Intellect Global Transaction Banking (iGTB), the transaction banking firm from Intellect Design Arena Limited, has announced that Hanoi-headquartered VPBank has signed a major transformative deal to digitize and streamline its transaction banking offerings. For Intellect, this deal marks the tenth key digital banking transformation deal in Vietnam.
This digital transformation deal will boost VPBank’s digitization efforts of its transaction banking function which in turn will enhance the country’s digital economy which is aligned with the “Vietnam National Digital Transformation Roadmap 2025”. This will bring the bank closer to the goal of being the most customer-friendly bank through technology in 2022 with disruptive iGTB’s products and services for its corporate, commercial and SME clients.
According to Nguyen Duc Vinh, CEO, VPBank, “VPBank has always been a pioneer in selecting the most up-to-date technology to power accelerated digital transformation. Strengthening our IT Infrastructure to enable and automate digital strategy is our key to improving productivity by 30 per cent in order that stay ahead of the competition. This is why harnessing disruptive digital IT initiatives is currently a major priority for us. Partnering with iGTB, VPBank will continue to improve customer experience and expand the business ecosystem through a new and efficient digital technology, which will transform our cash management. Armed with this iGTB and VPBank solution, we are set to increase significantly the competitive edge for the bank and retain our leadership position as the preferred bank of choice for both SME and for corporate customers.”
Manish Maakan, CEO, iGTB said, “I am proud that this latest VPBank deal transformation deepens Intellect’s portfolio to a dominant position in Vietnam. Our investments into iGTB Cash Cloud and iColumbus.ai platforms are the keys to a faster go-to-market, so that our client portfolios across APAC, Middle East, Europe and Americas can realize early returns on their technology investments. Our simultaneous market-depth strategy is a result of years of investment into local Vietnamese regulations & payment systems, backed by iGTB’s local relationship managers and delivery teams out of Hanoi, and our longstanding partnership with Vietnamese FPT Information Services.”
Maakan added, “Vietnam’s corporates and SMEs are demanding digital financial solutions, and the Vietnam banking industry is rising to the challenge powered by iGTB’s latest digital banking platforms. This partnership powered by iGTB’s global expertise in transaction banking technology will help VPBank achieve its goal of becoming the most customer-friendly technology-driven bank and the most valuable bank in Vietnam.”