Vietnam’s LPBank partners with NGS & Finastra for treasury solution

By Gloria Methri

LPBank (Lien Viet Post Joint Stock Commercial Bank) has chosen Finastra and NGS Equipment and Communication Joint Stock Company (NGS) to modernize its treasury capabilities.

Finastra’s front-to-back treasury solution will help make the bank more competitive with increased operational efficiency and improved governance. The project will bring LPBank closer to its goal of digitalizing all capital activities and help it meet business and risk management requirements from across the bank.

Ho Nam Tien, Vice Chairman cum General Director of LPBank, said, “This agreement combines the technological strengths of Finastra, the strong local knowledge of NGS, and the spirit of innovation amongst LPBank’s Board of Directors. Finastra’s Kondor treasury solution will enable us to increase trading volume, improve transaction quality, shorten transaction operation time, and support the development of diversified demand for trading derivatives and more complex structured transactions.”

Richard Zhu, Managing Director, Capital Markets, Asia Pacific added, “We are proud to have been selected by LPBank to drive the modernization of its treasury capabilities with Finastra Kondor. With extensive experience working with hundreds of banks globally and in Vietnam, Finastra has built extensive Treasury and Capital Markets best practice knowledge. As we track ongoing changes in regulation and market practices, we will leverage our expertise to ensure LPBank benefits from modern treasury capabilities that evolve with requirements.

He added, “Our new partnership with NGS, which has a strong presence and experience in Vietnam, demonstrates Finastra’s commitment and increasing investment in the country. This partnership will help Finastra grow and make its Treasury and Capital Markets business even more competitive in Asia Pacific, as well as provide even better services and support to LPBank.”

Pham The Truong, Deputy General Director, NGS, said, “We are honoured to be trusted by LPBank and to be chosen as a partner to implement this project. NGS is committed to providing maximum support to LPBank to achieve its goals.”

LPBank’s deployment of Kondor is part of a series of key projects to help expand its services and get to the market faster, at a lower cost. These include transformation projects across core banking, data management, payments, and omnichannel banking.