The Orient Commercial Joint Stock Bank (OCB) officially introduced Liobank - a new generation digital bank for young technology connoisseurs with outstanding features - on March 2.

The new digital bank has been designed with a friendly interface and streamlined procedures in order to help customers open multi-function accounts and immediately know the results of card credit limit considerations. Transactions can also be conducted online without complicated paperwork. Liobank will also waive many fees, such as for account openings, card issuances, money transfers, and other services.

Liobank also integrates many preeminent, outstanding, and unique features in the market, creating favorable conditions for customers when spending, such as issuing 2-in-1 cards - a combination of credit and debit cards, and credit limits up to VND300 million ($12,600). In particular, customers will be refunded up to 10 per cent, or up to VND500,000 ($21.7) each month.

An OCB representative said that Liobank was built specifically for young customers who love to experience the convenience of technology.

“Participating in the development of Liobank were experts from Europe with experience in building successful digital financial services in many countries around the world,” the OCB representative told the launch ceremony. “We expect Liobank to become a ‘super convenient new generation digital bank’, leading the technology trend, being highly personalized, and meeting all needs of young customers.”

The launch of Liobank is testament to OCB’s unremitting efforts in developing its retail banking segment, which it considers a core activity. By focusing on developing strategies to boost business operations as well as investing in digital transformation strategies, OCB received two international awards from Global Brands Magazine last year - Best Digital Banking Brand and Excellence in Retail Banking.