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Leading with Lifestyle: How Timo Digital Bank is Changing the Financial Game in Vietnam?

HO CHI MINH CITY, Vietnam, Jan. 23, 2024 /PRNewswire/ — As a pioneer in digital banking services, Timo has long been on a mission of continuously setting the benchmark. Starting from free bank transfers and ATM withdrawals 8 years ago, Timo since has focused on connecting communities and fostering sustainable growth through social banking and enabling customers to live a richer life. Timo’s goal hereby is to help its customers navigate through their lives as a companion instead of merely being seen as a powerful but cold and anonymous entity. Money is inherently emotional. Humans dream of not having to worry about money while having nightmares of running out of money when most needed. Strengthening the emotional connection has hence long been a cornerstone of Timo’s strategy and key differentiator in an otherwise crowded market.

Tomi-ism philosophy – helping customers live “richer” lives

With customer needs at the heart of its development, Timo Digital Bank aims to partner across multiple aspects of peoples’ lives. Rooted in the belief that true wealth is measured not merely by bank balance but by a balanced life, Timo Digital Bank strives to empower its customers to live life to the fullest, whether through relevant financial services or through a comprehensive product suite of non-financial products. Timo hereby follows a philosophy called Tomi-ism to describe core ideas of achieving richer living and avoiding life regrets. Moving beyond the purely materialistic, Tomi-ism promotes the balancing and ongoing nurturing of four key dimensions: Wealth, Health, Relationships, and Lifestyle.

Tomi-ism is a philosophy describing the art of living a richer life by achieving balance between four aspects: material wealth, mental & physical health, relationships, and lifestyle. Photo: Source: Timo Digital Bank
Tomi-ism is a philosophy describing the art of living a richer life by achieving balance between four aspects: material wealth, mental & physical health, relationships, and lifestyle. Photo: Source: Timo Digital Bank – An Innovative Platform for Brand Monetization and Lifestyle Enrichment

With a long-term focus on sustainable development, Timo aims to expand its partner ecosystem to strengthen emotional connections with customers at every “touchpoint”, offering colorful, multi-faceted experiences to enhance customers’ lives. Timo Store – the e-commerce site of Timo Digital Bank, is considered an important step in this strategy. As a bridge towards financial and non-financial partner ecosystems including the Vietnam National Team, Bloomberg Businessweek Vietnam, Saigon Heat, Coolmate, East West Brewing, VOZ, etc., Timo Store helps Timo partner with diverse partners, spanning fields such as Entertainment, Sports, F&B, and Lifestyle.

Instead of waiting for customers to go to the bank, Timo believes banks need to go to where the customer is. This has helped Timo become a pioneering brand in connecting communities, bringing emotions and connections to attract customers, while increasing customer Brand Love. Through Timo Store, Timo has especially succeeded in connecting with the younger generation – the customer profile that will shape Vietnam’s financial landscape in the next 5-10 years.

This journey started through a successful cooperation with two inspirational ambassadors – the Truong Twins, proudly accompanying the Vietnamese National Basketball Team on their journey to a historic gold medal at the 32nd SEA Games. Since then, a number of further milestones have been achieved and Timo Store now proudly stands as a winner of Top 50 cool products and services in 2023 and Top 10 of the Technology Products – Services industry group alongside industry giants like Momo, Coc Coc, Gojek, VNPAY, etc., as recognized by the prestigious Vietnam Economic Times.

Timo Signature – Elevating Customer Experiences with Exclusive Membership Benefits

While Timo Store helps Timo reach more customers, Timo Signature is designed as an easy way for customers to actively grow their lifestyle and live a richer life. As an accessible membership program, Timo Signature provides customers with a wide range of unique offerings and experiences, aligning with customers’ core values while improving their quality of life.

Instead of limiting membership to only the highest-balance customers and biggest brands, Timo Signature charts a different path, creating a platform for Timo’s most engaged customers to actively pursue such avenues for richer living. These obviously include multiple Timo-related offerings like priority support and early-bird feature access on Timo. However, Timo Signature also covers a range of other lifestyle events and offerings across multiple domains from craft beer tastings and fashion shows to discounts and other partnerships with prominent and up-and-coming brands in areas including sports, entertainment, F&B and many more.