LPBank: Innovating and creating with the Data for Life 2024 competition.

After five months of competition, with LPBank as the diamond sponsor, the international competition “Data for Life 2024 ” made a strong impression by showcasing outstanding digital technology products and solutions applied in practice to serve the national digital transformation process. On November 27th, the final round of the “Data for Life 2024” competition, organized by the Ministry of Public Security in collaboration with the School of Information Technology and Communications - Hanoi University of Science and Technology, found six outstanding teams with innovative and creative data technology solutions that are thoroughly applied to products serving the digital government, digital economy, and digital society.

Ms. Nguyen Anh Van, Deputy General Director of LPBank (far right), along with representatives from the Ministry of Public Security, presented the award to the best performing team in the final round of the " Data for Life 2024" competition.

Attending and presenting awards to the best teams, Ms. Nguyen Anh Van - Deputy General Director of Loc Phat Vietnam Bank (LPBank) - highly appreciated the innovative and groundbreaking ideas of this year's competing teams. In particular, during the panel discussion "Data in Life and Technological Solutions" within the framework of the competition's final round, LPBank representatives also shared about the practical significance and value of data in life, especially for businesses in the finance and banking sector. According to Ms. Anh Van, innovation is a key driving force for economic growth; however, this is both an opportunity and a challenge for businesses, especially those in the finance and banking sector, as they face many major challenges arising from the digital transformation revolution with the trend of cashless payments and the application of Blockchain technology; the challenge of providing financial services to low-income individuals and improving financial literacy for the population. In addition, cybersecurity is a crucial issue that businesses need to focus on in fraud prevention and data protection, and they should also apply artificial intelligence to personalize services and automate processes to enhance customer experience.

Ms. Nguyen Anh Van – Deputy General Director of LPBank, shared her insights at the seminar.

As a pioneering enterprise in digital transformation and the application of data to business processes, LPBank is ready to cooperate, share experiences, and support contestants, winning teams, and fintech startups. “We believe that close cooperation between the Government, banks, startups, and investors will create strong momentum for spreading the spirit and meaning of the competition, as well as developing the data-driven innovation and startup ecosystem in Vietnam,” Ms. Anh Van shared.

LPBank is the diamond sponsor for the international competition “Data for Life 2024”.

With a consistent focus on "customer-centricity," LPBank applies digital technology as a driving force for development, creating innovative digital solutions to serve customers. Simultaneously, LPBank prioritizes investment and funding for research and application of modern digital solutions, not only in the financial sector but also in contributing to the national digital transformation process. In the race for digital transformation, LPBank is also a symbol of innovation, daring to break through to achieve comprehensive, effective, and sustainable transformation. As a result, the bank has reaped the rewards of its automation efforts, receiving the "Best Automation Technology Implementation Bank in Vietnam" award from The Asian Banker – a leading financial rating organization in Asia. LPBank is the first bank in Vietnam and Asia to receive the Temenos award for "Fastest Core Banking Deployment in Asia" and the Finastra award for "Fastest Kondor Treasury System Deployment in Asia-Pacific" . Recently, LPBank also launched a new interface for its LPBank Digital Banking application and the LPBank Biz application specifically for corporate customers, marking a step forward in its digital transformation journey and affirming its mission to provide customers with a modern, streamlined, and personalized digital financial ecosystem experience.

LPBank (Loc Phat Vietnam Bank) is known as one of the fastest-growing joint-stock banks in recent years. Besides its extensive network with over 1,200 transaction points covering all 63 provinces and cities nationwide, LPBank also affirms its position as a powerful financial institution, being one of the 14 Vietnamese banks in the group of most important credit institutions in the system, and among the Top 500 banks with the highest brand value globally, building strong trust with partners and customers.

K.Oanh