Oracle Financial Services Software today announced that a growing number of banks in Vietnam are turning to Oracle FLEXCUBE Core Banking.
More than 15 customers in Vietnam, including banks such as Dong A Bank, Habu Bank, Ocean Bank, Nam A Bank, Vietnam Russia Bank and Tien Phong Bank, have selected Oracle FLEXCUBE to transform the way they do business and to help achieve operational excellence.
With Oracle FLEXCUBE, these banks will benefit from the industry's most advanced and flexible platform for transforming core banking processes, as well as comprehensive localization of the product for Vietnamese banking requirements.
As a result, these banks have achieved faster implementation timeframes, standardized according to common business needs of Vietnamese banks, and are now in position to leapfrog into the next generation of banking technology to maximize the country's rapidly growing economy and banking sector.
Vietnam Asia Commercial Bank
Vietnam Asia Commercial (VietA) Bank, a rapidly growing mid-sized Bank based out of Ho Chi Minh City with 15 main branches and 47 sub-branches, is migrating from a local solution to Oracle FLEXCUBE to cover all of its operations.
VietA Bank operates as a 'Universal Bank,' offering a range of retail, corporate, trade and treasury products to its customers.
VietA Bank has grown at a CAGR of 100% in the last three years and has set additional ambitious targets to strengthen and expand its operations, plan for continued growth of its branch network, and acquire customers through differentiated, diversified products and services.