Lien Viet Post Joint Stock Commercial Bank (LPBank) has entered into a strategic collaboration with Finastra and NGS Equipment and Communication Joint Stock Company (NGS) to modernize its treasury capabilities. The partnership is a crucial component of LPBank’s broader digital transformation initiative, with Finastra’s front-to-back treasury solution expected to enhance operational efficiency and governance, positioning the bank for increased competitiveness. LPBank aims to fully digitize all its capital operations and enhance business and risk management across the institution through this project.
Ho Nam Tien, Vice Chairman cum General Director of LPBank, highlighted the collaborative nature of the agreement, combining the technological strengths of Finastra, the local knowledge of NGS, and LPBank’s innovative spirit. The implementation of Finastra’s Kondor treasury solution is anticipated to increase trading volume, improve transaction quality, shorten transaction operation time, and support the development of diversified demand for trading derivatives and complex structured transactions.
Richard Zhu, Managing Director, Capital Markets, Asia Pacific at Finastra, expressed pride in being chosen by LPBank for this initiative. He emphasized Finastra’s commitment to supporting LPBank’s modernization efforts and adapting to regulatory and market changes. Zhu underscored Vietnam’s importance as a key market for Finastra, highlighting the ongoing digital transformation in the banking sector and the partnership with NGS as a demonstration of Finastra’s commitment and investment in the country.
Pham The Truong, Deputy General Director at NGS, expressed gratitude for being chosen as a partner in this project, committing to providing maximum support to LPBank in achieving its goals. The deployment of Kondor is a flagship endeavor for LPBank, aiming to expand services, reach markets more efficiently, and significantly reduce costs across core banking, data management, payments, and omnichannel banking.
LPBank’s recent recognition as one of Vietnam’s 100 most valuable brands by Brand Finance reflects its substantial progress following comprehensive transformation and investments in technology, human resources, products, and service quality.
