In the era of digital transformation, VietinBank stands at the forefront, leveraging Amazon Web Services (AWS) to innovate operations, enhance customer experiences, and set new benchmarks in Vietnam’s financial sector by enabling a strong foundation for migrating its core banking and system applications, highlighting its launch of Vietnam's first cloud-native digital bank.
VietinBank: Redefining Digital Banking with Migration Program
VietinBank is a pioneering Vietnam enterprise in digital transformation with a commitment to delivering customer-centric banking solutions. One of the strategic goals for the strong transformation includes migrating its entire application ecosystem to the cloud.
Taking a bold step forward, VietinBank launched the new iPay Web which is known as Vietnam's first fully cloud-native digital banking platform. This milestone represented a significant move in VietinBank's transformative journey and strengthened their position among Vietnamese banks.
Built on a modern cloud DevOps architecture, iPay Web integrates AWS native services which provide seamless, reliable, and scalable to its infrastructure. This auto-scaling system also included a world-standard multi-layer security architect and various automated monitoring systems to ensure a secure and pleasant experience for their customer.
iPay Web’s user-friendly interface offers a consistent experience across all devices and browsers. It supports diverse banking activities such as transactions, credit card management, scheduled payments, and shopping. With 41 new features and major upgrades to 33 existing ones, iPay Web redefines convenience and accessibility for Vietnamese customers.
With this achievement, VietinBank plans to further leverage AWS technologies to introduce new financial services, accelerating innovation and creating unparalleled customer experiences.
Improving Operations and Security with AWS
The successful launch of iPay marks just the beginning of VietinBank's ambitious digital transformation journey. To fully migrate its entire application ecosystem, including core banking and system applications, the bank requires a robust foundation that meets the most stringent standards for information security and data protection, safeguarding both customer and organizational data.
VietinBank has already implemented AWS Landing Zone and basic security services, but enhancing and strengthening its security and compliance framework is now a strategic priority.
Operational efficiency is another critical challenge. With a growing number of applications and workloads, VietinBank needs a standardized, scalable approach to efficiently monitor and manage its cloud operations.
Recognizing these needs, TechX, AWS’s leading partner in digital transformation, provided strategic guidance to leverage AWS native services. By utilizing those services, VietinBank achieved a 30% improvement in operational efficiency and significantly enhanced its security framework, setting the stage for continued innovation and growth.
Key Achievements
Centralized Monitoring for Operational Excellence
VietinBank implemented a fully managed monitoring service, for example, AWS CloudWatch, to collect and analyze logs, metrics, and events across its applications and infrastructure which supports monitoring usage patterns and making informed scaling decisions, leading to reduced operational costs.
Streamlined Communication
To enhance operational efficiency, VietinBank deployed a highly reliable messaging service, e.g. Amazon Simple Notification Service, to ensure faster response times for incident resolution, scalability, and reliability for distributing notifications, supporting VietinBank’s growing digital infrastructure.
Scalable and Efficient Integration
By adopting AWS native services, VietinBank optimized resource allocation, improved system scalability, and simplified the integration of monitoring tools into its existing infrastructure.
Enhanced Security and Compliance
Security remains a top priority for VietinBank. By leveraging AWS's advanced security solutions, it enabled VietinBank to strengthen data protection, mitigate risks of data breaches, and meet rigorous regulatory standards. This ensures both customer trust and compliance with Vietnam’s financial sector regulations.
Pioneering the Future of Banking in Vietnam
With its groundbreaking achievements, VietinBank continues to lead Vietnam’s financial sector into the future. As AWS expands its support for Vietnamese institutions, banks like VietinBank are empowered to innovate faster, improve operational efficiency, and deliver exceptional customer experiences.
VietinBank’s journey with AWS is a testament to the transformative potential of cloud solutions, setting the stage for the next wave of innovation in Vietnam’s banking industry.