Vietbank put into operation the new core banking system

According to the bank representative, this is considered a long step in the development process of the bank, demonstrating the determination of the Board of Directors and the bank's management board to have focused resources and finance for Vietbank to take steps. Strong transformation in the future.

The implementation of the core banking project called The Transformer - Vietbank Prime takes place in the context that the bank enters the process of system and structural transformation in the 2016-2020 development strategy to help Vietbank with competitive advantages. The competition includes competing with domestic and foreign banks as well as aiming to become one of the leading digital banks in Vietnam.

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Operating at a transaction office of Vietbank.

This project brings a strategic change to the bank's key systems, including customer-related systems and distribution channels; system of credit appraisal, approval and management; information technology system; risk management system; digital banking system.

The bank selected partner is Finastra - the company has successfully implemented the core banking system for many large banks in the world and in Vietnam, jointly coordinating to implement this project. "This is one of the core projects with large budget investment in the Vietnamese banking system," said Duong Nhat Nguyen - Vice Chairman of the Board of Directors of Vietbank - the project steering committee.

According to Mr. Michael Fuller - Head of Northeast Asia of Finastra, when putting into operation the new core system, Vietbank brings convenient experiences for customers as well as building a strict risk management process. and create differentiated products.

In addition, with Fusion Banking technology, Vietbank improves the transaction channel system, helping customers interact more conveniently and easily. In particular, this technology is very flexible, capable of supporting customers and partners, can continue to develop new solutions based on the basic platform. "All strengths will create a solid foundation for Vietbank to develop fast, strong and safe," the bank representative emphasized.

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The project will help Vietbank have a solid foundation for fast, strong and safe development.

For customers, the features of the new system compared to the old system, bring different experiences as well as create products and services according to each customer's needs. For employees, the new system helps to improve labor productivity thanks to its convenience, especially the salesmen. Accordingly, the teller will use a lot of tasks without waiting. For banks, the new core system will help the operation and risk control process be automated and parameterized so that decisions can be made throughout, reducing human manipulation. Thereby reducing operating errors and helping to manage risk better.