PVcomBank - Digital Transformation Driving Remarkable Growth
With over 20 years of operation in the financial market and 8 years since the launch of its new brand, PVcomBank (Vietnam Public Joint Stock Commercial Bank) has expanded its network to over 100 transaction points across 28 provinces and cities in the North, Central, and South regions. With a team of over 4,000 staff members, PVcomBank has accumulated nearly VND 200 trillion in total assets.PVcomBank is at the forefront of applying digitalization to enhance the development of its products and services, aiming to improve customer experience and provide distinctive features in service usage. In recent times, PVcomBank has made significant strides in the digital banking sector, continuously upgrading its technological infrastructure, offering customers digitally-optimized financial products and services, and enhancing the overall customer experience with attractive incentives.
PVcomBank emphasizes the improvement and development of its electronic payment sector with integrated card products featuring multiple functions and suitable promotional programs tailored to customer needs. The bank has been recognized with awards such as the "Most Innovative Digital Bank 2020" and "Best Service Quality Bank in Vietnam 2021," along with several other international financial accolades, affirming its solid position in the Vietnamese financial landscape. The bank's digital strategy has contributed significantly to PVcomBank's robust development. PVcomBank has been recognized as one of the Top 500 Fastest Growing Companies in Vietnam 2021, further solidifying its position as a leading player in the dynamic Vietnamese market.
Choosing CMC Telecom – Partner for Data Migration
"In 2021, PVcomBank continued to implement outstanding digital transformation projects, emphasizing a strategic vision for its Information Technology system. In technology, speed is a crucial factor. Faced with the demand for digital transformation speed matching development pace and rapid growth, PVcomBank chose to experiment with applying cloud technology to this foundational journey. AWS Cloud proved to be the optimal solution. Alongside technology experts from CMC Telecom, a premium AWS partner in Vietnam, PVcomBank coordinated the deployment of the ESB system running on the Red Hat OpenShift platform on AWS Cloud. This is a significant step for PVcomBank's major technology applications and projects in 2021 and the coming years.
CMC Telecom provides AWS services for PVcomBank
CMC Telecom shared: "ESB is the most crucial integrated backbone system of the bank, and it has been deployed by CMC Telecom and AWS technology experts in collaboration with the client after numerous infrastructure capability tests and strict compliance assessments with financial and banking regulations."
PVcombank uses ESB – the integrated backbone system deployed by CMC Telecom and AWS
CMC Telecom, initially a telecommunications infrastructure provider specializing in services for large and demanding clients such as banks, financial organizations, insurance companies, and leading corporations in retail, manufacturing, services, transportation, healthcare, and communications, has transitioned to become a Converged Service Provider (CSP) since 2017. It focuses on providing digital transformation solutions for Vietnamese enterprises and multinational corporations with branches in Vietnam. With a telecommunications and data center infrastructure, CMC Telecom builds a digital conversion ecosystem for enterprises, particularly leading in cloud services.
CMC Telecom also shared: "Today, with the benefits of cloud computing in general, most large organizations worldwide have migrated critical applications such as ERP, ESB, or core applications to AWS. To explain why large organizations such as the Government or the financial sector, banks, or manufacturing industries choose AWS is because, in addition to being a leading global service provider, AWS also meets international security standards, fulfilling the strictest compliance requirements of each specific industry. Meanwhile, CMC Telecom is chosen by AWS as a partner because it has strong technological resources with over 200 cloud experts, and it possesses the highest level of AWS certification, including capabilities in providing premium consulting and deployment services, direct connection services to AWS data centers with bandwidth up to 10Gbps, and especially the ability to operate a hybrid cloud combining Amazon and private cloud according to CMC Telecom's Tier 3 standard."
Currently, CMC Telecom is an Advanced Consulting Partner of AWS in Vietnam with a team of technology experts holding high-level AWS certifications. Additionally, CMC Telecom has successfully deployed large AWS projects for clients such as Tan Hiep Phat, VTV, Annalise.AI. This is why PVcomBank chose and trusted the experience of CMC Telecom, as well as the services of AWS, in this groundbreaking infrastructure upgrade. Mr. Trinh Vinh Hien, Deputy Director of the IT Department at PVcomBank, shares: "As one of the first banks to implement a comprehensive digital transformation program and Open Banking, PVcomBank defines a long-term strategy to become a leading digital bank in terms of digital service product experience and performance. In an era of rapid change and distributed data, we recognize that automating infrastructure (IaaC), cloud computing (Cloud Native), reliability, scalability, and infrastructure development (SRE) are the fastest-growing opportunities and long-term value chains for both PVcomBank and our customers."
The digital transformation process requires a robust infrastructure platform. PVcomBank's ongoing digital transformation during the Covid-19 pandemic necessitates the essential calculation of infrastructure resources to meet the increasing demand for digital channel shifts from traditional distribution channels. This requires PVcomBank to advance plans to ensure the continuous and stable distribution of the entire service product within the extensive digital ecosystem of PVcomBank, including customers and open banking partners. "One of these plans is working with partners such as CMC Telecom and Amazon to build a robust infrastructure platform to continuously modernize our business model and provide flexible resource scalability during challenging times," Mr. Hien shared .
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Continuous Innovation
With the robust support of this infrastructure platform, PVcomBank will continue its digital transformation journey with breakthrough technologies such as artificial intelligence and machine learning (AI & Machine Learning), edge computing, and advanced cybersecurity to develop smarter products. These initiatives aim to meet the evolving market demands and bring new value to PVcomBank's customers, with a focus on enhancing the customer experience. Mr. Trinh Vinh Hien, Deputy Director of the Information Technology Department at PVcomBank, states: 'The integration of data (Data Lake) and AI will provide in-depth insights, enabling PVcomBank to determine suitable product bundles and interest rates for each customer. Alongside advanced security solutions and continuous risk assessment models, we believe that we will best protect customer data and partners in the digital era.