Vietnam’s LPBank selects Temenos for core banking upgrade
Lien Viet Post Joint Stock Commercial Bank (LPBank), one of Vietnam’s top private commercial banks, has tapped Temenos for a core banking upgrade as it looks to modernise its retail and corporate banking services.
LPBank taps Temenos for core banking upgrade
Temenos’ core platform will provide LPBank with new capabilities for lending and deposits, payments, foreign exchange, trade finance, data and virtual accounts. The vendor says it will also support process automation, which in turn will help the bank reduce operational errors and improve risk management efficiency.
LPBank hopes the modernisation will help it manage customer accounts and transactions with “improved performance and efficiency”, as well as offer customised products to its customers at speed and at reduced cost.
The bank will also leverage Temenos’ “Vietnam Country Model Bank” solution to offer products and services that are “tailored to the local market”.
Ho Nam Tien, vice chair and general director of LPBank, says the new core banking system creates a “more integrated” customer experience journey that is “fully digitised from the beginning to the end of transaction channels”.
Temenos has been gaining a foothold in Vietnam, with 24 other Vietnamese banks now running on the firm’s platform, including Sacombank, Saigon-Hanoi Bank and Techcombank.
