Mitsuaki Shiogo, core-banking system implementation project director of Eximbank That is why the core-banking system is considered the nucleus of a bank’s information as well as other financial systems. The more effective the core banking system is, the more costs banks can save. Banks and financial institutions in Vietnam are in the process of upgrading or replacing their “core” system. Vietnam Export-Import Commercial Joint-Stock Bank (Eximbank), for instance has chosen the Infosys Finacle core-banking solution to replace its existing one. According to Mitsuaki Shiogo, core banking system implementation project director at Eximbank: “In the context of the robust development of information technology and growing demand for high-tech banking products and services among customers, Eximbank is required to select an appropriate technological solution for its own. Infosys’ Finacle core banking software solution has been chosen thanks to its … [Read more...] about Eximbank to apply infosys technology for enhanced risk management
Risk management banking
Swiss Embassy in Pakistan supports National Disaster Risk Management…
Under this agreement, the Swiss Agency for Development and Cooperation (SDC) will provide 1.5 million Swiss francs (equivalent to USD1.5 million) to the fund. In addition, the SDC will also provide technical assistance to the fund through the secondment of a Disaster Risk Finance Specialist.ADB has been working with the Government of Pakistan and other development partners to develop a financing window to reduce disasters risks and increase capacity of the government to deal with future challenges. The efforts resulted in the establishment of the multi-donor NDRMF with an initial contribution of $200 million to reduce socioeconomic and fiscal vulnerability to natural hazards.The agreement will support the NDRMF, recently established by the Government of Pakistan to finance investments in disaster risk reduction and preparedness that have high economic impact. (Photo: ADB)Pakistan remains a disaster-prone country with frequent floods and other disasters caused by climate change. In the … [Read more...] about Swiss Embassy in Pakistan supports National Disaster Risk Management…
Banks eye consumer finance
Viet Nam News HCM CITY – Several banks are keen to establish consumer finance arms to grab a bigger share of a market that is expected to reach VNĐ1,000 trillion (US$4.38 billion) by 2020 and grow at 29 per cent annually. At its annual general meeting last month Orient Commercial Bank tabled a plan to set up a finance company this year. Trịnh Văn Tuấn, its chairman, was quoted by Đầu tư Chứng khoán (Securities Investment) newspaper as saying the bank’s consumer credit business is expanding rapidly and so it needs an independent company to streamline the business and improve risk management. The lender plans to either establish a wholly-owned subsidiary with a charter capital of VNĐ500 billion ($22 million) or acquire at least 70 per cent in an existing finance company. Asia Commercial Bank (ACB) too plans to set up a financial company with a charter capital of VNĐ500 billion. News reports had suggested that … [Read more...] about Banks eye consumer finance
ANZ wins Best Trade Finance Bank in Vietnam
ANZ has been named “Best Trade Finance Bank in Vietnam” in The Asset’s Triple A Treasury, Trade, Supply Chain and Risk Management Awards 2018. Aseem Goyal, head of Transaction Banking at ANZ Greater Mekong Region Accordingly, ANZ, among other Asian corporates and banking institutions, have been recognised for executing the most effective and innovative treasury, cash management, capital and trade finance and risk management solutions in the region, by the Asset Triple A Treasury, Trade & Risk Management Awards. “We are pleased to be recognised for our efforts to support customers with trade and capital flows in the region through our extensive network of trade specialists combined with strong local insights,” said head of Transaction Banking at ANZ Greater Mekong Region Aseem Goyal. According to Goyal, Vietnam is playing an increasing role as the manufacturing hub of South East Asia, in turn attracting record breaking foreign … [Read more...] about ANZ wins Best Trade Finance Bank in Vietnam
Banks seek expats for leading roles
Vietnam’s finance and banking sector has attracted quite a number of foreigners to leading roles over the years. This trend is expected to continue, as foreign expertise and experience are in high demand for the sector’s development and expat incomes have become more competitive over the years. Foreign professionals are increasingly attracted to Vietnam’s banking sector by competitive salaries and benefits as well as by the opportunity to challenge themselves Foreign expertise in need Expats filling managerial roles in local commercial banks are not rare, with positions like chief risk officer at VPBank taken by Ukrainian Dmytro Kolechko and Chester Gorski working as chief technologies and operations officer at Techcombank. Up to one third of VPBank’s board of management members are foreigners. With state-owned Vietcombank appointing former HSBC Vietnam CEO Thomas Tobin its head of Retail Banking last year, things seem to turn further into foreign banking … [Read more...] about Banks seek expats for leading roles