VIB and Microsoft form strategic partnership to boost service speed and innovation

October 04, 2021 | 10:13
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Hanoi-based commercial lender Vietnam International Bank (VIB) and US-backed tech firm Microsoft Vietnam have just announced a 3-year strategic partnership to leverage Microsoft Azure as the preferred cloud platform to accelerate the pace of innovation and create valuable new services to meet the present and future banking needs of customers.
VIB and Microsoft form strategic partnership to boost service speed and innovation
Tran Nhat Minh, Deputy CEO cum CIO at VIB signing the agreement

Pioneering multi-cloud platform deployment

Multi-cloud computing refers to the use of multiple cloud computing services from more than one cloud provider in a heterogeneous environment. Multi-cloud strategy enables organisations to choose providers that offer innovations which perfectly meet their increasing workloads and specific requirements. Its proven flexibility will accelerate and spur innovation within any organisation.

The pandemic has completely transformed people’s way of living. Digital transformation is even more imperative now for financial institutions and multi-cloud investment is leading the trend, especially when it relates to security, user data sensitivity, and massive storage requirements.

It is important to choose a cloud platform that embraces a multi-cloud approach and offers product capabilities that help significantly simplify multi-cloud management. To realise this ambition, VIB has chosen Microsoft as a strategic partner and this partnership marks a major milestone for the bank in adopting and implementing a cloud approach and a profound digital transformation agenda.

“Cloud computing has become the trend of the world,” said Han Ngoc Vu, CEO of VIB. “For the banking industry, this is no longer a technological concept but actually a strategy that can help in improving customer experience, accelerating product development, enhancing security, optimising costs, and pioneering the application of new technologies into services. We believe that using cloud-based solutions is unavoidable going forward, and choosing Microsoft as the strategic partner for multi-cloud platform development is the smart move.”

The partnership with Microsoft was based on the benefits of Microsoft Azure with its ease of deployment, long-term scalability, and reliability.

Microsoft capabilities will empower VIB to architect a multi-cloud ecosystem using Microsoft Azure as the primary cloud for VIB applications while ensuring the same applications can move or run across a secondary cloud if necessary.

In the next three years, VIB will prioritise transferring and host its applications and business platforms to the cloud. During the process, VIB is simultaneously modernising and shifting the computing workload, including business applications and end-user computing needs to this new platform.

Within the framework of the agreement, the two parties will deploy important projects on cybersecurity, big data, AI, open API, the Internet of Things, and modern workplaces to achieve VIB's digital transformation targets.

In addition, Microsoft will provide training and certification for VIB employees to ensure that human resources are equipped with the best skills in using technology while implementing their tasks.

A foundation for breakthrough in service speed and innovation

VIB and Microsoft form strategic partnership to boost service speed and innovation
Phan Tu Quyen, Marketing and Operation lead, Microsoft Vietnam

VIB’s cloud migration strategy has started a long time ago with the preparation of the requisite technology and human resources. Since the beginning of this year, the bank has begun pioneering the use of cloud in some projects.

The partnership with Microsoft is the starting point for the two teams to work together to support VIB in achieving greater efficiencies, take advantage of the economies of scale, and enhance the resilience of its banking infrastructure.

The speed and scale of continuous innovation offered by Microsoft Azure will allow VIB to create a secure, high-speed, low-latency infrastructure while reducing the cost of integrating multi-clouds with its existing IT system while providing a better banking user experience.

With most of the world's data being created in recent years, multi-cloud scalability allows VIB to scale their infrastructure up or down, based on ongoing demand. With Microsoft’s solutions and technologies embracing the multi-cloud approach, VIB will be able to protect its critical business applications and data by utilising a comprehensive management suite, redundant backup and recovery capabilities that ensure business continuity when an emergency strikes, whether caused by a failed disk, power outage, or natural disaster.

“Cloud computing undoubtedly has been playing a pivotal role for financial institutions to gain the agility they need to accelerate innovation,” said Paulo Fernandes, Microsoft SMC Asia-Pacific lead and general manager of Microsoft Vietnam. “With Microsoft Azure as a powerful cloud enabler, I believe that VIB will be reaping great rewards by improving customer satisfaction and providing the next generation of banking experience.”

By Ha Thuy

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