CASE STUDY
MB Bank
Creating a Digital Banking Powerhouse
Background
MB Bank wanted to triple its customers. And as new competitors crowded into the Vietnamese banking market, the 25-year-old company knew it needed a clearer identity, a fresher look and the ability to engage increasingly digital customers. Its goal was to become one of the three largest banks in Vietnam, providing the best customer experience in the category.
Approach
Prophet wanted to help MB move from early-stage transformation, with investments in the pilot stage, to true digital integration.
We developed a multi-year strategy and growth plan, which included identifying and segmenting target customers, developing growth moves, running user experience sprints, and supporting a new innovation lab.
After identifying the three customer segments most likely to drive growth. We then dove deep into the needs of MB’s customers, developing a series of transformative growth moves to attract these new audiences. With a clarified value proposition, we:
- Reimagined its digital banking app
- Designed a simple, powerful and accessible referral program
- Launched a first-in-market family banking offer
Impact
With Prophet’s support, MB has transformed into a modern bank. It’s become intentionally disruptive. Digital thinking is now native in its people, processes and technology in every business unit, helping it gain advantages over both conventional and fintech competitors. Its digital-first and customer-centric offers have helped it add over 30 million new customers, propelling the organization into a new era of growth. The updated app became the #2 most downloaded in Vietnam.
#1
Most Valuable Brand in Vietnam within two years of digital transformation
1 in 2
Adults use an MB account
32m
App users as of 2025
#2
Most downloaded app in Vietnam (2024)
“We are delighted to have a trusted strategic partner in Prophet, and they have played a crucial role in our very important transformation journey. We are very proud of our modern look and feel. We evolve towards becoming a digital-first bank, and it has been very well received in the market.”
Mr. Thai
Chairman of the Board of Directors of MB Bank
BRAND TRANSFORMATION
Creating and Launching a New Brand to Tell MB’s Transformation Story
RETAIL BANKING
Redefining Retail Banking: MB Bank’s Journey to a Digital-First Future
CUSTOMER CENTRIC INNOVATION
Customer-Centric Innovation: MB Bank’s Journey in Creating Personalized Experiences
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