based on cash flow needs and investment preferences, ensuring asset management reflects each customer's goals and risk tolerance.

Tran Thanh spoke at the "Aurora - interactive light art space" experience event launching VIB Privilege Banking. Photo: VIB

The digital platform is central to the service experience. On the MyVIB application, a dedicated space for priority customers allows them to track assets, receive allocation suggestions, and manage finances according to personal goals. Features like customized account numbers or personalized gifts are also integrated to enhance distinctiveness.

This entire ecosystem operates on modern data and technology, combined with a specialized team of priority customer relationship managers. This helps VIB deeply understand each customer's needs and design appropriate solutions.

Additionally, through the "Catch the Aurora" program, customers can accumulate Aurora Tickets by maintaining deposit balances, using their cards, utilizing insurance, or referring new customers. Each Aurora Ticket offers a chance to win one of 9 travel voucher pairs for two people to chase the aurora, valued at 400 million VND per pair.

Chloe Nguyen, one of the first VIB Privilege Banking customers, received a limited-edition Aurora gift set. Photo: VIB

Alongside the product launch, VIB organized a series of experiential activities to introduce the service. The event space featured interactive light art installations and performances, conveying messages of flexibility and personalization.

The first VIB Privilege customers also received a limited-edition gift set, including a hand-dyed silk scarf by artist Dang To Anh. Each scarf features a unique, non-repeating pattern, paired with a Swarovski crystal scarf ring imported from Austria. Notably, the first Premier tier customers were also presented with a limited-edition gold-plated metal Signature card.

In the coming phase, VIB Privilege Banking will continue to enhance its service ecosystem based on data and technology, while expanding its specialized advisory team. The goal is to build a priority banking model that extends beyond financial products to become a comprehensive asset management platform for customers.

Dan Minh

Learn more about VIB Privilege Banking here.