Vietnam’s PVcomBank and CMC Telecom have successfully deployed the OpenShift-based service integration backbone (ESB) on the AWS cloud.
PVcomBank is a fully licensed and regulated bank in Vietnam with comprehensive core banking products and services. It has a network of 109 transaction offices in major provinces and cities in Vietnam that provide a wide range of products services for its individual and corporate clients.
This development is a significant step in PVcomBank’s digital transformation technology projects in 2021 and going forward. PVcomBank is one of the leading banks which uses digitisation to promote the development of products and services, with the goal of improving the customer experience when they use the bank’s services.
In recent years, PVcomBank has made significant progress in the digital banking segment, bringing digital financial products and services to customers while also enhancing their experience.
Le Anh Vu, Chief Innovation Officer of CMC Telecom said, “ESB is the most important integrated backbone system of the Bank, which has been deployed by technology experts of CMC Telecom and AWS in collaboration with customers after many years. many testing steps to assess infrastructure capacity and meet the Banking and Finance industry’s strict compliance.”
Digital Banking: The Way Forward
As a part of its Digital Banking Strategy, PVcomBank focuses on improving and developing the electronic payment segment by offering card products with numerous features and promotions tailored to the customers’ needs.
PVcomBank’s PV Mobile Banking feature has over 200 features to assist customers in performing all transactions on the “miniature bank that fits in your hand”. In an effort to meet its digital transformation with speed and agility, PVcomBank has chosen to test and apply the cloud and decided to go ahead with AWS Cloud.
The bank and technology experts from CMC Telecom, an AWS Advanced Consulting Partner in Vietnam, collaborated to deploy the ESB system running on the Redhat Openshift platform on the AWS Cloud.
CMC Telecom was previously a telecommunications infrastructure provider that specialised in providing services to large and demanding customers such as banks, financial institutions, insurance; leading corporations in retail, manufacturing, services, transportation, health, communication. This is a critical first step in laying the groundwork for PVcomBank’s major technology applications and projects in 2021 and the following years.
Recently, Vemanti Group, Inc. signed a Fintech and Banking-as-a-Service (BaaS) Memorandum of Understanding with PVcomBank.
“Today, with the benefits of cloud computing in general, most large organisations around the world have been bringing important applications such as ERP, ESB, or core applications to AWS. Large organizations, such as the government or the main financial sector, banking, or manufacturing… choose AWS because, in addition to being the world’s leading service provider, AWS has achieved a number of internationally recognized security standards and compliance certifications to help support customer compliance requirement,” said Le Anh Vu.
CMC Telecom is currently an AWS Advanced Consulting Partner in Vietnam, which has achieved the Advanced Consulting Partner status due to its strong preparation of technology resources with more than 200 Cloud experts, as well as the highest level of AWS certified capabilities, including the ability to provide high-end consulting and implementation services, as well as services to connect directly to AWS’s data centers with bandwidth up to 10Gbps, particularly the ability to operate hybrid cloud in conjunction with Amazon cloud and private cloud at CMC Telecom’s Tier 3 Data Centre.
Further, CMC Telecom has successfully deployed large AWS projects for clients such as Tan Hiep Phat, VTV, and Annalise.ai.
Trinh Vinh Hien, Deputy Director of PVcomBank’s Information Technology Division shared, “As one of the first banks to implement a comprehensive digital transformation programme and Open Banking, PVcomBank’s vision is to become a leading digital bank in terms of experience and performance of digital products and services. In this day and age of rapid change and distributed data, we see infrastructure automation (IaaS), cloud computing (Cloud Native), reliability, scalability, and infrastructure growth (SRE) as the fastest growing opportunities and long-term value chains for both PVcomBank and our customers.”
During the Covid-19 pandemic, PVcomBank’s digital transformation process is ongoing, which necessitated a refactoring of infrastructure resources to meet the increasing needs of customers from traditional distribution channels to digital channels.
This necessitated the promotion of plans to ensure the continuous and stable distribution of all products and services in PVcomBank’s vast digital ecosystem of customers and Open Banking partners. “One of these plans was to collaborate with partners such as CMC Telecom and Amazon to build a solid infrastructure foundation to modernize the business continuity model and provide flexible resource scalability during difficult times.” stated Trinh Vinh Hien.
PVcomBank will continue its digital transformation journey with breakthrough technologies such as AI & Machine Learning, Edge Computing, Advanced Cybersecurity to create smarter new products, respond to changing market needs, and provide new value to PVcomBank customers while focusing on the customer experience.
Trinh Vinh Hien said, “With the consolidation of Data Lake and AI, PVcomBank will be able to determine the best product suite and interest rate for each customer. And we believe that, when combined with advanced security solutions and a continuous risk assessment model, will best protect customer and partner data in the digital age.”
