Vietnam: An interview with Sandeep Deobhakta, Head of Retail Banking at VP Bank

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We recently caught up with Sandeep Deobhakta the Head of Retail Banking at VP Bank. In our conversation, Sandeep reveals both the potential and the key challenges of mobile wallets for the future of Vietnam.

Could you share something about yourself with our readers?sandeep deobhakta

I am the Head of Retail Banking at VP Bank. VP Bank has ambitious plans to be one of the top 3 retail banks in Vietnam through rapid growth and transformation. I joined VP Bank in May 2015 but prior to this role I lived and worked in many other countries in Asia, the Middle East, Africa and the US.

My previous roles include consumer banking, wealth management and transformation roles at various international financial institutions starting with Citibank, Standard Bank, Barclays and AIA Group. I was also the Head of Retail at Shinsei Bank in Japan which is one of the earliest, digitally enabled banks in Japan. Launched in 2001, it has consistently been rated in the top 3 banks in Japan for customer service.
I am a keen observer and commentator on financial services and believe that financial services must work harder to improve the customer experience, service and contribution to the customer and the community. I am also a Sloan Fellow and have an MBA from MIT [Massachusetts Institute of Technology], Sloan School of Management.

Could you give our readers a quick teaser on what you will be speaking about at the show?

I will be talking about mobile payments in other markets and analyzing the key success factors. I will also review the state of mobile payments in Vietnam and comment on what it would take for mobile payments to really take off.

Why is this topic close to your heart?

I believe that financial services must work harder to improve the customer experience and contribute to the customer and the community. Mobile has great potential to transform financial services and mobile payments can really help increase financial access and the cost and speed of moving money. Both those factors create better value for users.

What do you think the key challenges are around the future of mobile wallets in Vietnam?

I will discuss this during my talk at the conference. Experience from other markets where mobile payments have seen significant growth tells us that there are a few things that must come together. In Vietnam, when we see these happen, we will see rapid growth in mobile payments.

Why are you excited to attend the show?

Shows like Seamless Vietnam are a great opportunity to meet people and to learn from the other speakers and participants.

Sandeep Deobhakta is one of over 50 speakers who will be taking the stage over two days at Seamless Vietnam. To find out more, and to book your tickets, check out our website here.
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