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New Generation Core Banking System For Sustained Growth

New Generation Core Banking System For Sustained Growth. A Solution with Temenos T24. Nguyễn Hướng Minh Deputy Director Center for Technology based Product Development and Application Techcombank. Scenarios. Vietnam economy continues to have high rate of growth

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New Generation Core Banking System For Sustained Growth

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  1. New Generation Core Banking System For Sustained Growth A Solution with Temenos T24 Nguyễn Hướng Minh Deputy Director Center for Technology based Product Development and Application Techcombank

  2. Scenarios • Vietnam economy continues to have high rate of growth • increasing consumer income and spends • Booming Banking Services • Consumers have become more demanding, sophisticated and less loyal • Way given to multilateral arrangements between bank, customers, distributors and other parties • Banks being forced to share more revenue with third party distributors • Increasing regulatory and compliance requirements by the State Bank (SBV)

  3. Banks Towards Customer Centric • Most retail Banks whilst claiming to be customer oriented continue to structurally operate in product centric model • This structure constrains Bank’s to view Customer relationships panoramically, resulting in fragmentation of Customer relationships • Inability to provide consistent customer experience and inability to meet increasing aspirational needs of customers

  4. Implications for Business • New Business Models, delivery channels and newer services are pushing Banks operating on legacy systems to upgrade /replace their Core Banking Systems • The Alternatives to this are • Inability to respond rapidly to changes in market place • Higher Costs of operations resulting in being priced out of market and hence diminishing market share

  5. Weave Business and IT Strategies Together IT strategies flow from bank strategic intent

  6. Align Core System Strategies to Business Imperatives Sample Business Needs • Develop new products quickly and reduce time to market • Enhance customer satisfaction by enabling 24*7 banking • Improved servicing for customer transactions • Reduce costs and drive economies of scale through shared best practice Sample IT Implications • Systems must be flexible to provide for parameterization by which new products /services can be added without major modifications • Providerange of offering on alternate channels –Internet , ATM’s , mobile banking etc • On Line STP with automated exception handling • Robustand scalable systems enabling huge amounts of transaction processing

  7. Customer Centric Operating Model

  8. Approach to Core Banking System Upgrade • Use the opportunity to transform the Business rather than just replicate legacy • A Core Banking Project is a Business Project which is enterprise wide with Technology being an enabler to help Business achieve the benefits it seeks • Do not attempt to build a core banking system !!!

  9. Selection Evaluation Criteria • Vendor / Partner track record and expertise • Technology Platform • Open Architecture • Integration flexibility with in house and third party • Scalability and future proof • Application security • Functionality “fit “/richness

  10. Number of Clients Temenos – A Company Profile 500+institutions, 600+live locations

  11. TemenosVendor being a solution partner Providers • Reactive • Task orientation • Short term Partners • Proactive • Solution orientation • Long term

  12. T24 Core Banking System • Open Standards • Openplatform • Open database • Open J2EE application server • Integrated • Customer relationship management (CRM) • Centralized common processes • Consolidated Global Customer View (Know Your Customer) • Centralized Risk Management • Parameter Driven • User Customizable - Independent of supplier • Rapid time to market • “Bestof Breed” Practices • Decades of banking experience backing core applications & processes • Mission critical • 24 * 7 * 365 • No End of Day Batch processing • Investment protection • Development philosophy - upgrade policy • Long term strategy

  13. TEMENOS T24 as Enabler of Growth and Efficiency Customer Customer choice and retention Elimination of batch Business agility Efficient business pipeline management TEMENOS VALUE PROPOSITION Operational excellence Systems consolidation and standardisation Reduction of risk & reg. compliance Reduction of cost of HW infrastructure Operations IT Business

  14. Techcombank Upgrades to T24R5 Project Milestones • Undertaken in October 2005 • Non stop capabilities & Multi –Server modules achieved • Project completed in 8 weeks

  15. Techcombank “before” and “after” T24 Upgrade Before • Single Server Architecture • End of Day Batch Window • Performance Limits Reached • Multi-company • LD/ PD After • Multi-server Architecture • Non-stop Processing • ImprovedPerformance Enabling Growth • Multi- book • AZ

  16. T24 Upgrade - Benefits derived  for Techcombank • Increased ROIs • Develop new products and services at ease • Enable bank to concentrate on ideas and marketing while T24 take care of the rest. • Reducing Costs • Improved efficiency in real-time processing results in lower costs • Manual processes and paper flows are reduced by increasing computerized information • Improving Productivity • All modules are integrated • Front, middle and back office operations are fully supported • Timely information are provided

  17. Thank you!

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