TPBank, Backbase cooperate to accelerate digital transformation

Tien Phong Commercial Joint Stock Bank (TPBank) of Vietnam is working with Backbase, a digital banking software provider based in the Netherlands, to put forth the Vietnamese bank’s digital transformation process on a secure, efficient and sustainable digital platform.

The digital transformation has enhanced TPBank’s value proposition in delivering high quality and digital-first products and services to its customers and partners. With Backbase’s solutions, it takes TPBank only nine months to successfully revamp its mobile and internet banking system, which was in development from the past decade.

The introduction of comprehensive digital banking back-end services from Backbase has helped the Vietnamese bank shorten the time to develop new products and accelerate time to market, as the bank has to spend only 10 months to migrate nearly 3 million customers to the new platform.

Riddhi Dutta, Regional Head for ASEAN and India of Backbase, told the Vietnam News Agency’s correspondent in Singapore that banks need to develop and maintain outstanding digital experience so as to build good relations with customers while improving competitive capacity.

As for TPBank, besides good proportion of expenditure and return on investment (ROI), it needs a solution for development based on the customers’ digital demand, he said, adding with Digital Banking Services (DBS) and Widget Collection, Backbase has helped TPBank shortens time to develop its products.

TPBank CEO Nguyen Hung said that Backbase’s global expertise and extensive range of solutions has allowed TPBank to successfully navigate its digital transformation road map and accelerate the development of digital banking products and services in the next 5 to 10 years.

Source: Vietnam News Agency