This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Vietinbank Prepares For The Future Of Vietnamese And International Banking With New Core Banking System From FIS

FIS™ (NYSE: FIS), the world’s largest provider of banking and payments technology, today announced that it entered into an agreement with Vietnam Joint Stock Commercial Bank for Industry and Trade (Vietinbank) of Vietnam to deliver a full core banking replacement that will support the bank’s fast-growing consumer, corporate and international businesses.

Vietinbank is one of the largest and most established commercial banks in Vietnam with assets greater than 520 trillion Vietnamese dong (US$25 billion), accounting for more than 20 percent of the country’s banking assets. It is listed on the Ho Chi Minh Stock Exchange (HOSE) with the government as a majority shareholder. Vietinbank has the second-largest branch network in Vietnam, featuring more than 1,000 branch and sub-branch locations and over 1,700 ATMs in 63 provinces and cities throughout the country. This new relationship highlights the importance of Asia in FIS’ international growth strategy.

N. Brian Birt, General Manager, Financial Solutions for ASEAN, FIS Asia said, “Vietnam is strategically very important to FIS, and we are delighted to be helping Vietinbank through its core system replacement. We are already providing banking and payments solutions to a number of major financial institutions in this market and recently established a permanent office in Hanoi that will enable us to develop our position as the premier banking and payments technology provider in Vietnam. Our relationship with Vietinbank is a significant step forward, and demonstrates our dedication to helping advance the Vietnamese banking market.”

Following years of achieving exceptional growth, Vietinbank realized that to maintain its market-leading position in one of Asia’s most dynamic and fast-growing emerging markets the bank needs to upgrade its core banking technology infrastructure. Vietinbank selected FIS for its sophisticated and flexible core banking platform with FIS Profile as the main core banking engine, utilizing FIS TouchPoint ® and Xpress ® to deliver a comprehensive front-end integration for the bank’s branch, ATM and online services.

“FIS’ comprehensive and integrated core banking platform will provide Vietinbank with the scalability to meet our growth plans and the flexibility to meet the changing needs of our dynamic customer base,” said Mr Pham Huy Hung, Chairman of Vietinbank. “We selected FIS after a very thorough and detailed RFP process. We were impressed with FIS’ deep understanding of the challenges we face, and their commitment to the future success of Vietinbank.”

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.24 0.00%
FB $117.81 0.00%
GOOG $701.43 0.00%
TSLA $211.53 0.00%
YHOO $36.94 0.00%


Chart of I:DJI
DOW 17,660.71 +9.45 0.05%
S&P 500 2,050.63 -0.49 -0.02%
NASDAQ 4,717.0940 -8.5450 -0.18%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs