At A Glance
- One of Vietnam’s most established commercial banks with 6 million retail customers and 100,000 corporate clients
- Modernized with Temenos Core, Temenos Payments Hub, and Temenos Data Hub
- 10% customer and account growth, 180% transaction volume increase within six months of go-live
- 2–5x acceleration in time to market for new products
Founded in 1991 in Hai Phong City, Vietnam Maritime Commercial Joint Stock Bank (MSB) has grown to become one of the country’s most prestigious financial institutions. With a charter capital of VND26 trillion and nearly 6,700 employees, MSB serves more than 6 million retail customers and 100,000 businesses through a national network of 260 branches and transaction offices.
MSB is known for its forward-thinking approach and deep commitment to customer-centric innovation. As the first joint stock commercial bank in Vietnam, it has always embraced a pioneering spirit—one that is now focused on shaping the future of digital banking in Vietnam.
Our mission is to deliver a more convenient and beneficial life for customers, and by extension the country. That starts with a solid, modern core.”
Mr. Nguyen Hoang Linh, CEO of MSB
Time for change
Like many traditional banks in Vietnam, MSB found itself at a crossroads. The rapid rise of digital-native competitors and changing customer expectations—accelerated by the post-COVID shift toward 24/7 digital banking—made transformation essential.
Customers, especially younger generations, no longer saw banks as physical branches. They expected services to be available instantly, digitally, and seamlessly—from simple payments to more complex lending, trade finance, and forex services. At the same time, the Vietnamese government and central bank began pushing for a cashless society, further accelerating the pace of change.
MSB’s legacy core system had served the bank well. However, it became no longer fit for purpose for a bank accelerating its digital transformation journey.
To move forward, MSB needed a strong, stable, and flexible foundation to support the bank’s long-term digital ambitions.
Wanting a state-of-the-art solution
MSB’s selection criteria was expansive. The new system had to be rich in features, such as straight-through processing and product innovation tools. It needed to be highly customizable, easily integrate with other software, and cloud compatible. It had to be scalable, so that increasing levels of performance and availability could be achieved cost-effectively. And the bank wanted a vendor with a long term vision and commitment to the country’s banking industry and wider market.
After a thorough evaluation process, MSB selected Temenos to power its modernization. Three key solutions were deployed: Temenos Core (providing a modern, scalable banking platform); Temenos Payments Hub (TPH) (enabling efficient, integrated payment processing); and Temenos Data Hub (supporting advanced analytics and data-driven decision making).
Temenos stood out across a number of factors: a rich product suite; a modular and API-enabled architecture; the availability of on-premises, SaaS or managed cloud deployment options; its track record coupled with its long-term vision; and the strength of its implementation team. This all combined to deliver a more optimal total cost of ownership.
We chose Temenos because it gives us a suitable solution with rich functionality, scalability, flexibility, and a strong partner for now and the future.”
Mr. Nguyen Hoang Linh, CEO at MSB
An outstanding impact
With Temenos providing the powerhouse for change, MSB has kicked off new digital programs, among which a new mobile and internet banking platform for retail and corporate clients. The benefits of MSB’s modernization have been significant.
Within just six months of going live customer and account volumes increased by 10% and transaction volumes surged by 180%. Additionally, the bank has seen maintenance costs fall significantly, and a 2-5 times acceleration in time to market for new products.
It is now launching complex new products to market in a matter of weeks instead of months. These include rate sharing sponsored lending for employee apartment buyers; certificate of deposit buy and sell; and forward rate agreements (CCS/IRS).
With Temenos, we can bring new products to market faster—weeks, sometimes even days, instead of months. That’s a huge competitive advantage.”
Mr. Nguyen Hoang Linh, CEO at MSB
Trusted beyond the tech
Mr. Nguyen explains that the experience and expertise of the Temenos team was crucial in achieving this fast start. He points to three key areas of the implementation. First, striking the right balance between a fast deployment while ensuring no compromise on the customer experience. Secondly, setting smart priorities while creating enough flexibility in the plan to be agile. Finally, the value of piloting new capabilities as early and as often as possible.
The experience, he adds, demonstrates how Temenos is far more than a technology vendor. “They are equally committed as we are to making our investment work. They define success not simply about the now, but about delivering our long-term vision.”
Looking ahead, MSB plans to continue building on this foundation. The bank is exploring upgrades to the latest Temenos releases and evaluating the Temenos Financial Crime Mitigation suite to strengthen compliance and risk management.
Mr. Nguyen and his team are now looking to the future with more confidence than ever.
With Temenos, MSB has laid the groundwork for the next chapter in our transformation journey—one defined by innovation, inclusion, and impact.”
Mr. Nguyen Hoang Linh, CEO at MSB
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