OCB is pursuing an aggressive growth strategy in the Vietnamese retail banking sector, with plans to increase its branches to 135 and service over a million accounts in the next four years. T24 will provide a single, flexible platform to deliver greater transparency of management data for more informed decision making to improve customer service, monitor performance and manage risk. And, integrating its operations will immediately drive down maintenance costs for the bank.

Mr. Tran Van Vinh, CEO, OCB, comments: "International players are raising the stakes in the Vietnamese banking sector by changing customer expectations. With over 40 banks in operation, competition is extremely intense and we needed the best possible technology in order to compete. Temenos was the obvious choice to provide a core banking platform with the pre-configured international best practice processes that we required. It holds an excellent reputation in Vietnam in terms of both product and local support capability, which were key factors in our search for the right supplier".

Over the last seven years, Temenos has developed a strong and loyal client base and has invested in building its regional support capabilities, with a dedicated office in Hanoi. Temenos' Vietnamese client list includes Techcombank and Sacombank, both long standing T24 users. Over the past three years, Vietnamese banks that run on Temenos have grown market share by more than 7 percentage points and for the last five years have increased operating profit by a CAGR (compound average growth rate) of 79%.*

Techcombank, the third largest private commercial bank in Vietnam, has increased its use of T24 since implementing the software in 2003 to take advantage of new functionality, such as ARC CRM. Year on year, T24 has supported its rapid growth from 13 to 170 branches and helped the bank generate a 225% profit increase last year. Sacombank, a leading premier bank in Vietnam, has also extended its relationship with Temenos since signing in 2004 in support of its international growth strategy.

"Our mission is to become the largest private commercial bank in Vietnam and maintain our position as a leading bank in technological innovation. T24 has transformed the way we do business and set us in good stead to achieve our 2009 growth plans. We have significantly improved and extended our internet banking services and as a result are on target to increase our online client base by 50% this year. T24's regular upgrade path has delivered continuous support for our product strategy, allowing us to rapidly roll out new lines including regular savings accounts and visa cards. This will help meet our objective to grow our retail customer base to one million by the end of 2009", comments Mr Minh, IT Vice Director, Techcombank.

Mr. Dang Van Thanh, Chairman of Sacombank says: "To achieve our global growth target we need efficient product and service diversification and systems centralisation at a reduced cost of ownership. To date T24 has provided us with improved operational efficiencies, reinforcing our reputation as Vietnam's premier bank and we extended our partnership in full confidence that T24 shall help us drive our business forward globally".

Chris Longden, Regional Director, APAC, Temenos comments: "Temenos' pre-configured T24 Model Bank product continues to appeal to a wide range of banks as it reduces implementation time and supports fast go to market strategies, as well as offering full support to those with international operations. Our significant growth in Vietnam underscores our strategy to gain strong market share across Asia Pacific and become the core banking systems vendor of choice throughout the region".

* Reuters; Banker Database; Company accounts; Temenos client register