VPBank upgrades core banking with Temenos and Systems Limited

This strategic transformation reflects VPBank’s commitment to digital innovation and operational excellence, leveraging modern cloud-native technologies to enhance scalability, performance, and customer experience.

Photo: Systems Limited

The project involved migrating VPBank from its existing version of Temenos core banking to the latest release, hosted by Red Hat OpenShift. The upgrade encompasses the migration of more than 18 million customer accounts and millions of loan records, serving a customer base of over 17 million. Despite the scale of this major operation, the transition was completed in a single cutover window of less than 24 hours.

This modernisation introduces major advancements across VPBank’s operations. By moving its application architecture to the cloud with Red Hat OpenShift, the bank now operates in a fully cloud-native environment, unlocking new levels of resilience, agility, and operational efficiency.

The platform equips VPBank with the ability to bring new products to market faster, integrate more seamlessly with external partners, and deliver richer digital experiences through improved reliability and performance. The transformation also drives significant cost indicators by automating workflows, optimising resources, and reducing IT overheads.

“At VPBank, modernisation is not an end in itself but a foundation for what comes next. By embracing open, cloud-native architectures and reengineering our core banking platform on Red Hat OpenShift, we are building the agility and resilience needed to continuously innovate at scale,” said Wong Kok Seng Augustine, chief information officer at VPBank.

“This transformation reflects our commitment to being a technology-first bank, one that can evolve rapidly, deliver with consistency, and serve all our customers with trust and speed in an ever-changing digital world. We deeply value the strong collaboration with Temenos, Red Hat, and Systems Limited, whose partnership has been instrumental in turning this vision into reality,” added Wong Kok Seng Augustine.

This modernisation marks a defining step in VPBank’s journey to shape the future of digital banking in Vietnam.

“This success with VPBank demonstrates the depth of our expertise in executing major core banking upgrades on a global scale. By combining innovative methodologies with Temenos’ next-generation platform and Red Hat OpenShift, we have enabled VPBank to achieve remarkable improvements in scalability and efficiency. This is a milestone that showcases our commitment to enabling banks across Asia-Pacific to modernise for the digital future,” said Ammara Masood, general manager of global industries, banking and financial services at Systems Limited.

“We are proud to partner with VPBank, Systems Limited, and Red Hat on this groundbreaking transformation,” said William Dale, managing director for Asia-Pacific at Temenos. “By moving to the latest Temenos Core on Red Hat OpenShift, VPBank gains the agility to design and launch products faster, integrate seamlessly with digital ecosystems, and deliver superior experiences to millions of customers.”

“This project sets a new benchmark for core banking modernisation in the region and highlights how leading banks like VPBank are choosing Temenos to accelerate innovation, enhance customer experiences, and scale with confidence,” noted Dale.

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