BPC Banking Technologies, the leading provider of Open System e-payment solutions for the global financial industry, announced today the completion of the first phase of a project to implement its award winning e-payments solution SmartVista in An Binh Bank (ABBANK), Vietnam.
During the project BPC integrated SmartVista into the Bank's infrastructure to create a complete e-payments processing platform. In only four months ABBANK was able to bring in-house all the functions necessary to support its card business. In the first phase, ABBANK successfully brought all local cards in-house as well as connecting to both the biggest payment schemes in Vietnam, BanknetVN, SmartLink. A further connection was made to another third party service provider VNPAY's, EVN network to support issuing and acquiring. SmartVista will also manage card production as well as running the Bank's ATM and POS networks. In three months time ABBANK plans to connect to Visa for issuing and acquiring VSDC cards.
Previously relying on an outsourced solution the Bank wished to take direct control over its payments business - a key strategic focus within its retail banking operation. ABBANK has an aggressive development strategy over the next four years during which it plans to increase its payments business by more than 400%. The Bank also plans to enter the international payments market through the issue of Visa, EMV chip cards. BPC will be supporting ABBANK's certification with Visa International.
SmartVista was selected after a competitive bid process including a number of other international software providers. BPC was able to meet the Bank's primary criteria of complete functionality and a commitment to meet demanding implementation time scales.
The migration of the Bank's card products to SmartVista has allowed it to increase significantly the efficiency and flexibility of its operations. Additionally the Bank now has a platform able to support its growth plans and benefit from speed to market for new products and payment solutions.
During the next phase BPC will be installing SmartGuard, its comprehensive fraud prevention solution and SmartLoyalty, the sophisticated loyalty application.
"The migration of our card business from an outsourced service to SmartVista is an important step in our development of new card products and services. We are now more independent and flexible in bringing new card programs to market and will enjoy additional competitive advantage in the retail financial services market", said Dr. Nguyen Thi Ngoc Mai, Deputy General Director, ABBANK. "BPC provided outstanding support during the implementation of SmartVista and we have been impressed by the Company's focus on delivering on time and on budget solutions"
"We are proud that SmartVista was chosen by ABBANK for its in-house processing centre. The Bank set the bar high in terms of its business needs and implementation deadlines and we have been happy to rise to the challenge" said Vasily Grigoriev, CEO, BPC Banking Technologies.
"ABBANK represents another win for us in Vietnam where we are enjoying a growing reputation and market share", said Rajan Narayan, MD APLAC, BPC Banking Technologies. "Our success in Vietnam has been built on world beating technology coupled with a strong focus on customer delivery and support".