Vietnam’s Lien Viet Post Joint Stock Commercial Bank (LPBank) has selected banking software company Temenos to modernise its core banking platform for retail and corporate banking.

The new system will enable LPBank to manage customer accounts and transactions across its retail and corporate activities with improved performance and efficiency, and offer personalised products, faster and at a lower cost.

The retail and corporate core banking solution for LPBank includes banking capabilities for lending and deposits, trade finance, foreign exchange, payments, data and virtual accounts.

LPBank will also benefit from Temenos’ Vietnam Country Model Bank, which is pre-configured with banking capabilities tailored to the local market.

This latest signing further strengthens Temenos’ presence in Vietnam, with LPBank joining 24 major Vietnamese banks such as MB, MSB, Sacombank, VPBank and Techcombank.

Ho Nam Tien

Ho Nam Tien

Ho Nam Tien, Vice Chair and General Director, LPBank said,

“Leveraging Temenos’ market-leading platform, used by major banks around the world, will help LPBank develop rapidly and realise our goal of becoming the leading retail bank in Vietnam – everyone’s bank.

The new system also creates a more integrated, seamless customer experience journey, fully digitised from the beginning to the end of transaction channels, while also aiding employees to deliver a world-class service.”

Ramki Ramakrishnan

Ramki Ramakrishnan

Ramki Ramakrishnan, Managing Director – Asia Pacific, Temenos said,

“We are delighted to welcome LPBank as our latest customer in Vietnam, cementing our market-leading position in this important market.

The move to Temenos will help LPBank to quickly adapt their product offerings to meet consumer demands and remain ahead of the competition in the ever-evolving banking landscape.”