HANOI, Vietnam, Aug. 9, 2021 /PRNewswire/ — In July 2021, PVcomBank and CMC Telecom’s technology experts successfully deployed the OpenShift-based service integration backbone (ESB) on the AWS cloud. This represents a significant step forward for PVcomBank’s digital transformation technology projects in 2021 and the future.
PVcomBank – Digital transformation results in exceptional growth
Vietnam Public Joint-stock Commercial Bank (PVcomBank) was established on September 16, 2013 by the State Bank of Vietnam based on the unification between PetroVietnam Finance Corporation (PVFC) and Western Commercial Joint Stock Bank (WesternBank). Until now, PVcomBank has built a network of more than 110 transaction points in 28 provinces and cities spanning the North, Central, and South, with a staff of over 4000 people and total assets of nearly 200,000 billion VND.
PVcomBank is one of the leading banks in the use of digitization to promote the development of products and services, with the goal of improving the customer experience and giving customers different impressions when using services. In recent years, PVcomBank has made significant progress in the digital banking segment, bringing superior digital financial products and services to customers while also enhancing their experience with thousands of appealing offers. 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 has received numerous awards from prestigious international financial institutions, including “Most Innovative Digital Bank – Vietnam, 2020“, “Best Bank for Customer Services in Vietnam for 2021“.
The Digital Banking Strategy has contributed to the strong development of PVcomBank in recent years. PVcomBank’s PV Mobile Banking feature alone has over 200 features to assist customers in performing all transactions on the “miniature bank that fits in your hand“. PVcomBank was named one of the Top 500 Fastest Growing Enterprises Unveiled in Vietnam 2021.
Choose CMC Telecom, an AWS Advanced Consulting Partner, for “cloud migration.”
The year 2021 marks the continuation of PVcomBank’s visionary IT system’s outstanding and fundamental digital transformation projects. In technology, speed is key. PVcomBank has chosen to test and apply the cloud in this fundamental journey in response to the requirement of digital transformation speed to meet the rapid development and growth rate. And the most responsive and optimal solution is AWS Cloud. PVcomBank 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. This is a critical first step in laying the groundwork for PVcomBank’s major technology applications and projects in 2021 and the following years.
PVcomBank has chosen CMC Telecom to provide Cloud Computing services powered by AWS
Mr. 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.”
CMC Telecom was previously a telecommunications infrastructure provider that specialized in providing services to large and demanding customers such as banks, financial institutions, insurance; leading corporations in retail, manufacturing, services, transportation, health, communication… Since 2017, CMC Telecom has been aiming to become a CSP, a digital convergence service provider (Converged Service Provider) that specializes in providing digital transformation solutions to Vietnamese businesses and multinational corporations with branches in Vietnam. With the foundation of telecommunications infrastructure and Data Center, CMC Telecom creates a digital transformation ecosystem for businesses, with a focus on cloud services.
Mr. Le Anh Vu shared: “Today, with the benefits of cloud computing in general, most large organizations 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.. . Meanwhile, CMC Telecom 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 Center.”
CMC Telecom is currently an AWS Advanced Consulting Partner in Vietnam, with a team of technology experts who hold all of AWS’s advanced certifications. Furthermore, CMC Telecom has successfully deployed large AWS projects for clients such as Tan Hiep Phat, VTV, and Annalise.ai … That is why PVcomBank chose and relied on the knowledge and experience of CMC Telecom and AWS.Annalise
Mr. Trinh Vinh Hien, Deputy Director of PVcomBank’s Information Technology Division shared: “As one of the first banks to implement a comprehensive digital transformation program 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.”
The digital transformation process requires a solid infrastructure foundation
During the Covid-19 pandemic, PVcomBank’s digital transformation process is ongoing, necessitating the urgent calculation of infrastructure resources to meet the increasing needs of customers from traditional distribution channels to digital channels. This necessitates 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.” shared Mr. Trinh Vinh Hien.
Constant innovation
Thanks to the strong support of this infrastructure platform, 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.
Mr. 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.”