Held on 23 and 24 August in Hanoi, the Temenos Regional Forum 2023: ASEAN brought together over 350 banking professionals from Asia Pacific to discuss the future of banking in the region.
As well as looking at emerging trends and how banks can stay resilient in the face of global economic headwinds, the event celebrated banks from around the region who are leading the way in modernization, transformation and innovation with the following awards.
Banking Modernisation Award – PVcomBank, Vietnam
One of Temenos’ oldest customers in Vietnam, PVcomBank implemented Temenos core banking in 2014 and Temenos digital banking platform in 2022. PVcomBank was nominated as the first bank in Vietnam to deploy the latest version of Temenos digital and core banking on AWS to modernize its ecosystem. By using Temenos solutions end-to-end, they can leverage all Temenos’ latest technology to rapidly gain market share. Today PVcomBank is growing strongly and asserting its prestige and position in the local market.
Core Transformation Award – CB Bank, Myanmar
As one of the largest and most respected private banks in Myanmar, CB Bank has consistently demonstrated a commitment to innovation, technological advancement and customer satisfaction. This nomination reflects CB Bank’s exceptional journey and its pivotal role as a torchbearer in the financial industry.
CB Bank started off in 2011 as the one of the first banks in Myanmar to adopt industry standard core banking solutions, recently upgraded its Temenos Core Banking, and is one of Temenos’s first clients to transition to the Postgre database. This latest strategic decision showcases CB Bank’s willingness to pioneer trends by adopting cutting-edge technological solutions.
Customer Experience Award – Saigon Thuong Tin Commercial Joint Stock Bank (Sacombank), Vietnam
Sacombank is one of the biggest Joint Stock Commercial Banks in Vietnam, serving 15 million individual and corporate customers, 50% of those digital. The number of transactions on its digital channel increased five times between 2018 – 2022, with 97% of its transactions digital in 2022.
Sacombank added Temenos’s digital banking solution in 2022, on top of its existing core platform, delivering a complete end-to-end retail banking solution, which will enable an even more personalized, seamless experience for customers. Earlier this year, Sacombank launched a new generation digital banking website, based on user experience, concise content and an intuitive interface.
Digital Transformation Award Saigon – Hanoi Commercial Joint Stock Bank (SHB), Vietnam
Over 30 years, SHB has developed a strong position in the Vietnamese financial market, expanded onto the global stage, and contributed to the development of the domestic financial markets and the country’s economy.
Implementing Temenos digital banking solution in 2022, the bank has delivered a full-scale agile delivery model in just four months and full project go live with migration in nine months. Its rapidly growing digital team now has over 200 members, dedicated to transforming the way customers engage digitally, while delivering maximum value to all stakeholders.
Banking Scalability Award – Military Commercial Joint Stock Bank, Vietnam
Established in 1994, Military Bank’s (MB) versatile model has seen it placed firmly in the top five domestic banking systems in terms of asset size, operational efficiency and profitability.
MB attracted more than seven million new customers in 2022, bringing its total number to over 20 million, about 20% of the population of Vietnam. Simultaneously, Temenos technology has helped to bring MB’s operating expenses ratio to total income below 30%, among the lowest in the market. Its impressive growth continues, and this year it is targeting 30 million customers, with the aim to expand to 50 million by 2025.
Banking Innovation Award – KAF Investment Bank, Malaysia
KAF Investment (KAF) is a pioneering example of how a financial institution evolves over time to stay ahead of the market with its innovative products and business model. Throughout the relationship since 2020, the bank has pushed to innovate on the Temenos platform, harnessing its full potential.
In 2022, it became the first full service Islamic Retail and SME Bank in Malaysia to win a digital banking license. Since then, KAF has extended its partnership with Temenos, implementing end-to-end solutions, Financial Crime Mitigation, Temenos Payments Hub, Temenos Data Hub and Analytics as the core technology platform for the Digibank, all of which is set to launch in early 2024.
Banking Visionary Award – Baiduri Bank, Brunei
Baiduri Bank is both a visionary bank in Brunei and a pioneer in ASEAN on the path to being fully digital native with the adoption of Temenos Core Banking, Financial Crime Mitigation and Payments on a complete SaaS platform. It is the first bank in Brunei to be fully cloud native.
Baiduri is a great example of how a conventional bank can take the leap to the cloud. This award recognizes Baiduri’s, technological innovation, customer-centric approach, sustainable banking practices, innovative products and services, and market-leading compliance and regulatory adaption.
Sustainability Banking Award – BDO, Philippines
BDO is the Philippines’ largest retail bank and the first among the top 5 to transition from hosting core services on its datacenters to a full SaaS platform.
BDO’s SaaS Project is closely aligned to its sustainability philosophy with the aim of embedding sustainability principles in everything the bank does — from making decisions to assessing relationships to creating products.
Temenos has worked closely with the bank to deliver phase one so far of a Core Transformation project covering Deposits Origination Systems for different lines of business, Trade Finance transformation and collections that will transform the bank’s offering and significantly reduce its carbon footprint.
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