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
Zerto exhibited at SYS-CON's 18th International Cloud Expo®, which took place at the Javits Center in New York City, NY, in June 2016. Zerto is committed to keeping enterprise and cloud IT running 24/7 by providing innovative, simple, reliable and scalable business continuity software solutions. Through the Zerto Cloud Continuity Platform™, organizations can seamlessly move and protect virtualized workloads between public, private and hybrid clouds. The company’s flagship product, Zerto Virtual...
As businesses adopt functionalities in cloud computing, it’s imperative that IT operations consistently ensure cloud systems work correctly – all of the time, and to their best capabilities. In his session at @BigDataExpo, Bernd Harzog, CEO and founder of OpsDataStore, will present an industry answer to the common question, “Are you running IT operations as efficiently and as cost effectively as you need to?” He will expound on the industry issues he frequently came up against as an analyst, and...
All clouds are not equal. To succeed in a DevOps context, organizations should plan to develop/deploy apps across a choice of on-premise and public clouds simultaneously depending on the business needs. This is where the concept of the Lean Cloud comes in - resting on the idea that you often need to relocate your app modules over their life cycles for both innovation and operational efficiency in the cloud. In his session at @DevOpsSummit at19th Cloud Expo, Valentin (Val) Bercovici, CTO of Soli...
"We're bringing out a new application monitoring system to the DevOps space. It manages large enterprise applications that are distributed throughout a node in many enterprises and we manage them as one collective," explained Kevin Barnes, President of eCube Systems, in this SYS-CON.tv interview at DevOps at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
SYS-CON Events announced today that CA Technologies has been named "Platinum Sponsor" of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, New York, and 21st International Cloud Expo, which will take place in November in Silicon Valley, California.
SYS-CON Events announced today that delaPlex will exhibit at SYS-CON's @CloudExpo, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. delaPlex pioneered Software Development as a Service (SDaaS), which provides scalable resources to build, test, and deploy software. It’s a fast and more reliable way to develop a new product or expand your in-house team.
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo 2016 in New York. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place June 6-8, 2017, at the Javits Center in New York City, New York, is co-located with 20th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry p...
Extreme Computing is the ability to leverage highly performant infrastructure and software to accelerate Big Data, machine learning, HPC, and Enterprise applications. High IOPS Storage, low-latency networks, in-memory databases, GPUs and other parallel accelerators are being used to achieve faster results and help businesses make better decisions. In his session at 18th Cloud Expo, Michael O'Neill, Strategic Business Development at NVIDIA, focused on some of the unique ways extreme computing is...
The explosion of new web/cloud/IoT-based applications and the data they generate are transforming our world right before our eyes. In this rush to adopt these new technologies, organizations are often ignoring fundamental questions concerning who owns the data and failing to ask for permission to conduct invasive surveillance of their customers. Organizations that are not transparent about how their systems gather data telemetry without offering shared data ownership risk product rejection, regu...
WebRTC sits at the intersection between VoIP and the Web. As such, it poses some interesting challenges for those developing services on top of it, but also for those who need to test and monitor these services. In his session at WebRTC Summit, Tsahi Levent-Levi, co-founder of testRTC, reviewed the various challenges posed by WebRTC when it comes to testing and monitoring and on ways to overcome them.
Every successful software product evolves from an idea to an enterprise system. Notably, the same way is passed by the product owner's company. In his session at 20th Cloud Expo, Oleg Lola, CEO of MobiDev, will provide a generalized overview of the evolution of a software product, the product owner, the needs that arise at various stages of this process, and the value brought by a software development partner to the product owner as a response to these needs.
The Internet of Things can drive efficiency for airlines and airports. In their session at @ThingsExpo, Shyam Varan Nath, Principal Architect with GE, and Sudip Majumder, senior director of development at Oracle, discussed the technical details of the connected airline baggage and related social media solutions. These IoT applications will enhance travelers' journey experience and drive efficiency for the airlines and the airports.
For organizations that have amassed large sums of software complexity, taking a microservices approach is the first step toward DevOps and continuous improvement / development. Integrating system-level analysis with microservices makes it easier to change and add functionality to applications at any time without the increase of risk. Before you start big transformation projects or a cloud migration, make sure these changes won’t take down your entire organization.
In his keynote at @ThingsExpo, Chris Matthieu, Director of IoT Engineering at Citrix and co-founder and CTO of Octoblu, focused on building an IoT platform and company. He provided a behind-the-scenes look at Octoblu’s platform, business, and pivots along the way (including the Citrix acquisition of Octoblu).
In the first article of this three-part series on hybrid cloud security, we discussed the Shared Responsibility Model and examined how the most common attack strategies persist, are amplified, or are mitigated as assets move from data centers to the cloud. Today, we’ll look at some of the unique security challenges that are introduced by public cloud environments. While cloud computing delivers many operational, cost-saving and security benefits, it takes place in a public, shared and on-demand ...