CORE banking of commercial banks in Vietnam

Flexible CORE Banking system is the key competitive advantage with enhanced processing ability of day-to-day transactions. It does not only deliver a faster banking service in making deposits, issuing loans but also create a smoother customer experience for Internet and Mobile Banking.

As a result of economic recovery, combining with appropriate financial policies, the banking sector was experienced a steady growth in transaction demand. Thus, being able to maintain the smooth operation across branches is increasingly a challenge for most banks. Specifically, it’s estimated that banks in top 4 have to process approximately 17 million transactions per day.

Their top priorities are regulatory compliance, improving asset quality, enhancing customer centricity, focusing on digital convergence, and tackling competition from other finance institutions. However, most Banks currently obsolete CORE banking platforms with poor automation, lack of a unified view & control and high maintenance costs.

In addition, the deployment of core banking or banking modernization encounters lots of difficulties. A cutting-edge core banking must be able to tightly manage, efficiently operate, be scalable, quickly adapt, create competitive advantages and exceptional values when banks have needs to implement different services, such as ATM, Mobile Banking, Internet Banking.

Related Article:
https://www.linkedin.com/pulse/core-banking-commercial-banks-vietnam-anh-truong