After 30-day successful transformation to the new Core Banking Profile, the new system has now secured a stable and smooth operation. Mr. Phan Thanh Hai – Senior Executive Vice President of BIDV, Head of Core Banking Project Management Unit - shared about critical milestones and great implication of Core Profile towards BIDV’s development and future plans.

The Core Banking transformation project is an important milestone and significant achievement of BIDV during the past 20 years since the last Core Banking transformation in 2003. The project has applied many special delivery approaches, with many “first” things ever.

Firstly, it must be mentioned that the project has been implemented in 30 months since the global outbreak of Covid-19 pandemic, leading to a highly adaptive and flexible approach.

Never before that such a complex technology project like Core Banking was mostly carried out online, including system diagnostic workshops and URD identification. But with unwavering determination of the whole system, the project has been delivered on time, safely and with high quality, especially without any change requests that would incur additional costs for the Project.

Next thing worth mentioning is the integration of 102 applications over 1,000 days. Core Banking is the heart of a bank’s information technology system. Replacing Core Banking means “changing your heart while still maintaining your heartbeat”.

To achieve this amidst various challenges, we have refined the connections, modified mid layer and external applications to ensure seamless integration with the new Core Banking. Our contractor and application providers, staff of business departments, technical staff of the Project Management Unit and Digital Banking Development Center have made great efforts to complete a huge workload.

The most encouraging achievement is that the actual downtime of BIDV’s e-banking applications is just 16 hours, which is the shortest downtime ever among Core Banking transformation projects of banks.

The Core Banking Profile system brings major and comprehensive changes to BIDV, especially in business direction, development strategy, product and service development mindset, organizational model, governance and management methods and operating procedures. The successful transformation of the Core Profile system opens a new chapter in BIDV’s development history, demonstrating the Bank’s confidence in mastering technology, innovation, improving service quality and strengthening the bank’s future position