Vietnam’s Tien Phong Commercial Joint Stock Bank has accelerated their digital transformation with Backbase, a digital-first banking platform, to transform the bank’s traditional products, services and core banking system.
Backbase drove the digitisation to enable TPBank to operate on a sustainable omnichannel digital platform that is scalable as the bank prepares for growth and expansion.
With Backbase’s solutions, TPBank has updated its mobile and Internet banking system.
Also, the introduction of comprehensive digital banking back-end services from Backbase has enabled TPBank to shorten the time taken to develop new products and accelerate time-to-market. Backbase’s ready-to-go banking with widget collections has also helped TPBank to customize their core-independent development, enabling digital innovation without the limitations from back-end systems.
Riddhi Dutta, Regional Head for ASEAN and India of Backbase, said,
“Legacy channels and outdated core systems are cumbersome and is one of the factors which hinders banks from scaling at a pace that keeps up with evolving customer demands. Without completely overhauling a bank’s core which it has built over decades, Backbase’s breadth of integration mechanisms can support incumbent banks to execute strategic digital transformation projects that are tailored uniquely for them.”
“Now more so than ever, banks need to respond swiftly to greater customer expectations while implementing digital transformation with minimal disruptions to remain competitive in the current marketplace by implementing more efficient business models and delivering superior value to its customers,” said Dutta.
Mr Nguyen Hung, CEO of TPBank said,
“Backbase’s global expertise and extensive range of solutions has allowed TPBank to successfully navigate our digital transformation road map and accelerate the development of our digital banking products services for the next 5 to 10 years. Our digital innovation journey that is being undertaken with Backbase has placed the people at the centre of our digital investment, with technology being the critical driver in transforming our bank and ensuring we stay ahead of the competition in the next digital banking revolution.”
