Southeast Asia Commercial Joint Stock Bank (SeABank, HOSE: SSB) has successfully upgraded the T24 Temenos Core Banking system to version R22 – the latest version in Vietnamese market. This aims to enhance compliance with international standards, to improve risk management, transparency and safety of banking operations. In addition, the upgrade helps improve system performance and capacity, fulfilling demands of business expansion, thereby bringing the most outstanding experiences to customers using the Bank’s products and services.
Feature upgrades in line with international practices
Identifying technology as a key to enhance competitiveness, in 2006, SeABank invested heavily and became the first bank to successfully implement T24 Temenos – the world-leading and modern core banking management software. With the goal of improving product and service quality, optimizing service operations, and increasingly meeting customer needs, SeABank frequently updates features and upgrades to the latest version.
In November 2024, SeABank successfully upgraded to T24 version R22 – the latest version implemented in Vietnamese market. One of the key improvements of version R22 is the integration of new business features, meeting international standards in finance and banking. This system supports SeABank in enhancing compliance with international regulations, improving risk management capabilities, transparency and safety in banking operations. The new business features of T24 version R22 allow the Bank to flexibly customize products and services to meet diverse demands of customers, especially retail banking and corporate customers.
With this upgrade, SeABank can launch financial products in line with international standards, helping customers easily access advanced financial services such as multinational cash flow management, international payments and different investment services. Compliance with international standards not only helps SeABank expand its international network, but also gains valuable trust from partners and customers, thereby enhancing reputation in the financial market.
New technology for improved system performance and capacity
In addition to business feature upgrades, SeABank utilizes advanced technologies integrated in T24 version R22 to optimize the core system performance. This new version uses modern technologies (TAFJ) and real-time data analysis to help shorten transaction time, improve accuracy, and minimize system errors.
Thanks to the application of new technologies, the T24 R22 core banking system can process a large number of transactions at once without affecting performance, thereby meeting the increasing transaction demands of customers. The system is also flexibly scalable, helping SeABank easily add new features and services in the future without affecting operational performance. This advancement helps the Bank quickly adapt to market changes, while improving service capabilities and customer experience.
Mr. Nguyen Tuan Cuong – Deputy CEO of SeABank shared: “SeABank is proud to pioneer in upgrading the core banking system to T24 version R22, creating a solid foundation for sustainable development. We believe that this innovation will help SeABank improve market competitiveness, optimize operations, bring added value and outstanding experiences to customers.”
The upgrade is also an investment for SeABank’s long-term benefits, bringing customers a completely new banking experience that is more convenient and safer, gradually actualizing the “Digital Convergence” strategy to become the favorite retail bank.
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