Cloud banking platform provider Temenos has signed up Saigon-Hanoi Bank (SHB) for its digital banking platform, a move for the lender to meet the rising demand for electronic banking in Vietnam.
In a statement, Temenos said by using its platform SHB will be able to engage with its five million consumers in new ways while delivering consistent service across multiple channels. It will also open new technologies such as AI for personalisation and omnichannel experiences.
SHB is aiming to become to rank first in efficiency and technology among Vietnam’s commercial banks by 2025. The move by the lender followed the State Bank of Vietnam approving a national digital transformation plan for the banking industry in 2021, with a deadline of 2025 in mind.
Citing a McKinsey report, Temenos stated the adoption of digital banking in Vietnam has caught up to levels in developed markets, with 73% of Vietnamese consumers being multi-channel banking users.
Do Quang Vinh, deputy general director and director of SHB Digital Banking Division said: “With a modernised and secure system, we will be able to engage existing customers better and attract new customers through a digital banking experience that meets their current and future financial service needs.”
