VIETNAM CHAMBER OF COMMERCE AND INDUSTRY
Liên Đoàn Thương Mại Và Công Nghiệp Việt Nam
Tue, Jul 09, 2024, 02:31:00
VIB is the first local bank to leverage AWS Skill Builder, strengthening and enhancing its cloud computing capabilities.
The move is part of VIB’s Cloud First strategy, which involves continued investment in employees' upskilling and reskilling, thus ensuring it meets commitments to providing a modern, safe, and convenient set of products and services with the best customer experiences. The integration means VIB's employees will have access to more than 600 free courses and learning plans that cover more than 30 AWS services from foundation to advanced levels. Employees can also access hands-on, interactive courses on how to innovate on AWS Cloud, including practical AI, machine learning, security, database, and storage concepts.
Eric Yeo, country general manager of AWS Vietnam, shared, “At AWS, we want to help equip organisations with the skills to leverage the cloud, by empowering learners of all levels to build with confidence, and innovate in the digital world to drive transformation. We are heartened by VIB's vision to invest in their employees, and delighted that VIB is the first local Vietnamese bank to implement AWS Skill Builder.”
Tran Nhat Minh, deputy CEO and head of VIB’s Digital Banking Division, stated, “Working with AWS on this training project, VIB has not only invested in developing a high-quality cloud computing workforce through specialised training programmes, but has also committed to providing modern, safe, and convenient products and services with the best customer experience, affirming VIB's leading position in technology.”
Incorporating AWS Skill Builder into VIB’s employee training programme is part of VIB’s strategy to enhance its human resource capabilities through four main pillars: (1) Focusing on high-quality international standard initiatives, including a modern training system operating on a SaaS platform; (2) Developing internationally standardised training programmes directly linked to work processes; (3) Enhancing digital transformation and cloud computing capabilities; (4) Achieving sustainable development based on superior management and operational tools, and an advanced organisational culture.
Since 2020, VIB has been transitioning its infrastructure and applications to the cloud and has seen great results, launching over 10 apps on AWS, with the number expected to exceed 30 apps – including core banking applications – over the next three years. Building on AWS Cloud has also helped VIB speed up product development by an average of 35 per cent, and improve cost savings by about 23 per cent. During this period, VIB has focused on partnering with leading technology firms worldwide to enhance the technological capabilities of its workforce, particularly through information sharing programmes and deep training on cloud and data management solutions. This important foundation laid by VIB at an early stage has facilitated the transition and application of cloud computing, equipping the technology team and the broader VIB staff with a digital mindset. This effort has delivered high-tech and leading trend products, solutions, and applications to customers, which have been highly appreciated and recognised by the market and reputable domestic and international organisations.
The banking industry is witnessing robust digital transformation, driven by the increasing demand for digital experiences from customers and the continuous advancement of technology. Embracing this trend, VIB has pioneered migrating core banking systems to the cloud, providing flexibility, innovation, and enhanced customer experiences.
With a vision “To be the most innovative and customer-centric bank in Vietnam”, VIB is focused on developing infrastructure based on AI-first, mobile-first and cloud-first models, continuously delivering innovative and convenient technology solutions to meet all customer needs and focusing on developing technological human resources. As a result, VIB has achieved strong growth and high digital transformation penetration rates.
Since 2017, VIB has maintained a high and sustainable growth rate in digital transactions, with the number of transactions each year nearly doubling the previous year for several consecutive years, reaching 340 million, corresponding to a transaction value of $111 billion, in 2023.
Of these, more than 94 per cent of retail transactions were conducted through digital channels, with millions of customers regularly using digital banking services each month. In 2023, VIB’s mobile banking application, MyVIB, was recognised by International Finance as the fastest-growing mobile banking application in Vietnam. In 2024, VIB is expected to achieve 510 million digital transactions, with a total transaction value of $150 billion.
The financial and banking market is becoming increasingly competitive, with most new products and technologies being quickly replicated by others. With its "3-first" digital banking strategy and pioneering multi-cloud platform in the banking market, a high-quality cloud computing workforce will be the next crucial factor helping VIB consolidate its top technology position, aiming to lead the market in key business areas and become the leading retail bank in Vietnam.
