Temenos powers Vietnam s banking shift from core systems to AI
Over more than two decades Temenos has accompanied the banking sector from the digitisation of basic transactions and the modernisation of core banking systems to the development of cloud based banking platforms data driven operations and AI applications
Temenos, a leading banking technology firm, has facilitated Vietnam's banking sector shift from core systems to AI. This transformation is exemplified by Sacombank, which upgraded its core banking system to Temenos Core Banking platform and adopted a hybrid cloud architecture. Sacombank's deputy CEO, Luu Danh Duc, highlighted that the upgrade enhanced flexibility, scalability, and innovation.
The results of the upgrade are evident, with a 200% increase in application performance, three times faster deployment cycles, and a 50% reduction in server infrastructure capacity. Sacombank's platform now supports millions of customers and approximately 13 million transactions daily, paving the way for the development of real-time banking services and data-driven solutions.
The bank's transformation extends beyond core banking, with its collaboration with Temenos through Temenos Payments Hub to support cross-border payments. Temenos CEO, Takis Spiliopoulos, noted that banks in Vietnam are increasingly modernizing their technology infrastructure while ensuring operational continuity, security, and regulatory compliance.
Temenos promotes "progressive modernization," enabling banks to transform specific business lines, products, or geographic areas before expanding to other parts of the organization. Cloud computing is seen as a crucial driver of digital transformation, with banks in Vietnam moving workloads from on-premises infrastructure to cloud environments for greater scalability and flexibility.
While AI presents significant growth opportunities, Temenos emphasizes the importance of cautious adoption, focusing on areas where AI can generate meaningful value. The company's local presence and ability to adapt its technology to specific market requirements have enabled it to maintain a strong position in Vietnam's banking sector.
Written by urgent.news from Vietnam Investment Review's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
