Vietnam’s Sacombank is leveraging Temenos Infinity in a bid to elevate its digital banking system and deliver a “seamless” omni-channel experience for its retail and business customers.
In line with its “customer-centric” business strategy and focus on delivering financial products and services to individual and corporate customers, especially small and medium-sized enterprises, Sacombank is looking to utilise Temenos Infinity in reimagining its customer engagement and meet growing demand for digital products and services as well as “fast, frictionless” customer experience.
“The omni-channel platform project is an unavoidable step to make a breakthrough in digital business of Sacombank,” said Bui Van Dung, deputy CEO of Sacombank.
“Sacombank believes that Temenos has the best reputation, capacity, and technology in omni-channel, along with a consultant team experienced in implementing similar projects at the leading banks, financial institutions in area and world-wide, hence, Temenos is able to support Sacombank in implementing its digital business strategy to comprehensively innovate in quality.”
The provider has promised a “comprehensive 360- degree” customer view for Sacombank to "acquire, service, retain and cross-sell" to customers, on multiple channels and devices using native features. Offering pre-composable banking services – built on microservices and accessible via APIs – the platform aims to help the bank to develop innovative products quickly and bring real benefits to consumers and businesses.
Additionally, Sacombank plans to introduce fully digital customer onboarding and origination as well as enhance the service experience for existing customers through digital channels.
The Temenos platform also seeks to enable the bank to connect with e-commerce providers, social networks, and other online services to accelerate a cashless ecosystem, which is a listed priority for the Vietnamese government.
A long-time Temenos customer, Sacombank will run Temenos Infinity on top of its existing Temenos Transact core, providing “complete front-to-back” banking capabilities on a single platform.
According to Temenos, Vietnam is leading the way in digital banking in Southeast Asia and its population is characterised by a relatively large younger demographic of digitally savvy consumers along with a vibrant local fintech and e-commerce industry. This has created the demand for “quick and easy” digital experiences in all types of services, including banking.
“Vietnam is a strategic market for Temenos. More than 20 Vietnamese banks run on our core banking technology, and we see growing adoption and interest for our Temenos Infinity digital banking platform,” added Craig Bennett, managing director of Asia Pacific at Temenos.
“As one of the biggest banks in Vietnam and the Southeast Asia region, we are hugely proud to extend our relationship with Sacombank. Adding Temenos Infinity to the bank’s technology stack will propel the bank forward, opening new opportunities and delivering outstanding customer experiences.”