Vietnam’s FE Credit shifts mission-critical apps to AWS

By Leandra Monteiro

Vietnamese consumer finance firm FE Credit has announced that it has migrated most of its mission-critical applications to Amazon Web Services (AWS) as part of a digital transformation effort that will see it move the majority of its IT infrastructure to the cloud.

With the move to AWS, FE CREDIT claims that it is Vietnam’s first non-bank financial services provider to be fully hosted in cloud. This will enable it to respond faster to the company’s business objectives in terms of market penetration and expansion.

In June last year, FE Credit revealed its decision to upgrade its existing Finacle Digital Banking solution suite, by Infosys subsidiary EdgeVerve Systems, to the latest version and migrate it from an on-premises deployment to a software-as-a-service (SaaS) model. FE CREDIT has now migrated most of its mission-critical applications to AWS, including the Infosys Finacle Digital Banking solution suite, and its own $NAP and SHIELD mobile applications for consumer loan, credit card, and insurance products.

“At FE CREDIT we focus on providing our customers with innovative financial services that exceed their expectations. And moving our entire infrastructure to AWS is part of our decision to scale up our capacity for innovation. We gain the speed and agility required to launch new financial services more easily, and we are better able to fulfil the financial needs of future customers,” said Kalidas Ghose, Vice Chairman and Chief Executive Officer at FE CREDIT, according to media reports.

“Cloud technology helps financial services companies to rapidly deliver more innovative and personalized customer services. By going all-in on the world’s leading cloud, FE CREDIT gains access to an unmatched portfolio of cloud services to remove technology barriers in the financial services industry and invent services which solve meaningful customer problems,” said Conor McNamara, Managing Director of ASEAN at AWS, according to media reports.

Post the shift, FE Credit is also able to manage and automate compliance more easily by leveraging AWS’ infrastructure, all the while continuing to store personal customer data safely in its on-premises environment in Vietnam.