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
Basho Technologies has announced the latest release of Basho Riak TS, version 1.3. Riak TS is an enterprise-grade NoSQL database optimized for Internet of Things (IoT). The open source version enables developers to download the software for free and use it in production as well as make contributions to the code and develop applications around Riak TS. Enhancements to Riak TS make it quick, easy and cost-effective to spin up an instance to test new ideas and build IoT applications. In addition to...
Predictive analytics tools monitor, report, and troubleshoot in order to make proactive decisions about the health, performance, and utilization of storage. Most enterprises combine cloud and on-premise storage, resulting in blended environments of physical, virtual, cloud, and other platforms, which justifies more sophisticated storage analytics. In his session at 18th Cloud Expo, Peter McCallum, Vice President of Datacenter Solutions at FalconStor, discussed using predictive analytics to mon...
Organizations planning enterprise data center consolidation and modernization projects are faced with a challenging, costly reality. Requirements to deploy modern, cloud-native applications simultaneously with traditional client/server applications are almost impossible to achieve with hardware-centric enterprise infrastructure. Compute and network infrastructure are fast moving down a software-defined path, but storage has been a laggard. Until now.
Internet of @ThingsExpo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with the 19th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world and ThingsExpo Silicon Valley Call for Papers is now open.
IoT is rapidly changing the way enterprises are using data to improve business decision-making. In order to derive business value, organizations must unlock insights from the data gathered and then act on these. In their session at @ThingsExpo, Eric Hoffman, Vice President at EastBanc Technologies, and Peter Shashkin, Head of Development Department at EastBanc Technologies, discussed how one organization leveraged IoT, cloud technology and data analysis to improve customer experiences and effi...
SYS-CON Events announced today that Isomorphic Software will exhibit at DevOps Summit at 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Isomorphic Software provides the SmartClient HTML5/AJAX platform, the most advanced technology for building rich, cutting-edge enterprise web applications for desktop and mobile. SmartClient combines the productivity and performance of traditional desktop software with the simp...
"We've discovered that after shows 80% if leads that people get, 80% of the conversations end up on the show floor, meaning people forget about it, people forget who they talk to, people forget that there are actual business opportunities to be had here so we try to help out and keep the conversations going," explained Jeff Mesnik, Founder and President of ContentMX, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
"When you think about the data center today, there's constant evolution, The evolution of the data center and the needs of the consumer of technology change, and they change constantly," stated Matt Kalmenson, VP of Sales, Service and Cloud Providers at Veeam Software, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Let’s face it, embracing new storage technologies, capabilities and upgrading to new hardware often adds complexity and increases costs. In his session at 18th Cloud Expo, Seth Oxenhorn, Vice President of Business Development & Alliances at FalconStor, discussed how a truly heterogeneous software-defined storage approach can add value to legacy platforms and heterogeneous environments. The result reduces complexity, significantly lowers cost, and provides IT organizations with improved efficienc...
With 15% of enterprises adopting a hybrid IT strategy, you need to set a plan to integrate hybrid cloud throughout your infrastructure. In his session at 18th Cloud Expo, Steven Dreher, Director of Solutions Architecture at Green House Data, discussed how to plan for shifting resource requirements, overcome challenges, and implement hybrid IT alongside your existing data center assets. Highlights included anticipating workload, cost and resource calculations, integrating services on both sides...
In his session at @DevOpsSummit at 19th Cloud Expo, Yoseph Reuveni, Director of Software Engineering at Jet.com, will discuss Jet.com's journey into containerizing Microsoft-based technologies like C# and F# into Docker. He will talk about lessons learned and challenges faced, the Mono framework tryout and how they deployed everything into Azure cloud. Yoseph Reuveni is a technology leader with unique experience developing and running high throughput (over 1M tps) distributed systems with extre...
Manufacturers are embracing the Industrial Internet the same way consumers are leveraging Fitbits – to improve overall health and wellness. Both can provide consistent measurement, visibility, and suggest performance improvements customized to help reach goals. Fitbit users can view real-time data and make adjustments to increase their activity. In his session at @ThingsExpo, Mark Bernardo Professional Services Leader, Americas, at GE Digital, discussed how leveraging the Industrial Internet a...
Big Data engines are powering a lot of service businesses right now. Data is collected from users from wearable technologies, web behaviors, purchase behavior as well as several arbitrary data points we’d never think of. The demand for faster and bigger engines to crunch and serve up the data to services is growing exponentially. You see a LOT of correlation between “Cloud” and “Big Data” but on Big Data and “Hybrid,” where hybrid hosting is the sanest approach to the Big Data Infrastructure pro...
In his session at 18th Cloud Expo, Sagi Brody, Chief Technology Officer at Webair Internet Development Inc., and Logan Best, Infrastructure & Network Engineer at Webair, focused on real world deployments of DDoS mitigation strategies in every layer of the network. He gave an overview of methods to prevent these attacks and best practices on how to provide protection in complex cloud platforms. He also outlined what we have found in our experience managing and running thousands of Linux and Unix ...
Cloud analytics is dramatically altering business intelligence. Some businesses will capitalize on these promising new technologies and gain key insights that’ll help them gain competitive advantage. And others won’t. Whether you’re a business leader, an IT manager, or an analyst, we want to help you and the people you need to influence with a free copy of “Cloud Analytics for Dummies,” the essential guide to this explosive new space for business intelligence.