ElectraCard Services (ECS), a leading provider of software solutions for electronic payment systems, today announced that its customer TienPhongBank, Vietnam has launched its electronic banking using ECS's Electra EFT Switch.
The Bank is leveraging Electra to drive its ATMs, authorize transactions on Proprietary Debit Cards and Interface to SmartLink.
The Electra Solution Suite supports a broad range of transactions, from debit and credit cards at the ATM / POS to advanced consumer banking features such as Internet based (e-commerce) transactions, Fraud Control System, Collection Management System and many more. TienPhongBank selected the Electra Solution Suite to support its immediate need of strengthening its ATM and Branch networks, enabling its transaction infrastructure for growth, and execute its long-term drive to transform its business using Electra EFT Switch Solution. The Bank today has connected seven ATMs. They are in addition connected to another 2000 ATMs by interfacing the Electra EFT Switch to the SmartLink network. This way the Bank had enhanced its network, and is able to offer to its cardholders a large number of ATMs throughout Vietnam.
Keeping in line with its growth plans, the Bank plans to deploy ECS powered Credit Card Services, EMV and other products, for which it has already signed-up with ECS.
Speaking on the selection of ECS, Dao Trong Khanh, CEO, TienPhongBank, said, "We believe, the Electra Suite of Solutions with its deep functionality combined with high flexibility and scalability offers us the right platform for now and the future. We're confident that with a high-profile experienced team coming from various international banks, we could utilize these global best practices to build up innovative products and value-added solutions for our customers."
"On behalf of TienPhongBank, Vietnam, we would like to congratulate team at Opus/ECS for the successful implementation of our EFT switch project. The project was well managed and monitored by the ECS team in an excellent manner to make go-live as per our expectations and scheduled date", said Luong Tran, Chief Information officer, TienPhongBank.
"We welcome TiienPhongBank, Vietnam to our list of leading financial institutions leveraging the comprehensive functionality of Electra suite of world-class payments software This is one of many implementations of the ECS, and is further testament to our proven experience and expertise in developing and delivering business-critical banking systems," said Ramesh Mengawade, CEO, ElectraCard Services.