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TIMO DIGITAL BANK CEO

In business, ethics and success can coexist

Mr. Jonas Eichhorst, CEO of Timo Digital Bank, discusses his business philosophy.

teachings - itʼs just about whether you remember contribute to creating value and profits for the
and commit to implementing it every day or not. company. At Timo, we firmly believe that our
customers are at the heart of everything we do. Itʼs
% What roles are you currently taking on? not just about meeting regulatory requirements; itʼs
I mainly hold the positions of Executive Chair of about upholding our ethical standards and ensuring
Bykea in Pakistan, the leading local ride-hailing the utmost security and trust for our customers.
provider, Board Director at Protenga in Malaysia, an By way of example, we recently received the
insect company, and CEO of Timo Digital Bank in prestigious PCI DSS certification, a global
Vietnam. However, Timo is my main job at this point. certification focused on data security in financial
These companies, at the surface level, may seem products. Of course, we are proud to be the first
very disconnected, but they ultimately all share a banking provider in Vietnam to be certified under
Mr. Jonas Eichhorst, CEO of Timo Digital Bank desire for creating a positive impact while building this latest PCI DSS 4.0 standard. But the
sustainable, strong businesses. By being able to see certification is only the recognition of us taking our
% As a busy leader with many roles, what such different companies and different stages, I can duties very seriously towards protecting customersʼ
motivated you to think of the concept of a share learnings across other companies. That is payment card details. Regardless of whether
balanced philosophy like Tomi-ism, helping how I reduce the pressure and enjoy the business something is certified or not, the drive to take our
people enjoy life better? of contributing to multiple companies at once. responsibilities seriously must come from within for
For me, work is not just a duty. I have always them to be successfully met, not merely from trying
been intrigued by how individuals like Warren % As the leader of many businesses, what to collect certificates or impress others.
Buffett or athletes turn their professions into works common core values do you strongly commit to
of art. This concept of finding creative expression in within the organization?
business, startups, and teamwork fascinates me. The core philosophy that I aspire to show
While it might appear as workaholism, itʼs akin to people is that, in business, ethics and success can
an athleteʼs dedication to their craft, like Cristiano actually coexist. The idea of creating ten in value for
Ronaldo in football. the customer so you can keep one and everybody
However, I have come to realize the importance is happy is something that I am much more
of balance and broader life dimensions. Itʼs very interested in, rather than just trying to extract
easy to get sucked into an extremely narrow life, as money. Though we may encounter many challenges
I experienced after graduating from high school. in implementing this, I have always tried to maintain
Despite feeling happy about achieving decent this principle in many different companies, fields,
grades, I felt a sense of emptiness, questioning what and over the years. A lot of people say they put the
is next and what the purpose is. So, if you donʼt have customer first and do whatʼs best for them, but very
a balance of different dimensions, it is very hard to few actually do this from within.
find that purpose. My life works because of various
supporting factors - my family, wealth, health, and % So, for you, strong commitment is made not
lifestyle experiences. In fact, what is expressed in only through words but also through action? PCI DSS certification affirms Timo Digital
the Tomi-ism philosophy is already very obvious and Commitment to action must come from ethics, Bankʼs commitment to putting customers and
is mentioned in many philosophical and religious and it is oriented towards values, which, in turn,
customer safety at the heart of all activities

% How have you and Timoʼs Board of Directors
oriented the digital bankʼs development strategy?
During the past two years, we have created
many new products and services. We also put a lot
of effort and dedication into determining who we
are, what value we bring to customers, and
positioning ourselves in the market. We are very
fortunate that, according to international investors,
Timoʼs customer satisfaction, engagement levels,
and customer retention rates are quite high.
But our biggest limitation is still that not
everyone knows about Timo, its functions,
orientation, vision, or what we represent. So, this
year for us, it is a lot about increasing that reach,
helping more people enjoy the benefits of our
services and driving that value for them. %

Mr. Jonas Eichhorst, CEO of Timo Digital Bank, receives its PCI DSS certification, a globally-recognized
information security standard

Website: https://timo.vn Hotline: 1800 6788 Mail: Care@Timo.vn

en.vneconomy.vn May 1, 2024 Vietnam Economic Times 29