One of the largest commercial banks in Vietnam with nearly 3.1 million retail and 64,300 corporate customers, Maritime Commercial Joint Stock Bank (MSB), will replace multiple homegrown and legacy systems with Temenos open platform for composable banking to transform the bank into an agile, future-ready bank. Vietnam has seen a higher increase in active digital bank users than other markets in APAC, and a large majority of 73% of Vietnamese consumers are multi-channel banking users. With Temenos core banking solutions for Retail and Corporate banking, including Analytics, Payments, and Data Lake capabilities, MSB can bring innovative new products to market much faster at a significantly lower cost. This will provide the bank a competitive edge to keep pace with the current and future banking needs of Vietnam’s largely young and increasingly affluent population.
“MSB aims to become a universal bank for the digital 4.0 era on a par with the best and biggest international banks. Revamping our technology infrastructure with Temenos open platform will accelerate digitization and increase automation. Such efforts will help to significantly reduce costs, improve customer experience and heighten the bank’s competitive advantage. This transformation with Temenos is already well underway, helping MSB meet ever-changing retail and corporate customer demands in a highly competitive market.”Mr. Nguyen Hoang Linh, CEO, MSB