Open, Complete Banking in Vietnam

Asia Commercial Bank this week announced its agreement with Hanoi-based Thien Nam Information Technology Company, an international reseller of banking and financial processing systems. Thien Nam will be upgrading Asia’s core processing platform to the latest release of Open Solutions Inc.’s classically no-nonsensically named The Complete Banking Solution.

Open Solutions Inc., a provider of integrated enabling technologies for financial services providers, recently signed an international reseller partnership agreement with Thien Nam Information Technology Company.

Headquartered in Ho Chi Minh City, Vietnam, Asia Commercial Bank has more than $1.7 billion in assets, 84 branches and 658,000 customers. ACB originally converted to Open Solutions’ TCBS platform in 2001 through a private label reseller agreement.

Under the terms of the agreement, Thien Nam will offer Open Solutions products within Asia and will sublicense Open Solutions’ relational enterprise data processing solution and integrated ancillary products. Thien Nam will be responsible for implementing, customizing, localizing and supporting the products covered by this agreement.

In addition to The Complete Banking Solution data processing platform, Asia Commercial Bank will be implementing Open Solutions’ CRM business intelligence program cView, online banking, cash management, financial accounting solution, imaging, interactive voice response, loan origination and payment solutions.