Recently in Hanoi, the Vietnam Joint Stock Commercial Bank for Industry and Trade (Vietinbank) and PricewaterhouseCoopers Vietnam Co., Ltd (PwC) signed a contract and started the package “Consultancy and monitoring services for implementation of core banking (CBS) at Vietinbank.”
The “Replacement of Core Banking” project is a top project of the lender’s IT development strategy and is considered one of breakthroughs Vietinbank has chosen to ensure the good implementation of strategic objectives towards 2015. The new core banking solution, powered by strong administrative capacity, will create competitive advantage and flexibility for the lender’s business operations. The “Replacement of Core Banking” project was officially started on December 17, 2012.
Vietinbank opened the international tender package “Consultancy and monitoring services for implementation of core banking (CBS) at Vietinbank” in the fourth quarter of 2012 and the first quarter of 2013. The bidding brought deep interest from world-leading consultants. Vietinbank selected PwC Vietnam Co. Ltd to undertake the package.
Present at the signing ceremony, Ian S. Lydall, Chairman of PwC Vietnam, said, "I am honoured to be here today to witness the signing of the contract for 'Consultancy and Monitoring Services for the Implementation of VietinBank’s Core Banking Systems' between PwC Vietnam and VietinBank. PwC Vietnam will leverage its rich experience and expert resources to support VietinBank in implementing its Core Banking Solution. When this new Core Banking System is launched, widely thought to be one of the most integrated and efficient systems globally, we believe that VietinBank will realise significant competitive advantage in the challenging Vietnamese banking sector."
The cooperation between Vietinbank and PwC is expected to bring the best result to the “Replacement of Core Banking” project.
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