Vietnam’s FE Credit shifts mission-critical apps to AWS
Ramps up digital transformation efforts.
Kalidas Ghose (FE Credit) Credit: FE Credit
Vietnamese consumer finance firm FE Credit has migrated most of its mission-critical applications to Amazon Web Services (AWS) as part of an overarching digital transformation effort that will see it move the majority of its IT infrastructure to the cloud.
The move sees FE Credit, which was originally founded as the consumer finance division of the Vietnam Prosperity Joint-Stock Commercial Bank (VPBank) and subsequently spun out as a standalone subsidiary, accelerate its transformation to become a comprehensive digital consumer finance provider.
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Tokyo, April 29 (Jiji Press) Japan’s Sumitomo Mitsui Financial Group Inc. has announced a plan to take a 49 pct equity stake in top Vietnamese consumer lender VPBank Finance Co. as early as October.
Through the deal, estimated at 100 billion to 150 billion yen, the megabank group aims to strengthen its operations in the Asia market with strong growth potential.
According to Sumitomo Mitsui’s announcement Wednesday, VPBank Finance is a wholly owned subsidiary of Vietnam Prosperity Joint Stock Commercial Bank, a major lender in the Southeast Asian country.
VPBank Finance, which trades as FE Credit, controls about half of the country’s consumer finance market.
Press release content from Business Wire. The AP news staff was not involved in its creation.
NICE Real-Time Authentication Selected by VPBank to Safeguard Omnichannel Customer Interactions and Improve Experiences
April 27, 2021 GMT
HOBOKEN, N.J. (BUSINESS WIRE) Apr 27, 2021
NICE (Nasdaq: NICE) today announced that Vietnam Prosperity Joint-Stock Commercial Bank (VPBank) has selected NICE Real-Time Authentication (RTA) to enhance call security, prevent fraud and improve customer experiences. VPBank’s adoption of NICE’s self-service authentication for its interactive voice response (IVR) services will simplify contact center call system management and increase IVR containment, resulting in a reduction of interaction volume to live agents. This will empower VPBank to authenticate up to 10,000 customers a day in the IVR as well as reduce average handle time (AHT) by 20-30 seconds, boosting customer experiences on live agent calls.
Wednesday, 09:15, 24/02/2021
The Vietnam Prosperity Joint Stock Commercial Bank (VPBank) has jumped 37 spots to enter the Brand Finance’s top 250 in rankings of the world’s most valuable banks in 2021.
According to the Brand Finance Banking 500 2021 ranking, VPBank ranked 243rd in banking brand value this year.
Its brand value grew 41% to US$502 million this year from US$354 million in 2019. It also represents a nine-fold increase against 2016 when the bank’s brand value was first evaluated at US$56 million.
The 2021 ranking was calculated based on a brand’s market share, growth rate, property size, financial capacity, operating efficiency and prestige, said Lai Tien Manh from Brand Finance Vietnam.