As part of its ongoing measures to strengthen the use of data analytics and AI in driving value, VPBank held a ceremony at its headquarters on June 5 to launch its new Enterprise Data and Analytics (EDA) Division.
VPBank's EDA Division was established from the restructuring of its Business Intelligence Competency Center (BICC) and the transfer of compliance reporting systems and data architecture from the IT Division. It will also have several new functions such as driving data strategy and innovation, data governance, and leveraging data science and machine learning.
The EDA division comprises six functions, namely Data Platform, Data Governance, Business Intelligence, AI, Data Strategy and Innovation as well as Data Ecosystem.
In 2013, VPBank sought to maximise the benefits that data brings to both the bank and its customers, and so, established the BICC that year as one of the first business analysis centres in Vietnam.
|The EDA Division will expand its oversight on data strategy, architecture and advanced analytics across VPBank's subsidiaries. |
Within two years, VPBank had been awarded the Best Enterprise Data Management Strategy by The Data Warehousing Institute for its clear vision and effective data management implementation roadmap.
Building on this premise, the EDA Division will focus on developing a next-generation enterprise data platform, expanding data governance, and promoting AI and machine learning while accelerating data cloud adoption.
The EDA Division will also expand its oversight on data strategy, architecture, and advanced analytics across VPBank's subsidiaries.
In terms of personnel, the EDA Division is to be led by Johnson Poh, chief data officer and Board of Management executive member, supported by all current personnel of BICC.
In his opening remarks at the ceremony, Johnson Poh said, "The EDA Division is charged with unifying the bank’s enterprise data strategy and reinforcing its endeavours in leveraging trusted data to drive business outcomes, underpinned by the key enablers of platform, people, process and products."
The new setup is expected to streamline operating procedures, enhance economies of scale, and facilitate a collaborative network across VPBank and its ecosystem.
The founding of the EDA Division is a big step in realising VPBank’s focus on enhancing customer engagement and administrative efficiency while minimising operational risks.
With a team of young, passionate and experienced staff, the new division will seek to maximise value from data to deliver better customer experiences and drive business growth, fuelling VPBank’s efforts in becoming one of the top three biggest banks in Vietnam and Top 100 biggest banks in Asia.
| ||VPBank provides effective support for FIEs |
In a fresh move, the innovative Hanoi-based commercial lender VPBank has reiterated its focus on promoting the foreign direct investment (FDI) landscape in Vietnam through a cooperative deal with its strategic partner, Sumitomo Mitsui Banking Corporation (SMBC), to develop and supply an inclusive suite of solutions to support foreign-invested enterprises (FIEs) landing ventures in Vietnam.
| ||Viettel implements Ericsson Expert Analytics to enhance customer experience |
On May 15, Ericsson announced the successful implementation of Ericsson Expert Analytics (EEA) on the Viettel network, which will allow the provider to improve the quality of its 4G service and drive the customer experience to an entirely new level.
| ||Retailers enter the AI game to improve customer services |
After fintech and technology, the retail sector is seemingly joining the race to utilise AI race after a number of businesses announced plans to develop and integrate this technology into their operating models.
| ||Maximising the benefits of EVFTA |
Entered into force in the context of the bilateral development of relations, the EU–Vietnam Free Trade Agreement has brought both positive impacts in many fields. Peter Bernhardt, Dr. Eduardo Austin and Prof. Dr. Konstantinos Athanasiadis of the ARISE+ Vietnam Project explain how Vietnam can face up to the challenges that the country’s private and public sector need to address in the years to come.