Sacombank Extends T24 to Retail and Corporate Banking Processes
Vietnamese bank Sacombank has extended its partnership with Temenos to support its retail and corporate banking processes. Temenos T24 will be rolled out across the bank’s 242 branches to integrate its operations across the enterprise to help meet its growth objectives. By 2013, T24 will be deployed in more than 400 regional and overseas branches to support over five million customer accounts and over a million transactions processed per day. Dang Van Thanh, chairman of Sacombank, said: “We have an aggressive growth plan to expand our business internationally. To achieve our target we need efficient product and service diversification and systems centralisation at a reduced cost of ownership. We recognised the need for a system that could not only support and integrate our existing operations, but has the scalability to support our increasing business volumes; T24 offers solutions that best meet our present requirements.” Sacombank has been using T24 since 2004, to support several areas of its business including general ledger, customer information system, deposit and credit products and services.