“People are the decisive factor for successful digital transformation”
According to Anh Tuan, Techcombank invests up to 500 million USD in technology for the period 2021-2025, with a focus on shifting and modernizing existing applications on the cloud computing platform.
Cloud First and talent
Cloud computing is gradually forming a new “race” in the application of technology across the banking system recently. According to the “Strategy for development of information technology in the banking industry in Vietnam to 2025, with a vision to 2030”, the goal is that by 2025, 60% of Vietnamese banks will use cloud computing services, and this will increase to 100 percent. % by 2030.
Although many banks have identified the importance of this technology early on, only a few banks have really invested heavily in this technology, of which the pioneer with the “Cloud First” strategy is Techcombank. In September 2021, this bank announced the selection of Amazon Web Services (AWS) as a partner to provide cloud computing services, in order to improve the quality of technology infrastructure and customer experience. Accordingly, Techcombank will upgrade its technology system by taking advantage of AWS’s leading cloud service, building an integrated data platform that allows the bank to make real-time decisions, optimize platform to accelerate the creation of new products and services, thereby improving service quality and online experience for customers.
Sharing at the last May 2022 AWS Summit ASEAN, Mr. Nguyen Anh Tuan – CIO Techcombank said that the latest research by reliable financial consulting firms shows that customers of Vietnamese banks Nam is becoming more digitally savvy, with more than 70% preferring to purchase banking products or services through digital channels.
“Only cloud technology can best meet the needs of customers, providing a seamless and seamless service experience. Furthermore, cloud computing can help us with behavioral analysis, insights and insights. understand to improve the efficiency of services and products provided to customers,” said Mr. Tuan.
Choosing a new direction, of course, will always have challenges. The first challenge that Mr. Nguyen Anh Tuan identified was the lack of personnel with expertise and capacity in cloud computing while the recruitment market was very competitive. “In the early stages of project implementation, very few members had appropriate knowledge and experience in cloud computing,” shared CIO Techcombank.
At that time, Techcombank had to apply many solutions at the same time, such as recruiting talent globally with the necessary cloud skills, promoting training and retraining of the bank’s human resources to improve their capacity. , optimizing network of experts for risk management…
Thanks to drastic solutions, from the end of 2021 Techcombank has successfully implemented the AWS Skills Guild Program for 700 employees. It is a comprehensive skills support program designed to develop cloud computing capabilities and is expected to expand training to 2,000 employees by the end of 2022.
The biggest challenge is daring to change
Mr. Nguyen Ha Thien An – Software Development Director, managing Techcombank’s strategic cloud initiatives shared that when he started implementing it, the biggest challenge was change. In Vietnam, Techcombank is a pioneer in implementation, so everything is new to the staff. Thinking, systems, regulations, processes, designs, ways of working… all have to change and update continuously.
“From what training, experience and working model are available, we apply a combination to work – learning goes hand in hand. Knowledge is just the initial common foundation, we then apply it. reasonable to fit into the banking reality The real challenge comes at this stage: what is the available capacity, what is the required capacity when going to the cloud, what is the difference, the impact on the organization Techcombank has created an open working environment so that we all dare to do, dare to experiment, dare to change and gradually improve our capacity” – Mr. Thien An confided.
Kondor – the transaction management system of the Global Transaction (GTS – Techcombank) block – is considered one of the most complex applications ever moved by a bank to the cloud due to the complex nature of the system, the deployment model However, in March 2022, Finastra – one of the world’s leading technology companies, was chosen by many banks as a strategic partner. Techcombank is recognized as the first bank in Vietnam to successfully migrate Kondor to the Cloud.
About this system, Mr. Nguyen Manh Tam – Senior Manager of Software Development, Techcombank’s Technology Division, in charge of the project, said that Kondor is a complex application and has never been deployed by any unit on the environment. cloud computing. This result thus demonstrates the determination, capacity and efforts of the staff in approaching the new technology platform. This success also confirms that Techcombank is fully capable of deploying other complex systems to the cloud. The nights of testing, cross-border meetings to find solutions… with Tam and colleagues are always memorable moments. “This is the result of efforts, together, and we understand more deeply the value of people that Techcombank has always oriented for all activities,” said Mr. Tam.
Techcombank’s journey to the cloud is still continuing, with people being the central factor determining success. As shared by Mr. Nguyen Anh Tuan, any strategic change is difficult, and motivation is a fundamental factor for employees to stick together and implement together.
“At Techcombank, the cloud has never been an independent project, but has become an integral part of every bank’s daily activities. This journey is primarily for customers, because cloud applications will allowing us to develop products and services faster, with more information to develop personalized services according to the user experience,” affirmed Techcombank’s CIO.
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