Mr. Nikhil Gujral - Deputy General Director of South and Southeast Asia Temenos presented the award cup "Fastest Core Banking Implementation in Asia" to Mr. Vu Quoc Khanh - Permanent Deputy General Director of LPBank
LPBank is the first bank in Vietnam as well as in Asia to be honored by Temenos with the award "Fastest Core Banking Implementation in Asia". This award is a worthy recognition of LPBank's efforts in successfully implementing the project to convert to a new technology platform - Core Banking T24 in a record short time of only 7 months. This is considered a miracle in Core Banking conversion of Vietnamese banks in particular and banks in the region in general, when similar projects usually last about 2 years. With the strategy of becoming the leading retail bank in Vietnam, the conversion to a modern Core Banking system, with new technology, safety and security, is ready to provide outstanding business development solutions on a digital platform in a short time, ensuring the connection between customers, partners, ecosystems, as well as handling internal work of LPBank conveniently and perfectly in the shortest and safest time. That is the prerequisite for success.
LPBank is the first bank in Vietnam as well as in Asia to be honored by Temenos with the award "Fastest Core Banking Deployment in Asia"
The successful implementation of the CoreBanking T24 system will promote digitalization initiatives to build a solid, advanced technology platform and help improve customer experience, with smart operations and effective risk control. This is a particularly important transformation project, with a large scope, scale, high technology content, complexity with positive effects and far-reaching impacts on all areas of the Bank's business operations. Temenos' CoreBanking T24 is currently considered the world's leading technology solution from Switzerland, a product highly appreciated by the world's leading prestigious rating agencies such as Gartner, IDC, Celent. To date, this system has been used in more than 3,000 global banks. In Vietnam alone, CoreBanking T24 is trusted and chosen by many large banks such as MB, Sacombank , VPBank... Mr. Ho Nam Tien - General Director of LPBank shared: " Implementing the project in a short time in the context of a large network system, customer base and large database volume in parallel with maintaining business operations is a big challenge for the Bank. We have maintained a flexible working mechanism, adhered to discipline, closely followed the project's plan and goals, and had timely adjustment plans to ensure progress. This success is thanks to the unanimity, determination and tireless efforts of the entire LPBank system over the past time". Appreciating LPBank's core banking transformation, Mr. Ramki Ramakrishnan, Managing Director of Asia Pacific of Temenos said: “LPBank has achieved commendable success in rapidly deploying Temenos Core. This achievement is the result of the determination and will of the Board of Directors, the project team and the entire LPBank system. We believe that LPBank will go further in the future on the basis of a secure, scalable and flexible core banking platform.
LPBank delegation took a souvenir photo with Temenos Leaders in Asia - Pacific region
In the next phase, LPBank will continue to deploy more than 40 digital transformation projects simultaneously in the fields of business services, operations and administration. Specifically: Upgrading the security system according to international standards; Building data platforms ready for data-driven decisions through standardization and centralization, deploying big data, advanced analysis; Developing a multi-channel transaction platform (Omnichannel), deploying process digitalization and extensive automation... will create a foundation for technology modernization, promoting increased customer experience, sustainable and prudent business development. In parallel with CoreBanking operations, in the coming time, LPBank will enhance customer experience through research and testing of new products to bring customers seamless and consistent experiences with services from online to offline, aiming for more innovative services, faster market access at more optimal costs.LPBank
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