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RETAIL BANKING | Staff Reporter, Vietnam

VietinBank migrates all debit card transactions

This is to improve issuance for international and domestic debit and credit cards.

Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank) has announced the successful migration of all of its debit card transactions to the TranzWare suite of products from Compass Plus.

“Card migration to the TranzWare system has been implemented successfully through 2017. The migration not only helps to improve TranzWare’s card issuance for both international and domestic debit and credit cards but also helps to provide Vietinbank customers with a better experience when using our cards,” said Nguyen Thi Hong Gam, head of core banking application department, VietinBank IT centre. “After completion of this card migration, VietinBank is expecting faster growth of card products and services.”

“Migrating to TranzWare is another step towards providing VietinBank’s customers with the best possible card products and services,” said Igor Simonov, sales and account manager at Compass Plus. “We are proud to have worked alongside VietinBank for a number of years, and this migration marks a significant milestone in our partnership.”

VietinBank has collaborated with Compass Plus since 2009, using its TranzWare suite of solutions. Today, VietinBank has around 8 million cards issued that are supported by TranzWare, 4.6 million of which have come from the migration. The bank also operates around 2,000 ATMs and 40,000 POS terminals.

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