Sacombank launches the upgrading core banking system T24 to R17 version project


Sacombank officially launched the project that upgrades the core banking system T24 from R11 to R17 on June 7th 2018. The project was implemented by Temenos (Switzerland), will bring a breakthrough in the IT system's modernization strategies of Sacombank. The project will be planned to completed in September 2019.

The core banking T24 R17 is pioneered by Sacombank so far. The new system has modern features and technological breakthroughs that is appropriate for the digital banking's development.

Mr. Nguyen Xuan Vu, a member of Sacombank's Board of Directors cum Head of The Steering Committee, said that the technological modernization strategies is always the top priority of Sacombank. In the Vietnam finance market, Sacombank has always been a pioneer in the technological development and investment. The Steering Committee will focus all resources, creates the most favorable conditions for successful implementation of this project.

The T24 R17 system has been upgraded based on the new technology that is not only suitable with the technological development trend but also compatible with the advanced systems. Such version has many technical improvements, financial data's management functions and new features that enhance transaction process and risk management.

After the entire applying T24 R17, Sacombank will impressively increase the professionalism in operation and risks management, reduces maintenance costs, increases operational stability and business results. The new system also accelerates product development to meet the market demand and the diverse customer requirements; this output will improve Sacombank's competitive ability and sustainable development in the Vietnam financial market.

Temenos is established on 1993 at Switzerland, is one of the world's leading core banking solution providers with more than 3,000 global clients. Temenos has 41 clients in the world's top 50 banks with more than 500 million transactions daily.

Mr. Andrew Woodhouse, the Temenos' Regional Service Director said that: “Sacombank is currently the first bank in Vietnam to launch a T24 upgrade to R17, as the top priority in technological development strategies. Temenos is proud of a partner of Sacombank over 10 years in setting up T24 to subsequent upgrades. Temenos committed to appoint the most professional and experienced experts to implement the project”.


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