Hanoi Commercial Joint Stock Bank (SHB) has joined forces with Huawei Technology Group for its digital transformation.

The tie-up with Huawei forms part of its longer-term plan to use technology to support a model in which the bank connects resources and works alongside customer ecosystems in the digital economy.

Under the agreement, the two sides will work across three areas.

These are wider digitalisation and modernisation of banking operations; development of an open, flexible and future-ready technology structure; and stronger operational capacity with system stability, security and resilience.

Huawei will take on the role of strategic consulting partner, assisting SHB with its transformation roadmap, technology architecture, data platform and the rollout of technology solutions.

The company is expected to work with SHB on changes intended to support the development of a digital bank that is “modern, secure, flexible, and sustainable”, in line with international standards.

SHB said the arrangement is not limited to infrastructure changes.

Huawei is also expected to provide experience in large-scale technology architecture, data and cloud platforms, system management, and the gradual development of operations based on data, artificial intelligence and automation.

The bank said technology is one of its strategic pillars and that it is revising its operating model around the "5 FIRST" principles: Data + AI First, People First, Cloud First, Security First, and Mobile First.

In that framework, Data + AI First places data and AI at the centre of decision-making, including analysis of customer demand, behaviour forecasting, risk assessment and product personalisation.

People First means technology is intended to serve staff and customers and to build new capabilities for employees.

Cloud First is aimed at creating a flexible and scalable infrastructure. Security First treats system and data protection as a condition for trust and long-term development. Mobile First identifies mobile devices as the main contact point for digital banking.

SHB said it views customers as part of a broader ecosystem centred on the customer, rather than as separate entities.

Starting with a corporation or enterprise, the bank expands its products, services and solutions to member companies, suppliers, distributors, agents, partners, employees and end customers.

By 2035, SHB aims to become a modern retail bank, a green bank and a digital bank in the region.

SHB deputy general director and board of directors vice chairman Do Quang Vinh said: “We identify technology as the core driving force to enhance competitiveness, optimise operations, and increase customer experience. Through this cooperation, SHB not only promotes the comprehensive transformation of the bank but also contributes to promoting innovation, developing the digital economy, and accompanying the sustainable development of the country in the new era.”

"Vietnam’s SHB collaborates with Huawei for digital banking" was originally created and published by Retail Banker International, a GlobalData owned brand.

 

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