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Vietnam's banking system has built up an IT infrastructure and IT systems relatively modern and centralized model accounts

Solution design applications deployed IT systems in banks

The impact of IT on banking sector
To be able to develop strong and competitive equality before the participation of foreign banks (which are expected to hit the market after 2010 VN), VN banks need to increase the advantage in many ways, including the application of information technology (IT) plays an important role.

According to the market survey company Vinacapital, in VN now has 47 active bank, in addition to 29 branches and 45 representative offices of foreign banks. Compared to many countries in the region, VN banking market relative bustle and still huge potential with a population of over 83 million people. However, the activities, the bank also services as weak, yet diverse and attract customers. This is a weakness that the banking sector VN need the help from the application of IT.

The investment in IT applications in banking will lead to higher operating efficiency and even better to invest a large amount in the first period, the sales results in the long run bring greater still very more. The application also provides many IT systems and applications which will generate even more banking services.

The IT system helps the management and business of the bank is close, safe, accurate, timely and effective.
IT applications in banking

The main application of IT in the bank is focused data, customer account management, building a unified data warehouse system, direct access to information, online service provider, step by step the Interbank ATM connection. Organizations National Payment Center, established customer accounting systems, process automation instant transactions, a system of automatic payment within big banks, national payment network link in between banks and between banks and customers.

Online Payment System automatically built according to international standards and have 8 basic parts:

- High-value payment flows (over 500 million) and the payment of emergency, fully automatic.

- The flow of low value payments, payment processing batches of food.

- Handling settlement fund balance by focusing on deposit accounts, online payments connect headquarters, branch banks with national billing center, handling the shortage of capital through the payment processing overdraft and overnight lending.

- Collate data last working day, ensuring the consistency between the data generated in the central member and the national settlement process

- Ensure security and system security with multiple layers of protection and surveillance equipment access, data encryption on transmission lines, firewalls, etc.

- The system supports the use and monitoring of payment transactions.

- Interface with automated systems such as billing systems and internal SB Internal banks, clearing systems Cheque countries, SWIFT network, the system switches ATM processing, clearing decision securities.

- Prevention and disaster recovery.At big banks, IT systems meet the requirements of business and industry connections with central bank, financial institutions in the country and internationally. Single processor system, at the local branch of the same bank is changing the model of the modern centralized processing, WAN connectivity, capable of providing many new products at your convenience , precise and secure.

Overview of IT in banking system

Vietnam's banking system has built up an IT infrastructure and IT systems relatively modern and centralized model accounts, multiple banking facilities have been banking sector for exploitation and use needs for economic development

- social and active integration with the region and the world.

Include the following systems:

- Distributed transaction system: the transaction service for customers, mainly operational support staff and monthly statistics, this system is being replaced by a focus on modern processors.

- IPCAS system, built on the most advanced technology, the application of operations management to modernize bank payment systems and accounting internal customers, management and use of data focused to meet the expanding demand banking products and services.

- Electronic money transfer system through the central processing system with server and WAN connection to the bank branch, the application program from 1999 to completely replace cash manually.

- Card Systems, providing banking services through ATM and POS for payment for goods and services.

- Storage system and data reporting for the executive direction and establish uniform reporting system.

- The system connects customers to meet customer demand for lookup information kiosk automatic payment transactions, phone banking, home banking, overdraft personal connection "host to host" with corporations and financial institutions, thereby creating new distribution channels for our customers, while helping centralized management of client funds.

- The system connects Western Union payment, based on new technology infrastructure and ability to integrate online payment remittances.

- WAN system is multi-network integration services such as data, voice, video, enabling the development of services on the same infrastructure.    

IT Solutions for modern banking
RequestTechnological innovation has gradually raise the bank's position in the financial system in the country and internationally, but also new risks arise, especially for electronic payment systems, including:
- Risk overdraft on the cause of the biggest potential to cause instability in the financial markets today. Negative balance is often seen on the day by banks and bank customers often send e warrantor to pay the debt and interest payments through the night early work, and make more power received from the bank other end of the day, usually at sent warranted greater than warranted received.
- Risk of technology transfer by international financial services company in the country often do not have the ability to transfer technology to domestic lucrative international markets to gain competitive advantage, while domestic banks foreign penetration into the local market with the ability to create products based on domestic technology at low cost.
- Risk and fraud crimes such as stealing, copying data, criminal office. Every day there is a lot of money transferred through electronic networks, while a handful of bankers have expertise in personal identification numbers and passwords to access electronic network, which is motivated Crime Office.
- Risk provisions in the direction of easing regulations to attract foreign investment partners and increase competitiveness, but the increase in the international transfer system electronically also reduces the ability of central banks to control the money supply in the domestic market.
- Reduced tax revenues by electronic funds transfer system allows to minimize the burden of local taxes and increasing the tax-free overseas.
- Competitive risk.
- Risks arise when technology investments to develop the technology to create cost savings expected to expand operation scale.
IT Innovation requires the optimization of various fields of technology such as servers, applications, storage systems, data centers, hardware equipment and software, with the ability to connect between the domestic banks with an even number of foreign banks. Thereby, saving investment costs, operational control, security system, capable of disaster recovery in the event of risk.
Advice

The selection of technology solutions for banking information plays a very important role in the process of deploying IT systems banks. The EQ consultants will provide customers full information and objective assessments on information technology solutions for the banking sector leading the world and in Vietnam. EQ will also propose to customers the proper planning and implementation of synchronization between information technology solutions and to exploit the services of the bank, on the practical experience of implementing many banks in Vietnam.
Our EQ ready all requirements related to the implementation and guidance for core banking system. The expert advice we have been practicing the enforcement case trouble arises from the project until the maintenance phase. Also, when we have done the work for the user generated and guide their clients to better understand and evaluate their positive characteristics related to core banking system. The effectiveness of our consulting team is put all of energy into the process of implementing the technique is created for the core banking system.
SolutionChoosing engineering solutions consistent with global trends, compliance solution open, with scalability in subsequent years. At the same time, develop appropriate software applications, in accordance with the conditions of Vietnam. On this basis, building advanced systems engineering, implementation of technology transfer is effective to shorten the distance lag.
Combining new technologies with applications studied editing and building new business processes, in accordance with the conditions of modern technology.
Systems core banking software

This is the central system, solving the core business of the bank.

The system has the following main functions:   

* System Management (management system)   

* External Interface (external interface)   

* CIF (Customer Information)   

* Accounting (Accounting)   

* Deposit (Cash in)   

* Loan (Credit)   

* Trade Finance (International Settlement)   

* Local Remittance (domestic remittance)   

* Foreign Exchange (forex, foreign remittance)   

* MIS Report (Leadership Report)

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