On March 3, 2025, core management systems and important reports under the new model were implemented promptly, ensuring continuity, accuracy, and financial security in the operational management of the entire State Bank system.
On February 24, 2025, the Government issued Decree No. 26/2025/ND-CP on the functions, tasks, powers and organizational structure of the State Bank of Vietnam . Specifically, the organizational structure of the State Bank was reduced by 6 units at the Central Bank; the Banking Inspection and Supervision Agency was reorganized into 3 units; 63 State Bank branches in provinces and cities were arranged into 15 regional State Banks, each regional State Bank in charge of many neighboring provinces.
The entire industry has reached a high level of consensus, closely following the direction of the Central and Government to review and restructure the system, ensuring the correct progress and roadmap. On March 1, 2025, the entire system of 15 regional State Banks and new units at the central bank were ready to go into operation.
The revolutionary streamlining of the apparatus helps the State Bank operate more efficiently, is less cumbersome, and helps decisions be communicated more smoothly. In less than three months, the State Bank has completed the organizational restructuring.
With this change, in addition to streamlining resources, converting the reporting and management system is a top priority to ensure timely operation according to the deadline of March 1, 2025 without interruption.
Accordingly, the State Bank's operational technology system, especially the payment and data information systems, core banking systems, management and accounting systems, treasury management and issuance systems, also require timely upgrading and conversion to meet the new operating methods of the apparatus.
Since December 2024, during the drafting phase of Decree No. 26/2025/ND-CP, the State Bank's Information Technology Department has proactively coordinated with partners, including FPT (the technology unit responsible for implementing the construction and maintenance of the State Bank's core banking, accounting, budgeting and system integration systems since 2014) to develop a plan to implement system conversion.
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The State Bank's Information Technology Department closely coordinated with partners, including FPT Corporation, to convert the core technology system within 3 months. |
With the understanding of the business and experience in building and operating the platform system, the team of banking and finance experts of FPT Corporation quickly worked with the State Bank's IT Department to develop and advise on technology solutions, and carry out data conversion accurately, securely and safely on 3 main systems integrated with each other through the ESB integration axis including: the core banking system - Core banking of the State Bank, the management and accounting system of financial operations of the State Bank - ERP, the centralized treasury management and issuance system of the State Bank - CMO, the integrated platform connecting all State Bank systems - ESB.
According to the new streamlined structure, all data within the system also needs to be redefined and restructured, synchronized with the new model from 63 provinces down to 15 branches, thereby updating reports to ensure accuracy with new data after conversion.
At the same time, FPT supports the State Bank's IT Department in developing detailed conversion scenarios and participating in training and drills with the State Bank's branches and transaction offices; supporting branches and transaction offices in evaluating data before and after conversion.
The State Bank payment system plays the role of a backbone system, settling payment transactions in the economy , with a total transaction value of VND 830,000 billion/day. The assessment to develop a conversion plan for 15 IT systems related to 63 provinces and cities to 15 regional State Banks is extremely important, especially when the time is only 3 months, which is a huge amount of work.
As a result, with the determination and close coordination from the State Bank's IT Department and FPT team, the system was successfully converted and operated stably, helping to ensure smooth management of monetary security, treasury, payment, etc. of the State Bank.
To thoroughly prepare for the transition, FPT's team of technology experts coordinated with the Department of Information Technology, the Department of Finance and Accounting, the Treasury Issuance Department, the Payment Department and branches of the State Bank to develop detailed scenarios, conduct two rehearsals and officially go-live, and handle differences down to the last cent to ensure that the most important reporting systems of the State Bank are accurate.
The most important task is to support the State Bank in streamlining its apparatus without interrupting management activities, while ensuring that data and operational functions at 63 old branches are completely transferred to 15 new regional State Banks.
Nearly 50 FPT finance and banking experts worked day and night with the State Bank's IT Department in just over 2 months with 6,300 working hours to complete a large amount of work, without delay, FPT technology experts shared.
In the next phase, the State Bank will continue to standardize the system with hundreds of other related reports, synchronizing technology systems to meet operational management requirements.
2025 is a pivotal year for the socio-economic development plan for the 2021-2025 period and preparation for the 14th Party Congress. With its vital role in the economy, the State Bank is affirming its pioneering and rapid steps in stabilizing the new apparatus, thereby improving the effectiveness and efficiency of operations, accompanying the Government to achieve strong growth targets.
Source: https://nhandan.vn/ngan-hang-nha-nuoc-hoan-tat-chuyen-doi-he-thong-cong-nghe-loi-theo-nghi-quyet-18nq-tw-post863753.html
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