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Wednesday, October 20, 2021

VIB and Microsoft form strategic partnership to boost service speed and innovation

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The Vietnam International Bank (VIB) and Microsoft Vietnam announced a three-year strategic partnership to leverage Microsoft Azure as a preferred cloud platform to accelerate the pace of innovation and create valuable new services to meet present and future banking needs of customers.

Pioneer in deploying the multi-cloud platform

Multi-cloud computing refers to the use of multiple cloud computing services from more than one cloud provider in a heterogeneous environment. Multi-cloud strategy enables organizations to choose providers that offer innovations which perfectly meet their increasing workloads and specific requirements. Its apparent proven-record flexibility will accelerate and spur innovation within any organization.

The pandemic has completely transformed our way of living. The need for financial institutions to digitally transform is now even more imperative and multi-cloud investment is leading the trend, especially when it relates to the security, user data sensitivity, and massive storage requirements.

It is important to choose a cloud platform that embraces a multi-cloud approach and offers product capabilities that help significantly simplify multi-cloud management. To realize this ambition, VIB has chosen Microsoft as a strategic partner and this partnership marks a major milestone for the bank in adopting and implementing cloud approach and a profound digital transformation agenda.

Mr. Han Ngoc Vu, CEO of VIB,  has shared: “Cloud computing has been the trend of the world. For the banking industry, this is no longer a technological concept but actually a strategy that can help improving customer experience, accelerating product development, enhancing security, optimizing costs and pioneering in applying new technologies into services. We believe that using cloud-based solutions is unavoidable going forward, and choosing Microsoft as strategic partner for multi-cloud platform development is appropriate venue for us.”

The partnership with Microsoft was based on the benefits of Microsoft Azure – its ease of deployment, long-term scalability and reliability. Microsoft capabilities will empower VIB to architect a multi-cloud ecosystem using Microsoft Azure as the primary cloud for VIB applications, while ensuring the same applications can move or run across a secondary cloud if necessary. In the next three years, VIB will prioritize transferring and host its applications and business platforms to the cloud. During the process, VIB is simultaneously modernizing and shifting the computing workload including business applications and end-user computing needs to this new platform.

Within the framework of the agreement, both parties will also deploy important projects on Cybersecurity, Big Data, AI, Open API, IoT and Modern Workplace to achieve VIB’s digital transformation process. In addition, Microsoft will provide training and certification for VIB employees to ensure that the human resources are qualified with the best skills in applying technologies to the working process and implementing work tasks.

A foundation for breakthrough in service speed and innovation

Ms. Phan Tu Quyen, Marketing and Operation Lead, Microsoft Vietnam

VIB’s cloud migration strategy has been started long since with the preparation of the elements of technology and human resources. From the beginning of this year, the bank has pioneered in using cloud in some projects.

The announcement is the starting point for the two teams to work together to support VIB achieving greater efficiencies, take advantage of the economies of scale and establish the resilient performance of the bank’s infrastructure.

The speed and scale of continuous innovation offered by Microsoft Azure will allow VIB to create a secure, high-speed, low-latency infrastructure while reducing the cost of integrating multi-clouds with its existing IT system while providing a better banking user experience.

With most of the world’s data being created in recent years, multi-cloud scalability allows VIB to scale their infrastructure up or down based on an ongoing demand. With Microsoft’s solutions and technologies embracing multi-cloud approach, VIB will be able to protect its critical business applications and data by comprehensive management suite, redundant backup and recovery capabilities that provide business continuity when an emergency strikes, whether caused by a failed disk, power outage or natural disaster.

Paulo Fernandes, Microsoft SMC APAC Lead and General Manager of Microsoft Vietnam, stated: “Cloud computing undoubtedly has been playing a pivotal role for financial institutions and to gain the agility they need for innovation acceleration.” Paulo added: “With Microsoft Azure as a powerful cloud enabler, I believe that VIB will be reaping great rewards in terms of customer satisfaction and the next generation of banking experience.”

About VIB: VIB (HOSE “VIB”) is the leading bank in digital banking and customer experience in Vietnam. In 2020, VIB achieved remarkable growth in the number of new digital banking users via MyVIB application by nearly 300%. The number of active users reached 103% and the number of online transactions increased by 110%. These factors have helped VIB become one of the banks with the highest proportion of online transactions, at 91% of the total number of transactions. VIB has received ‘Innovation in Digital Banking 2021’ award from The Banker. This is the 7th year in a row MyVIB has been honored with prestigious awards by major international media agencies such as The Banker, The Asset, and Global Finance Review.

About Microsoft:Microsoft (Nasdaq “MSFT” @microsoft) enables digital transformation for the era of an intelligent cloud and an intelligent edge. Its mission is to empower every person and every organization on the planet to achieve more.

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