VPBank in Vietnam has successfully migrated to the latest Temenos core banking system on Red Hat OpenShift, claiming to have completed the transition “in a single cutover window of less than 24 hours” with implementation partner Systems Limited.
VPBank, with approximately $41 billion in total assets, is a longstanding client of Temenos, and currently runs on the Temenos Transact (formerly T24) core banking system.
Temenos released the R25 AMR update for this core in April, featuring DLM performance enhancements, accounting interface improvements for cover and booking requests, and IRIS component optimisations.
Temenos says the upgrade, operating in a fully cloud-native environment, will enable VPBank to “bring new products to market faster”, assisted by enhanced integrations with external partners alongside improved performance tools.
The migration also includes automated workflows designed to help the bank reduce IT overheads and realise “significant cost efficiencies”, the vendor says.
Red Hat OpenShift is a cloud-based Kubernetes platform owned by IBM, to which VPBank has now transitioned more than 18 million customer accounts, including “millions of loan records, serving a customer base of over 17 million”, Temenos says.
VPBank previously launched Yolo, a digital banking proposition targeting Gen Z and Millennial users, in 2018 using SAP’s Omnichannel Digital Platform on Amazon Web Services (AWS). More recent technology initiatives include the separation of the bank’s treasury function using Finastra’s Fusion Kondor and Fusion Risk solutions in 2020.
Source: https://www.fintechfutures.com/
