MB Bank

Challenge

Since 2018, Prophet has partnered with MB Bank on its transformation into a digital-first, customer-centric global bank. Following a brand refresh, MB Bank has embarked on a series of growth initiatives across its brand, marketing, digital and retail experiences, helping it reach over 30 million customers and more than 300,000 corporate clients. Named Vietnam’s most valuable brand by Brand Finance, MB Bank’s digital banking experience now leads the market.   

Building on the success of its digital banking app since its launch in early 2020, MB Bank strived for greater differentiation across its private and mass retail segments. To help achieve their ambition, Prophet partnered with MB Bank to collaboratively develop two personalized digital experiences for these target segments. 

Through PlayStudio sessions with MB Bank’s key stakeholders, we developed a compelling Customer Experience (CX) vision and principles, initial transformation ideas as well as a design direction that guided the development of a new experiential retail design, signature touchpoints and experience transformation. 

Our work culminated in the development of signature experiences and the creation of a new auto-banking concept—the MB SmartBank. With the signature CX moves and designs developed, the final step was to conduct an in-market pilot. We developed execution plans to guide the roll-out and necessary changes in the day-to-day operations. To empower change, we also developed KPIs to measure success, along with staff workflows and detailed job descriptions for the transformed roles in the retail branch and MB SmartBank. 

Solutions

To develop distinctively personalized experiences, our team first conducted extensive customer research to identify two key target segments:  

1. MB Private: High net worth individuals who are more focused on wealth management and lifestyle needs
2. MB Mass Retail: Mass customers who are largely digitally savvy Millennials and Gen Z with general banking needs  

We then mapped out the current customer journeys to uncover key pain points and opportunities across both physical and digital engagements. By analyzing the current customer experiences, we diagnosed loopholes and fragmented pieces within the existing user journeys that needed to be augmented.   

We explored industry trends and best practices from traditional banks and fintechs to pinpoint and define standout features tailored to each of MB Bank’s customer segments—such as wealth portfolio overviews, personalized spending insights, gold investing, and gamified loyalty programs. With these, we developed a clear UX-led information architecture (also known as the sitemap) and prioritized high-impact signature features. We then moved into an agile design process, rapidly iterating User Interface (UI) designs with continuous feedback from product owners to ensure a seamless, future-ready experience.