Cross-Border Banking Services and Determinants of Bank Selection from Corporate Customer’s Perspective: Evidence from Vietnam

Nguyen Thi Nhung, Tran Thi Thanh Tu, Tran Minh Anh


This paper focuses on assessment of cross-border services in the Vietnam banking system in the context of international integration from customer’s perspective. The authors used Exploratory Factor Analysis (EFA) in SPSS from survey of 153 corporate clients of Vietnamese banks in 2018 to evaluate the current situation of offering cross-border services as well as competitiveness of banking system in Vietnam. Research results show that from customers’ perspective three key factors relating to marketing policy, infrastructure and financial capacity of banks are the most important factors in selection of using cross-border banking services in Vietnam. Survey results show that competitiveness of Vietnamese banks is reaching medium level but much lower than the expectation of customers. Therefore, the authors propose to Vietnam banking system some recommendations including: (i) Improving the services’ quality, especially in terms of technology and depth of cross-border banking services; (ii) Focusing more on customer care activities by developing more useful applications on smartphones, tablets and computers, create the linkage among banks and end-users, develop digital marketing instead of traditional marketing methods; (iii) Maintaining domestic market as well as finding new markets abroad, especially in the ASEAN countries, in order to gradually increase the diversification as well as the quality of cross-border financial and banking services.

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