HDBank and Thought Machine to strengthen digitalisation in finance and banking

February 28, 2022 | 19:33
On February 25, within the official visit of President Nguyen Xuan Phuc to Singapore, HDBank has signed a cooperation agreement with Thought Machine – the core banking solution provider to first-tier banks in the world.
HDBank and Thought Machine to strengthen digitalisation in finance and banking
HDBank has signed a cooperation agreement with Thought Machine – the core banking solution provider to first-tier banks in the world

In Vietnam, HDBank will cooperate with Thought Machine to implement the latest version of the world-leading core banking system to replace the current solution and build new standards for the future.

Accordingly, HDBank and Thought Machine have engaged in developing and deploying technology solutions on Amazon Web Services for financial services in Vietnam. Thought Machine will provide innovative systems for HDBank to assist the bank in access to modern tech platforms and apply core banking technology using a microservice architecture based on the cloud-based system.

From there, HDBank shall integrate with strong confidence into the digitalisation trend, thereby providing the best financial and banking products and services to all customers in the shortest of time and with unique customisation.

Two years ago, HDBank was the first Vietnamese bank participating in Contour, a global network established on the blockchain, marking a dynamic step for the strong digital transformation of Vietnamese banks.

As a financial institution that has actively promoted digital transformation in businesses and operations, HDBank has accelerated the implementation of key projects over the last few years, bringing good experiences and great comfort to customers.

In its growth strategy for the next five years, HDBank keeps on expanding its scale to increase the number of digital clients and level of digitalisation, aiming to increase the rate of digital transactions to more than 90 per cent by 2025 and become a modern digital bank growing for the happiness of every client.

Thought Machine is the only core banking service provider which supports world-class, first-tier banks. JPMorgan Chase, Lloyds Banking Group, Intesa Sanpaolo, and Standard Chartered, as well as many other banks around the world, have chosen Thought Machine to help improve their banking capacity. The company has raised more than $340 million in funding, at a billion-dollar-plus valuation, and has headquarters in London, with regional offices in New York, Singapore, and Sydney.

HDBank is one of the leading commercial banks in Vietnam. After 32 years of operations, HDBank has now 320 transaction offices and nearly 21,000 financial points of sales across the country which serve millions of customers with diverse products and services, including outstanding digital solutions.

By Mai Dang

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