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Surpassing Benchmarks in Payments and Cash Management

Innovating Beyond Modernisation: A VCB CashUp Case Study

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Increase in CashUp customer base since the project went live in 2021

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CASA growth of CashUp customers

Surpassing Benchmarks in Payments and Cash Management
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IBS Intelligence’s take

This report provides useful advice and direction on how iGTB’s partnership with Vietcombank to provide the VCB CashUp solution is an example of how banks should modernise their offerings. iGTB's knowledge about the Vietnam market obtained through implementation experience helped it to configure the offering as per local market requirements, thus enabling Vietcombank to roll out the new product with ease.

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Key Highlights​

This paper describes how Vietcombank’s collaboration with iGTB resulted in innovations that can serve as an example for financial institutions to adopt a similar approach to streamline operations, reduce implementation timelines, and provide value to their corporate clients.

Project Approach

VCB CashUp Project Approach

Through a digital transformation journey, Vietcombank wanted to switch over to a newer corporate banking application with an aim to digitise operations, products, and services, enhancing its proposition to financial institutions and wholesale clients.

Successful Deployment

Successful Deployment in the Face of Pandemic

When the world was wrapped in Covid-19 crisis, adopting a new core banking system and payments hub connecting with local payment networks was a challenge as it required many interface changes. These changes were handled using a middleware layer at both PCM and ensured minimal impact.

Key Capabilities

VCB CashUp Key Capabilities

VCB CashUp offers a rich product suite of transaction banking, including Digital Payments, Enhanced Liquidity Management, Supply Chain Finance, Virtual Accounts, Electronic Cash Collections & Receivables, Bill Payments, Host-to-Host services and other advanced functions. This increased the scale of Vietcombank and its revenue with more business and volume of transactions routed through Vietcombank’s system.

Key Impact

Key Impact

The VCB CashUp implementation has equipped the bank with the foundation for Growth & Innovation towards digital transformation – a base that is Future Proof, Scalable, Secure, Reliable, Flexible, Extensible and Maintainable. Through this initiative, Vietcombank was able to achieve increased revenue and improve its operational efficiency and customer experience.

Vcb Pr Section

iGTB featured in IBS Intelligence case study on Vietcombank’s Cashup program

iGTB is the world’s first complete Global Transaction Banking platform from Intellect Design Arena. iGTB’s software products help Corporate Banks prepare for a new era of customer-centric services. With a rich suite of transaction banking products, across Cash Management, Payments, Liquidity, Virtual Accounts, Trade Finance and Supply Chain Finance, iGTB is an authority on integrated transaction banking products that enable banks to meet their ambition to be the Principal Banker to their corporate customers.

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Quotes

VCB CashUp is a key, large-scale Information Technology program and is of significant importance to Vietcombank’s business in the coming years. Vietcombank has spent 2 years studying the pre-feasibility of the project and submitting it to the State Bank for approval until it selected iGTB for ensuring success in implementing the project.
Mr. Tung Nguyen ThanhGeneral Director at Vietcombank
Mr. Tung Nguyen Thanh
More than 100 global banking groups across Americas, Europe, India, MEA and APAC transact daily and in huge volumes on the iGTB's Transaction Banking Platforms. We applaud the vision of Vietcombank to enhance its digital proposition in Vietnam for corporates. iGTB’s Digital Transaction Banking platform powered by eMACH.ai technologies creates customer stickiness with the ability to quickly respond to customer and market needs. The outcomes documented in this case study are further proof that iGTB continues to be the key ingredient in the success of corporate digital transformation programs.
Manish MaakanCEO, iGTB
Manish Maakan
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