VIB implements Temenos core banking solution with AWS

According to the announcement, VIB is set to implement the latest Core banking version R23 from Temenos on the AWS cloud and VIB's private cloud platforms, marking it as the first bank to deploy the Temenos Core banking system on a cloud computing platform in Vietnam. 

The project is a collaboration with ITSS, a technology solutions and IT services company from Switzerland. Officials from the bank shared the vision behind the adoption stating that VIB seeks to always stand at the forefront of investing in technology initiatives, digitalisation, and building an advanced technology platform. 

Furthermore, the press release continues to state that the banking industry in Vietnam is undergoing significant transformation, driven by an increase in customer demand for digital experiences and the constant advancement of technology. Particularly, the migration of core banking systems to the cloud has emerged as an important factor, promising flexibility, innovation, and enhanced customer experiences.   

In this project, VIB will deploy the latest version of Temenos Core Banking on AWS cloud and VIB private cloud. The deployment intends to ensure compliance, safety, and continuous system operation, marking an important step towards the comprehensive restructuring and innovation of VIB's digital platform, aligned with its 3 drivers - Mobile first, Cloud first, and AI first. 

Cloud first, VIB pioneers the deployment of Temenos Core Banking solution on the Cloud, using cloud-native services. This ensures automatic and rapid on-demand infrastructure scalability, and seamless service delivery to users, mitigating the impact of service disruption, and optimising development and operational costs. Mobile first, Mobile Banking is one of the key factors, and deploying Temenos Core Banking on the Cloud provides robust APIs, high operational performance, and flexibility, enabling VIB to maintain 24/7 services, enhancing the best customer experience, and ensuring seamless access to banking services via mobile banking. AI first, VIB has been leveraging Artificial Intelligence and machine learning to provide predictive analytics and suitable financial solutions. The deployment of Temenos Core Banking aims to ensure the enhancement of input data quality through tight automated system controls.