Vietnam International Bank, Temenos & AWS to drive digital banking innovation

By Gloria Mathias

Vietnam International Bank (VIB) has announced the implementation of Temenos core banking solution on the cloud, in collaboration with Amazon Web Services (AWS) and ITSS. This event marks VIB’s significance as a bank to implement the Temenos Core Banking solution on the cloud in Vietnam.

Accordingly, VIB will implement the latest Core Banking version R23 from Temenos on the AWS cloud and VIB’s private cloud platforms. The project is a collaboration with ITSS, a technology solutions and IT services company from Switzerland.

Tran Nhat Minh, Deputy CEO-CIO of VIB, shared, “With the strategic positioning to become a leading retail bank in Vietnam, VIB is always at the forefront of investing in technology initiatives, digitalization, and building an advanced and robust technology platform. The banking industry in Vietnam is undergoing a significant transformation, driven by the increase in customer demand for digital experiences and the constant advancement of technology. Particularly, the migration of core banking systems to the cloud has emerged as a game-changing factor, promising flexibility, innovation, and enhanced customer experiences. This core banking modernization project on the Cloud reaffirms VIB’s commitment to continuously improve service quality and operational efficiency while creating a strong foundation to serve customers in a prominent digital era.”

In this project, VIB will deploy the latest version of Temenos Core Banking on the AWS cloud and the VIB private cloud. The deployment ensures compliance, safety, and continuous system operation, marking an important step towards the comprehensive restructuring and innovation of VIB’s digital platform, aligned with its 3 drivers; Mobile first – Cloud first – AI first.

Ramki Ramakrishnan, Managing Director, APAC, Temenos, remarked, “We are delighted to welcome VIB as the first bank in Vietnam to embrace Temenos core banking on the cloud, further solidifying our market-leading position in this vital market. Vietnam’s banking sector has experienced significant growth over the last decade and is home to some of the largest and most innovative banks in Southeast Asia, and VIB is leading the way. With VIB’s forefront position in cloud-powered banking, we are excited to be working with them as their strategic partner to support their future growth.”