On December 21, 2021, the E-banking project – an IT component under the STEP project was officially kicked off at Co-opBank. The STEP project which stands for “Strengthening the People’s Credit Fund” is a project funded by the Global Affairs of Canada (GAC) and jointly implemented by Co-opBank and Développement international Desjardins (DID). After over a year of project preparation, TechPlus Solution Ltd has been selected to implement this component.
Participants in the E-Banking launching event included Mr. Brian Allemekinders – Development Counselor – Canada’s Embassy/Chairman of STEP’s Project Steering Committee (PSC); representatives from Bureau III- Banking Supervision Agency, and IT department (the State Bank of Vietnam); Mr. Claude Lafond- STEP’s Field Director and project officers, Mr. Kieu Viet Hung- Chairman of TechPlus Solution Ltd and Ms. Nguyen Thi Kim Thanh- Deputy Secretary of the Vietnam Association of People’s Credit Fund (VAPCF).
Co-opBank’s leaders included Mr. Nguyen Quoc Cuong- Chairman, Mr. Nguyen Minh Tuan- Deputy Executive CEO/STEP PSC Co-chairman, Mr. Nguyen Thac Tam- Deputy CEO and STEP Co-director, Ms. Vu Thanh Hang- BoD member and STEP PSC member; and other members of the BoD, BoM, Chief Supervisor, Chief Accountant and other related departments at Co-opBank’s headoffice.
Opening the E-Banking launching ceremony, Co-opBank’s Chairman Nguyen Quoc Cuong thanked GAC and DID for their efforts in supporting Co-opBank and the PCFs network over years of establishment and development. He also highlighted the important role that the STEP project has played during that process. Speaking of the significance of a digital and IT transformation at Co-opBank and PCFs, Chairman Nguyen Quoc Cuong emphasized that following the Prime Minister’s Master Plan and Decision 810 by the SBV’s Governor, digital transformation in the financial and banking sector is vital and inevitable and it would undoubtedly be a fierce race between financial institutions, especially during the Covid 19 pandemic which has made customers lean towards e-transactions over direct interaction. As the apex institution of the network with almost 1,200 PCFs, Co-opBank is aware that digital transformation has become an urgent task and it will therefore utilize its best resources for that process, with the ultimate goal of being able to support PCFs in providing more affordable products and services to the their members.
Mr. Brian Allemekinders Development Counselor – Canada’s Embassy/Chairman of STEP’s Project Steering Committee (PSC) expressed his appreciation for the strong commitment and efforts of the concerned parties, hoping that the system will soon be completed to extend more well designed and effective financial services at reasonable costs to the rural disadvantaged people who has been severely affected the pandemic over the last 2 years. Mr. Allemekinders hoped that all PCFs would soon benefit from the project and confirmed the GAC’s full support for the E-banking component as well as the STEP project.
According to Mr. Claude Lafond- STEP’s Field Director, E-banking will be a great step forward for both Co-opBank and the PCFs as their current systems such as Core-banking, mobile/internet Banking, card etc. to will be integrated into a structured and secured platform. It will be a prerequisite for Co-opBank and PCFs to meet members increasing demand, as well as enhance the retail financial services in agriculture, rural and remote area.
Presenting on the E-banking’s development, Mr. Kieu Viet Hung- Chairman of TechPlus Solution Ltd shared that a Enterprise Service Bus (ESB) would be designed to be a platform which could in turn allow more modern banking services to be developed. It would enable more secure and efficient payment and 24/7 money transfer transactions between Co-opBank and PCFs with external partners such as NAPAS, CITAD, BIDV and other Fintech and mobile money providers. These value-added services will enrich customers’ experience and diversify the customers’ ecosystem.
During the launching event, the E-banking contracts were officially exchanged between Mr. Claude Lafond- STEP’s Field Director and Ms. Huynh Hong Ngoc- CEO of TechPlus Solution Ltd. The E-banking project is expected to be completed by the end of 2022.
Co-opBank’s Chairman Nguyen Quoc Cuong gives an opening remarks to the E-banking launching ceremony.
Mr. Brian Allemekinders Development Counselor – Canada’s Embassy/Chairman of STEP’s Project Steering Committee (PSC) speaks at the event.
The E-banking contracts were officially exchanged between STEP and TechPlus Solution Ltd.
The ceremony at a glance.
