Home News & events Press Releases 2009 AgriBank holds ceremony to mark go-live of IT overhaul project sponsored by World Bank

 

agribankToday, 11th May 2009, AgriBank, Vietnam, is holding a ceremony to mark the go-live of its overall IT overhaul project sponsored by the World Bank. Part of this modernization upgrade is the successful deployment of a new international card switching and card management system on an integrated set of TranzWare applications from Compass Plus. This system has been fully implemented over a number of phases, with each phase delivering new functionalities previously unavailable with the incumbent legacy systems. As of today certain areas of the system have already in production for over a year.

The long-term goal of the project was to provide a single fully integrated financial switch, card issuing and acquiring system for all card types and card services that could also provide a range of added value functionalities e.g. ability to clear and settle for multiple financial institutions, a strong fraud detection and management capability and more. The project has also included a strong training and technology transfer component.

The initial project has involved online and file-based interfaces to the core banking system called IPCAS provided by Hyundai IT, integration to the newly established national EFT Switch BankNetVN, Issuer and Acquirer certification for VISA, and migration of AGRIBANK’s massive ATM network. This has all been achieved using a core set of TranzWare products which includes TranzWare Online, TranzWare CMS, TranzWare Card Factory and TranzWare Interchange completed in under 6 months.

Established in March, 1988, Vietnam Bank for Agriculture and Rural Development (AgriBank) has been a leading commercial bank playing a decisive and important role in capital investment in developing the agricultural and rural economy as well as in other fields of Vietnam’s economy. AgriBank is the largest bank in Vietnam in terms of capital, assets, staff, operating network and number of clients. In its consistent effort to excel and to lead the market, AgriBank attaches great importance to the continuous modernization of its technology infrastructure and the efficient application of latest banking technologies.
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