On April 9, National Commercial Joint Stock Bank (NCB) signed a cooperation agreement to deploy cloud computing solutions and centralized data management systems on the Google Cloud platform with two technology partners, CMC Telecom and LUMIQ.

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Delegates from NCB, CMC Telecom, Google and LUMIQ at the signing ceremony

According to the signed content, NCB will work with CMC Telecom (Google Cloud's first Local Premier Partner in Vietnam) to deploy Google Cloud cloud computing infrastructure - provided by the world's leading partner Google.

Along with that, the bank will coordinate with LUMIQ to deploy a centralized data platform Data Platform according to the modern international standard Data LakeHouse architecture, while fully complying with the requirements and regulations on technology standards of the State Bank. LUMIQ is a data and analysis company, with nearly 20 years of implementing data projects for many international financial customers.

With modern, highly secure, world-leading Cloud infrastructure, NCB will optimize operations, equip the capacity to flexibly expand technology infrastructure, optimize costs, thereby supporting the acceleration of technology project implementation to serve its operations and business.

With the new Data Platform, NCB can improve its data management and exploitation capabilities: standardize centralized data quality, apply matrix-based decentralization measures, track and protect data. In addition, by applying advanced data analysis techniques, the bank will improve operational efficiency, manage risks, and achieve optimal performance in strategic planning and business decision making. On the other hand, the data platform is an important basis for deploying artificial intelligence and big data (AI & BigData) applications, helping NCB launch new products and provide superior user experiences for customers in the future.

Mr. Ta Kieu Hung - General Director of NCB expressed: “NCB and its partners have identified a suitable strategy for the next 5 years. Accordingly, a new and unique business model for NCB has been chosen to help the bank transform strongly, to become an effective, sustainable financial institution and contribute more to society. We are very pleased to have the companionship of leading technology partners”.

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Mr. Ta Kieu Hung - General Director of NCB shared at the signing ceremony

At the event, Mr. Nguyen Duc Toan - General Director of Google Cloud Vietnam emphasized: "When Vietnam's banking industry wants to digitize, data platforms and cloud infrastructure are essential factors for this development. Organizations can then maximize the potential of data to enhance customer experience, improve risk management processes, legal compliance, as well as meet scalability according to market demand. In addition, these solutions also create "leverage" for innovation, increasing the application of technology such as artificial intelligence. The cooperation with NCB continues to affirm Google Cloud's commitment to promoting the development of organizations in the digital economy as well as exploiting the power of technology for the benefit of the community".

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National Commercial Joint Stock Bank (NCB) will deploy Google Cloud cloud computing infrastructure

“We believe that with our expertise in implementing data projects for FSI clients, LUMIQ will contribute to the success of this project,” said Mr. Shoaib Mohammad, CEO of LUMIQ.

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National Commercial Joint Stock Bank (NCB) signed with LUMIQ

The architecture and Data Platform technology that NCB has chosen is the latest technology available today, ready for big data problems, advanced data analysis, artificial intelligence, helping banks make optimal decisions based on data (Data Driven). With the successful implementation of this project, NCB will be one of the pioneering banks in Vietnam to use the leading modern data platform and architecture on the market.

Mr. Ngo Trong Hieu - Executive Vice President of CMC Technology Group, General Director of CMC Telecom affirmed: “As a partner of NCB for many years, CMC Telecom understands the requirements and challenges of NCB in the coming period. With the vision of becoming the leading digital infrastructure provider in the region in general and the banking and finance segment in particular, CMC Telecom is committed to providing and establishing for NCB a reliable, efficient and secure cloud computing environment”.

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National Commercial Joint Stock Bank (NCB) signed with CMC Telecom

Experts assessed that with the signing of the contract to deploy cloud computing infrastructure and centralized data management system, NCB began to possess important platforms for comprehensive digital transformation; establish banking experiences through innovative and creative thinking; aim to pioneer the development of products and services on the leading modern technology platform according to the set strategic goals.

Thuy Nga