TPBank of Vietnam selects Diasoft to provide world class banking solutions

Wednesday, July 27, 2016

Diasoft, a leading provider of cutting-edge financial software solutions, announced today that it has signed an agreement with TPBank of Vietnam for implementation of its modern FLEXTERA Loan Origination and FLEXTERA Debt Collection systems.

The contract for the FLEXTERA Loan Origination and FLEXTERA Debt Collection systems was completed and signed recently in Hanoi by Mr. Pham Dong Anh, Deputy CEO of TPBank, Mr. Tran Le Quan, CEO of Fintek (Diasoft's partner in Vietnam) and Mr. Sergey Metelskiy, Head of International Sales at Diasoft.

TPBank (TienPhong Commercial Joint Stock Bank) is one of the leading commercial banks in Vietnam, with over 1,3 million customers and total assets of around 83,200 billion VND. TPBank aims to provide its Customers and Partners with best-in-class financial products and services based on advanced, modern and highly efficient technologies.

In order to automate various steps of loan processing, mainly for personal loans, and create a solid foundation for all of the bank's debt collection activities, TPBank has selected two signature modules of Diasoft`s FLEXTERA Financial Architecture: FLEXTERA Debt Collection and FLEXTERA Loan Origination.

FLEXTERA Debt Collection is an innovative solution that helps financial institutions to automate operations related to debt collection, including customer relationship management, interaction with third party collection agencies, segmentation of debts, allocation of human resources and control over collection activities and reporting.

FLEXTERA Loan Origination (LOS) manages the overall loan origination process from taking and processing of a loan application up to loan disbursement. The system supports a broad range of credit products such as consumer loans, car loans, mortgages, credit cards, loans.

Diasoft's solutions will enable the bank to increase efficiency and quality of its loan origination and debt collection processes. Implementing this project, TPBank expects to improve the overall level of customer services, increase labor productivity and reduce the cost of loan processing. Moreover, the Bank expects to improve efficiency of its operations through adoption of international standards in risk management and establishment of effective operational and credit risk management processes.

Among the key project goals are the following:

·         Implementation of the highly flexible Loan Origination and Debt Collection Systems, meeting all of the Bank's business requirements;

·         Implementation of the efficient tool for automated detection and scoring of risks;

·         Decrease of the overall turnaround time through reduction of repetitive operations (such as repeated input of the same data, double checks of the same risk parameters, etc.) and paper work.

During the Signing Ceremony, Mr. Pham Dong Anh, Deputy CEO of TPBank, commented, "With the rapidly increasing number of retail customers, the LOS project is the tool to help TPBank minimize manual and paper work that the credit department of the Bank has to do on a daily basis. Thereby, this project will help us improve efficiency of the loan process, accelerate loan disbursement, enhance customer experience and increase business performance of TPBank's Loan LOB".

Mr. Alexander Glazkov, Chairman and CEO of Diasoft, stressed out that Diasoft was delighted to become a provider of software services for TPBank, one of the most technologically advanced banks in Vietnam. He also underlined that this project plays an important role in the company's strategy within Vietnam.

"We are proud of being selected by one of the leading commercial banks in Vietnam," commented Sergey Metelskiy, Head of International Sales at Diasoft, "We at Diasoft are happy to provide TPBank with a transparent, secure, efficient and sustainable platform that will support the development strategy of the Bank and help it provide its Customers with modern technology-based financial products and services."

Tran Le Quan, CEO of Fintek, the company that provides consultancy services and deploys technologies at banks, expressed desire and enthusiasm to coordinate closely with TPBank to implement this project in order to achieve the highest efficiently result for it: “We hope to support TPBank in achieving the long-term strategic goals, bring the best service to get customer satisfaction”.

 About TPBank:

TienPhong Commercial Joint Stock Bank was established on 5 May 2008, TPBank inherits technological expertise and financial strength from its strategic shareholders including DOJI Gold and Gems Group, FPT Corporation, Vietnam National Reinsurance Corporation (Vinare) and SBI Ven Holding Pte. Ltd, Singapore.
Our mission is always offering customers most effective financial solutions and most beneficial banking products and services based on our advanced technological infrastructure and specialized management skills. With such efforts, TPBank has received valuable rewards such as Certificates of merit from the Prime Minister and Governor of the State Bank of Vietnam; “Most Innovative Digital Bank Vietnam 2014 and 2015 and "Best Retail Bank Vietnam 2015,2016"  from Global Financial Market Review; “Best Internet Banking Product 2016” by the Asian Bankers.
With its slogan “A deeper understanding”, TPBank aims to become Vietnam’s leading digital bank by differentiating its product and service quality through banking technology development.

About Diasoft: Since 1991 Diasoft has been providing cutting-edge financial software solutions supporting all aspects of retail, wholesale and universal banking, financial market services, and insurance business. The company’s main offering to the financial market is FLEXTERA — a SOA-based universal system comprising a comprehensive suite of modules for front-to-back automation of modern financial services.

FLEXTERA’s functional scope covers the following areas of financial business:

  • Back Office and Core Banking operations including daily processing of banking transactions; product and service management; BI, accounting and reporting;
  • Multichannel Front Office operations and customer management;
  • Middle Office risk management and decision making.

The modern technological principles lying at the core of all FLEXTERA solutions in combination with their broadest functionality provide our customers with limitless opportunities for their business development in accord with market trends and customer requirements.

About Fintek:

FINTEK is a leading Investment, Consulting & Technology Transfer firm established with founders and management team are experts with many years of experience in various fields: Finance, Banking, Microfinance, Risk Management, Payment Technology and Information Technology. The company is a recognized and respected advisory to many international corporations, leading financial organizations looking for both advisory as well as technology driven services. The company’s comprehensive services offering focuses on core business strategy, business operations, technology, regulatory compliance, strategic transformation and customer service.

Fintek’s functional scope covers the following areas:

-          Partner developing consulting;

-          Technology consulting service;

-          Technology solution provider;

-          Policy, process & Procedure Consulting and training.