On November 28th, 2022, Cooperative Bank of Vietnam (Co-opBank) officially implemented the capital management, funds transfer and capital trading system (TiMS). This system is to digitalize professional processes and ensure the accuracy and convenience of the operation of capital management, funds transfer and capital trading at Co-opBank.
TiMS system includes modules such as: Project capital management; Ordinary capital management, Funds transfer, Receiving branches’’ deposit; Currency market management; Derivatives management; Investment capital management; Reporting system… and is automatically integrated with CoreBanking system and CF-eBank Payment system.
The TiMS system, after being deployed, will bring a number of benefits to Co-opBank such as: Accessing and managing the funds transfer process systematically and efficiently through operational process improvement; Improving service quality, timely meeting Co-opBank’s requirement of business growth needs. Solving the limitations of current management operation such as: automating manual tasks such as interest calculation, fee calculation, accounting; Reducing processing time for internal funds transfer process; Reducing processing time for capital trading creation and approval; Reducing the volume of manual paper documents in the process of creating and approving capital management operations by digitizing these documents.
In addition, the TiMS system is developed on the basis of modern technology and integrated with CoreBanking and CF-eBank systems for user’s convenience such as: The attractive graphical interface, friendly and easy to use; Classify users, create and approve transactions; Centralized transaction warehouse to facilitate information for different purposes; Setting up quickly new products and services to meet the market changes and Co-opBank’s requirements; Transaction sflow thoroughly from TiMS <-> CoreBanking <-> CF-eBank systems, which helps users to avoid having to manually enter data multiple times.
Modernizing professional operation and improving service quality are common trends of banks today to enhance competitiveness and reputation. In particular, the digitalization of capital management is the next step in the digital transformation at Co-opBank.
