Saigonbank implements SunGard Ambit backbone

Source: SunGard

Saigon Bank for Industry and Trade (Saigonbank), the first and one of the largest joint-stock banks in Vietnam, has selected SunGard's Ambit Online Banking, part of the Ambit Enterprise Banking Suite of solutions (Ambit EBS), to support the provision of high quality, modern technology to its commercial and retail banking clients.

Saigonbank has recently successfully deployed SunGard's Ambit Core Banking solution as the backbone to support its entire banking business. The addition of Ambit Online Banking will further support the bank's plans for domestic and international growth by helping it to offer clients a range of new online retail banking services such as account inquiry, funds transfers, bill payment, checkbook request and stop payment orders.

Saigonbank was formed in 1987. It has already experienced considerable growth by expanding its operational network to all the provinces in Vietnam and by focusing on supplying new services and products to its retail and small business clients. The bank has placed a special focus on improving its clients' banking experience and supporting Vietnam's growth in agriculture, forestry, handicraft and other local traditional industries. With increasing foreign competition, Saigonbank decided that by diversifying into more channels, it would be able to improve its client service and continue to support its growth initiatives.

Tran Thi Viet Anh, director general of Saigonbank, commented: "As a result of the implementation of SunGard's Ambit Core Banking solution, Saigonbank experienced both performance and efficiency improvements. After evaluating a number of leading providers for online banking, we felt that SunGard's demonstrated success with our core banking solution and its single, customer-centric platform would offer the best value to the bank and its customers."

David Hamilton, president of SunGard's banks business, commented: "Ambit EBS is a componentized solution that is able to consolidate retail banking operations across channels and provide a 360º view of a client's relationship with the bank. Given the growth in the Vietnam economy, Saigonbank has a substantial market opportunity that is complicated by new foreign banking service providers now entering the country. By continuously striving to offer high quality products and services and adopting technologies to support these offerings, the bank is well positioned to retain its existing clients and grow its business with new clients."

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