The Orient Commercial Joint-Stock Bank (OCB) on Thursday in HCM City said that their investments in technology had grown strongly since 2016.
Du Xuan Vu, IT director of OCB, said the growth rate was 40 per cent per year, even higher than the bank’s growth.
Pouring money into technology is the most effective way to attract individual customers, especially in the digital era, he said.
The bank’s aim is to provide better services to customers.
OCB has announced many partnerships in technology development since the beginning of this year.
Bank officials noted on Thursday that it has successfully deployed the IBM Integrated Analytics System (IIAS), the first bank in Vietnam to do so.
The deployment marks the close cooperation between OCB and IBM in setting up a modern technology system that is safe and convenient for customers.
IIAS is is a unified hybrid data-management analytics solution providing massive parallel processing.
It comprises a high-performance hardware platform and optimised database query engine software that work together to support various data analysis and business-reporting capabilities.
It also permits OCB to send databases between different clouds, including public, private and hybrid clouds.
Eleven weeks after deploying the IIAS solution, the bank has been able to cut operation costs and reduce the time to report to only 30 minutes from the previous 180 minutes.
“OCB will continue to invest and develop digital products. We will keep studying and deploying new application,” Vu said, adding that the investment in technology will help OCB reach its goal of becoming the best commercial bank in Vietnam and the region. Established in 1996, OCB is the first bank in Vietnam to successfully reach international standards such as Basel II and OCB OMNI, a digital banking platform, for individuals and companies.