Case studies VietinBank
Case study: Digital transformation
Digital transformation of core banking
VietinBank is one of the largest listed organizations in Vietnam, providing services to both private and corporate clients (including PetroVietnam and Vietnam Electricity). The bank offers deposit, loan, settlement and currency services, as well as financial services in international trade and trading in securities.
As a result of changes in the ownership structure, VietinBank committed to modernize the IT infrastructure and core IT systems. For the first time ever, the systems selected in this project were combined in a single architecture. In addition to FIS Profile, which served as the core system, VietinBank implemented e.g. TouchPoint (as branch service front end), BankFast (eBanking), Eximbills (Trade Finance) and Oracle GL (General Ledger service). All these systems were deployed at the same time, which made their integration with the central system highly challenging. The integration of Oracle GL, an application supporting the General Ledger, with FIS Profile turned out to be most complicated. Apart from the integration itself, a new chart of accounts with significantly modified accounting schemes had to be implemented in both systems.
Due to the scale of the project, the challenge of the business analysis phase was to capture the concept of changes that would adapt foreign products to local banking principles. Cultural, linguistic and business differences had to be taken into account. In addition, analytical work was to be conducted in cooperation with analysts from various countries, cultures and business areas.
The first phase of the project involved collecting and documenting requirements for the entire range of VietinBank’s future systems and then confronting them with the client’s needs and the capabilities of the PROFILE system. The next stage included analytical support of the development team in the phase of delivering and testing the applications. Where the planned solutions turned out to be inefficient or cost-ineffective, experts with CCA Europe.pl renegotiated, and drafted, an alternative path with the bank. For example, Oracle GL, an application introduced by VietinBank as the core accounting system for managing financial accounting, replaced the FMS Profile module. In this integration project, the CCA Europe.pl team successfully conducted not only business analysis, including chart of accounts parameterization and designing new accounting schemes. We also designed and deployed all necessary code changes in FIS Profile and modified the interface to enable data flow from the central system to Oracle GL.
CCA Europe.pl supported the client in preparing a training program in the new system for 15,000 bank employees. The team prepared 200 people for the role of an in-house trainer and developed a set of tutorial videos.
duration of analytical
pages of developed
After completing the 4.5-year project, VietinBank underwent a real digital transformation. In-depth knowledge of all areas of banking operations and the related management processes has expanded the competencies of the entire CCA Europe.pl team. It also allowed them to get immersed in Far Eastern culture.