What is Sales and Marketing Strategy of Military Commercial Joint Stock Bank Company?

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How does Military Commercial Joint Stock Bank reach its customers?

Military Commercial Joint Stock Bank (MB) has transformed into a digital conglomerate, redefining its market presence in Vietnam. A 2019 rebrand emphasized a modern, digital, and customer-centric approach.

MB's strategic pivot is evident in its customer acquisition, aiming for 30 million by November 2024, up from 26.5 million by December 2023. This growth is fueled by continuous technological investments.

MB's sales and marketing strategy focuses on a digital-first approach, leveraging technology to deliver a comprehensive suite of financial products. This includes deposits, loans, and payment solutions, serving a broad customer base from individuals to institutional investors. The bank's commitment to digital transformation, initiated around 2017, moved it away from traditional channels to embrace a fully redefined banking operation. This strategic evolution has positioned MB as a leader, with total assets nearing 945,000 billion VND by the end of 2023. For a deeper understanding of the external factors influencing MB's strategy, consider a Military Commercial Joint Stock Bank PESTEL Analysis.

Military Commercial Joint Stock Bank employs a multi-faceted sales approach, heavily leaning into digital channels to serve its extensive customer base. The bank's strategy prioritizes a robust digital ecosystem, significantly enhancing customer acquisition and transaction volume.

Digital Dominance: MBBank App & BIZ MBBank

The core of the bank's current sales strategy is its digital ecosystem, featuring the MBBank App for individuals and BIZ MBBank for corporate clients. These platforms are instrumental in facilitating a vast number of transactions.

Offline Presence: Branch Network

While digital channels are paramount, the bank maintains a physical presence through its network of branches across Vietnam. These branches cater to traditional banking needs and complement the digital offerings.

Digital Transaction Volume

A significant indicator of the digital shift is that 99.5% of financial transactions were conducted via digital channels in the first nine months of 2024, highlighting the effectiveness of the MB Bank sales strategy.

Customer Acquisition via Digital Channels

Digital channels are a key driver for new customer acquisition, contributing an additional 2.2 million customers by mid-2025. The bank aims to onboard 4-4.5 million new digital customers for the year.

Strategic Digital Evolution

The bank's commitment to digital transformation is evident in its investments since 2017, aiming to become a 'paperless bank' and an 'intelligent financial ecosystem.' This strategic direction underpins the Military Commercial Joint Stock Bank strategy.

• By June 2025, the customer base reached nearly 33 million.
• The MBBank App has consistently been a top-ranked application in Vietnam.
• The bank is actively deploying 91 mini-apps within its ecosystem.
• These mini-apps generated 8 million billion VND in transaction value in H1 2025.
• The bank is leveraging Banking-as-a-Service (BAAS) and API models, with 783 partners connected in 2024.
• MB Bank acquired 228 new BAAS customers in the first half of 2025.
• Total transaction scale exceeded 10 million billion VND with 3.6 billion non-cash transactions in 2023.
• Money transfer transactions via NAPAS ranked first in the banking system for three consecutive years (2021-2023).

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The Military Commercial Joint Stock Bank (MB) employs a robust marketing strategy heavily focused on digital channels, capitalizing on its technological infrastructure to drive customer acquisition and engagement. This approach is central to its overall Military Commercial Joint Stock Bank strategy, aiming to build brand awareness and generate leads effectively.

Digital-First Engagement

MB's marketing tactics are predominantly digital, leveraging advanced technology to build awareness and drive sales. Content marketing and SEO are integral to its online presence, enhancing customer experiences.

Mobile App as a Marketing Hub

The MBBank App and BIZ MBBank serve as primary marketing tools, offering over 200 services through innovative mini-app models. These platforms are key to the MB Bank sales strategy.

Data-Driven Personalization

A core element of MB's strategy is data-driven marketing, focusing on customer segmentation and personalized offerings. This underpins the MB Bank customer acquisition efforts.

Technological Innovation

Significant IT investments support optimal service experiences, with staff trained in data-based decision-making. AI, Big Data, and DocAI integration in Biz MBBank enhance smart financial ecosystems.

Digital Revenue Growth

MB aims for at least 30% of its revenue from digital channels in 2024, targeting 50% by 2026. This highlights the importance of its digital marketing strategy for military personnel.

Pioneering Features

The bank was the first in Vietnam to use facial recognition for transfer verification on its app and introduced 'Proxy Biometrics' for remote assistance, showcasing unique sales tactics used by Military Commercial Joint Stock Bank.

The bank's commitment to technological advancement is further exemplified by its partnership with Temenos for its core banking system, upgraded in 2024 to manage up to 15 million transactions daily. This robust infrastructure is crucial for supporting its ambitious marketing and sales objectives, including expanding its Open Finance platform and deeper AI integration. While traditional media is less emphasized, the extensive digital marketing efforts, including a strong social media presence, are designed to drive revenue and enhance customer relationships, contributing to the Military Commercial Joint Stock Bank business strategy. Understanding MB Bank's go-to-market strategy reveals a clear focus on leveraging technology for customer acquisition and retention.

Key Marketing Pillars

MB's marketing strategy is built on several key pillars designed to foster growth and customer loyalty. These initiatives are crucial for understanding the Military Commercial Joint Stock Bank competitive analysis marketing.

• Digital Channel Focus: Aiming for 30% revenue from digital channels in 2024 and 50% by 2026.
• Technological Integration: Utilizing AI, Big Data, and DocAI for enhanced customer experience and automated services.
• Customer Segmentation: Employing data-driven approaches for personalized marketing efforts.
• Mobile Platform Dominance: Leveraging MBBank App and BIZ MBBank as primary marketing and service delivery channels.
• Innovation in Security: Implementing features like facial recognition and 'Proxy Biometrics' to build trust and convenience.
• Partnership Ecosystem: Collaborating with technology providers like Temenos to ensure a scalable and efficient core banking system.

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Military Commercial Joint Stock Bank positions itself as a modern, innovative, and customer-centric financial institution. Its core message, 'Intelligent Banking. Enriching Your Future,' highlights technological advancement, trustworthiness, and seamless service delivery, differentiating its Military Commercial Joint Stock Bank strategy.

Brand Identity: Modern and Innovative

The bank's brand identity is built on being a forward-thinking financial institution. This is reinforced by its commitment to digital transformation and customer convenience, key elements of the MB Bank marketing strategy.

Core Message: Intelligent Banking, Enriching Futures

The central theme emphasizes technological progress, reliability, and smooth service. This message underpins the Military Commercial Joint Stock Bank business strategy, aiming to build trust and value for its customers.

Visual Identity: Digital and Forward-Looking

A refreshed visual identity in 2019 introduced a forward-moving star and streamlined 'MB' letters. This design conveys a digitalized, approachable, and progressive image for the bank.

Unique Selling Proposition: Innovation and Convenience

The bank differentiates itself through innovation and convenience, prominently showcased in its digital platforms. This focus is central to the MB Bank sales strategy, driving customer acquisition.

The bank's appeal to its target audience is strongly rooted in its innovative approach and the convenience it offers. This is clearly demonstrated through its digital offerings, such as the MBBank App. By February 2025, the MBBank App had achieved 32 million users and was the most downloaded app on the App Store in Vietnam for three consecutive years starting from 2020. This user base suggests that approximately half of the adult population in Vietnam uses an MB account. Furthermore, BIZ MBBank secured the number 1 satisfaction rating for corporate finance applications in February 2025, underscoring its effectiveness in the business sector. These achievements highlight the success of the Marketing Strategy of Military Commercial Joint Stock Bank.

Significant Brand Value Growth

The bank's brand value has experienced substantial growth, increasing by over 40% in the last four years. This upward trend reflects the effectiveness of its integrated sales and marketing initiatives.

Top Brand Recognition

It has been recognized as one of the Top 2 strongest brands in Vietnam for both 2022 and 2023. This consistent recognition validates the Military Commercial Joint Stock Bank strategy in building brand equity.

Global Brand Ranking Advancement

In Brand Finance's Banking 500 2025 report, the bank jumped 59 places to rank 168th globally. Its Brand Strength Index (BSI) of 87.7/100 places it within the AAA group, showcasing strong brand performance.

Consistent Brand Perception Management

The bank maintains a consistent brand perception across all channels by focusing on enhancing customer experiences. This approach ensures alignment with evolving consumer sentiments, a key aspect of the MB Bank customer retention strategies.

Integration of ESG Principles

The bank integrates Environmental, Social, and Governance (ESG) principles into its long-term strategic objectives. This commitment contributes to its image as a responsible and sustainable financial service provider.

Customer-Centric Approach

The bank's strategy emphasizes customer-centricity, evident in its digital platforms and service delivery. This focus is crucial for the MB Bank sales strategy, driving customer satisfaction and loyalty.

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Military Commercial Joint Stock Bank's sales and marketing strategy has been heavily focused on digital transformation and customer acquisition, aiming to reach significant customer milestones. Their campaigns are designed to enhance brand visibility and appeal, particularly to younger demographics.

Digital Acceleration for Customer Growth

A core objective was to aggressively grow the customer base, successfully reaching 30 million customers by November 2024, aligning with the bank's 30th anniversary. This was driven by a motto of 'Digital acceleration - Attracting customers'.

MB Stellar Fashion Payment Bracelet Launch

In November 2023, the bank launched Vietnam's first payment bracelet, integrating debit and credit chips. This product targeted individuals aged 25 to 40 with its water-resistant design and 18 style options, aiming for seamless payment experiences.

MB JCB Be The Sky Card Collaboration

Early 2024 saw the introduction of the MB JCB Be The Sky card, a unique collaboration with celebrity Son Tung M-TP and JCB. This marked Vietnam's first bank card directly linked to a celebrity's activities.

mSeller Sales Management Software Recognition

The mSeller sales management software received acclaim at the Sao Khue Award 2024 for its superior payment experiences and user convenience, streamlining business operations.

These digital product launches, coupled with the bank's overarching strategy to become a 'Digital Enterprise, Leading Financial Group,' have demonstrated significant success. By the close of 2024, the MBBank App had onboarded 4.1 million new users, bringing the total customer count to over 30.2 million. A remarkable 98.6% of all transactions were conducted digitally, highlighting the effectiveness of their digital-first approach and strategic partnerships, including influencer collaborations, in driving growth and solidifying market position. This aligns with the bank's broader Mission, Vision & Core Values of Military Commercial Joint Stock Bank.

Customer Acquisition Goal Achieved

The bank successfully achieved its target of 30 million customers by November 2024, underscoring its effective customer acquisition strategies.

Digital Transaction Dominance

By the end of 2024, 98.6% of transactions were conducted digitally, showcasing the success of their digital marketing strategy.

Innovative Product Marketing

Campaigns like the MB Stellar payment bracelet and MB JCB Be The Sky card demonstrate innovative product launch marketing and partnership initiatives.

Target Audience Appeal

Products and campaigns are designed to resonate with specific demographics, such as the 25-40 age group, indicating effective customer segmentation marketing.

Business Solution Promotion

The recognition of mSeller software highlights a focus on B2B marketing, offering solutions that streamline operations for businesses.

Brand Positioning

The bank's positioning as a 'Digital Enterprise, Leading Financial Group' is reinforced through these campaigns, enhancing its brand positioning in the financial sector.

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