Vietnam's VPBank adapts Finastra's treasury solution to digitize operations
The Fusion Adopt program enables VPBank to trade higher volumes of treasury.
Fintech firm Finastra has digitized Vietnam Prosperity Joint Stock Commercial Bank’s (VPBank) treasury operations and separated it from its legacy core banking system, according to a press release.
VPBank has adapted Finastra’s Fusion Adopt implementation program, which reportedly enables banks to trade high volumes of treasury and support more complex derivatives, options, and structured trades.
“We also have ambitious plans for growth which our legacy core banking system could not support. Finastra’s modern, front-to-back treasury system has given us significant efficiency gains because we no longer need to manually execute treasury transactions, whilst we also benefit from greatly improved risk management capabilities,” said Pham Phu Khoi, head of financial markets division at VPBank..
The program is fully automated and, when integrated with Finastra’s core banking, lending and trading solutions, delivers impairment and credit risk modelling.