Misys gains new live site for FusionCapital in Vietnam, at Techcombank
Vietnam-based Techcombank has gone live with Misys’ FusionCapital software. The new platform – based on Misys’ FusionCapital Kondor product – supports treasury and capital markets (TCM) operations at the bank.
The deal was inked in November 2014.
Techcombank opted to work with Misys as it has offered “a configurable, fast and cost-effective analytics platform”, explains Phan Thanh Son, head of financial markets at Techcombank.
“We operate in a market that demands agility. We are required to make decisions on capital allocation in a timely manner, and at the same time, follow strict risk management processes,” he adds. “Our traders can now access their portfolios through FusionCapital and see all their positions in real time.”
The bank hopes that the new platform will help it to be proactive in the development of the Vietnam Government Bonds market and Vietnam Dong denominated interest rate derivatives.
On the core banking software side, Techcombank is a long-standing user of Temenos’ T24, and FusionCapital Kondor has been interfaced to this system.
The bank also uses the TranzWare payments solution from Compass Plus and some legacy components of the Smartbank back office system supplied by a local developer, FPT Information Systems.
As for the FusionCapital Kondor, the platform is well established in Vietnam (and most of the projects predate the Kondor acquisition by Misys in 2012). Customers here include Asia Commercial Bank, Bank for Investment and Development (BIDV) and Maritime Bank.