Welcome!

News Feed Item

SACOMBANK Selects New Generation Internet and Mobile Banking Solution from Infosys Finacle

HO CHI MINH CITY, Vietnam, December 11, 2012 /PRNewswire/ --

- Bank Aims to Serve the Internet Banking Needs of 2 Million Customers by 2016

Saigon Thuong Tin Commercial Joint Stock Bank (Sacombank)  has announced its partnership with Infosys, a global leader in consulting and technology, to implement the new generation Finacle e-banking & mobile banking solution. The Bank will install Finacle's consumer e-banking, corporate e-banking and mobile banking solutions. The solutions will enable the bank to develop sophisticated internet banking products and services with faster roll out times, targeted at improving customer satisfaction. It will also help influence customer loyalty through unique personalization capabilities, industry-leading security features and intelligent customer insights  that will drive the adoption of online banking.

Given Vietnam's relatively high internet usage rates and strong willingness among customers to adopt new technology, Sacombank envisages an addition of several million e-banking customers over the next few years. The bank, therefore, required an e-banking solution that would offer both flexibility and scalability to support its expansion plans, while improving customer experience. The bank chose Finacle's new generation solution for its extensible architecture and unique persona driven features.

Finacle's e-banking solution will enable Sacombank customers to use advanced online functions and services such as personal financial management, liquidity management and online L/C. Corporate clients, in particular, can submit payment orders via mobile phone after the e-banking system upgrade that is scheduled for December next year. This is in addition to the current internet and mobile phones based services such as intra-bank and bank-to-bank transfers, utility bill payments, term deposit purchase, airlines ticket purchase, prepaid card top up, etc.

Mr. Nguyen Minh Tam, Deputy CEO of Sacombank said: "To keep pace with the development of the banking sector as well as the increasing popularity of the internet and hence higher usage of internet banking, Sacombank has set Information Technology - one of the four key strategies - to be the top priority in the Bank's 2011-2015 development period. In order to achieve this key objective, Sacombank has invested heavily on information technology system in the recent years, including e-banking transaction channel. Therefore, this cooperation with Infosys will open up opportunities for Sacombank to further penetrate in the very potential market and to set solid foundation to become the best service and most competitive bank in Vietnam and the region. The objective of this project is to enhance our capability to serve the e-banking needs of more than 2.000.000 customers by 2016 and to allow customers to make almost all banking transactions over Internet."

Mr. Sanat Rao, Vice President and Global Head - Client Services, Finacle, Infosys said: "Sacombank is a pioneer in the Indo-China market for innovation and commitment to excellence and we are privileged to be chosen as the bank's strategic technology partner.  Channels, especially online and mobile, are the top innovation priorities and key growth levers for tomorrow's banks. With Finacle's proven channel banking solutions, we are committed to helping Sacombank innovate and engage more consumers in newer ways. This as an exciting opportunity for us and strongly underlines Infosys' capabilities to support banks throughout Vietnam and the ASEAN region."

About Sacombank

Saigon Thuong Tin Commercial Joint Stock Bank (Sacombank) was established on 21/12/1991. Sacombank has been a pioneer in expanding its branch network in Laos and Cambodia. Especially, being the only bank in Vietnam to open special branches for women and the Chinese-speaking community. As of 30/09/2012, there are 416 transaction points, including 7 transaction points in Cambodia and Laos. According to the Q3 reports, accumulated profit before tax in 3 first quarters of 2012 was VND 2,107 billion, equivalent to 62% of the plan in 2012. Recently, Standard & Poor's (S & P) highly rated growth prospect of Sacombank and raised the long-term credit rating from B+ to BB-. On the other hand, Sacombank has received many awards from the State Bank and international organizations.

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
Enterprises are striving to become digital businesses for differentiated innovation and customer-centricity. Traditionally, they focused on digitizing processes and paper workflow. To be a disruptor and compete against new players, they need to gain insight into business data and innovate at scale. Cloud and cognitive technologies can help them leverage hidden data in SAP/ERP systems to fuel their businesses to accelerate digital transformation success.
In this presentation, you will learn first hand what works and what doesn't while architecting and deploying OpenStack. Some of the topics will include:- best practices for creating repeatable deployments of OpenStack- multi-site considerations- how to customize OpenStack to integrate with your existing systems and security best practices.
DXWordEXPO New York 2018, colocated with CloudEXPO New York 2018 will be held November 11-13, 2018, in New York City and will bring together Cloud Computing, FinTech and Blockchain, Digital Transformation, Big Data, Internet of Things, DevOps, AI, Machine Learning and WebRTC to one location.
Most DevOps journeys involve several phases of maturity. Research shows that the inflection point where organizations begin to see maximum value is when they implement tight integration deploying their code to their infrastructure. Success at this level is the last barrier to at-will deployment. Storage, for instance, is more capable than where we read and write data. In his session at @DevOpsSummit at 20th Cloud Expo, Josh Atwell, a Developer Advocate for NetApp, will discuss the role and value...
Modern software design has fundamentally changed how we manage applications, causing many to turn to containers as the new virtual machine for resource management. As container adoption grows beyond stateless applications to stateful workloads, the need for persistent storage is foundational - something customers routinely cite as a top pain point. In his session at @DevOpsSummit at 21st Cloud Expo, Bill Borsari, Head of Systems Engineering at Datera, explored how organizations can reap the bene...
Security, data privacy, reliability and regulatory compliance are critical factors when evaluating whether to move business applications from in-house client hosted environments to a cloud platform. In her session at 18th Cloud Expo, Vandana Viswanathan, Associate Director at Cognizant, In this session, will provide an orientation to the five stages required to implement a cloud hosted solution validation strategy.
In his session at 20th Cloud Expo, Scott Davis, CTO of Embotics, discussed how automation can provide the dynamic management required to cost-effectively deliver microservices and container solutions at scale. He also discussed how flexible automation is the key to effectively bridging and seamlessly coordinating both IT and developer needs for component orchestration across disparate clouds – an increasingly important requirement at today’s multi-cloud enterprise.
"DevOps is set to be one of the most profound disruptions to hit IT in decades," said Andi Mann. "It is a natural extension of cloud computing, and I have seen both firsthand and in independent research the fantastic results DevOps delivers. So I am excited to help the great team at @DevOpsSUMMIT and CloudEXPO tell the world how they can leverage this emerging disruptive trend."
The current age of digital transformation means that IT organizations must adapt their toolset to cover all digital experiences, beyond just the end users’. Today’s businesses can no longer focus solely on the digital interactions they manage with employees or customers; they must now contend with non-traditional factors. Whether it's the power of brand to make or break a company, the need to monitor across all locations 24/7, or the ability to proactively resolve issues, companies must adapt to...
René Bostic is the Technical VP of the IBM Cloud Unit in North America. Enjoying her career with IBM during the modern millennial technological era, she is an expert in cloud computing, DevOps and emerging cloud technologies such as Blockchain. Her strengths and core competencies include a proven record of accomplishments in consensus building at all levels to assess, plan, and implement enterprise and cloud computing solutions. René is a member of the Society of Women Engineers (SWE) and a m...
In his session at 20th Cloud Expo, Mike Johnston, an infrastructure engineer at Supergiant.io, discussed how to use Kubernetes to set up a SaaS infrastructure for your business. Mike Johnston is an infrastructure engineer at Supergiant.io with over 12 years of experience designing, deploying, and maintaining server and workstation infrastructure at all scales. He has experience with brick and mortar data centers as well as cloud providers like Digital Ocean, Amazon Web Services, and Rackspace. H...
DXWorldEXPO LLC announced today that ICC-USA, a computer systems integrator and server manufacturing company focused on developing products and product appliances, will exhibit at the 22nd International CloudEXPO | DXWorldEXPO. DXWordEXPO New York 2018, colocated with CloudEXPO New York 2018 will be held November 11-13, 2018, in New York City. ICC is a computer systems integrator and server manufacturing company focused on developing products and product appliances to meet a wide range of ...
@DevOpsSummit at Cloud Expo, taking place November 12-13 in New York City, NY, is co-located with 22nd international CloudEXPO | first international DXWorldEXPO and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time t...
Founded in 2000, Chetu Inc. is a global provider of customized software development solutions and IT staff augmentation services for software technology providers. By providing clients with unparalleled niche technology expertise and industry experience, Chetu has become the premiere long-term, back-end software development partner for start-ups, SMBs, and Fortune 500 companies. Chetu is headquartered in Plantation, Florida, with thirteen offices throughout the U.S. and abroad.
DXWorldEXPO | CloudEXPO are the world's most influential, independent events where Cloud Computing was coined and where technology buyers and vendors meet to experience and discuss the big picture of Digital Transformation and all of the strategies, tactics, and tools they need to realize their goals. Sponsors of DXWorldEXPO | CloudEXPO benefit from unmatched branding, profile building and lead generation opportunities.