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Mr. Phan Dao Vu First Deputy General Director Indovina Bank Ltd, Vietnam
Indovina Bank
Vietnams first joint venture bank Joint venture between Industrial and Commercial Bank of Vietnam (ICBV) and Cathay United Bank (CUB), Taiwan
GROWTH IN BUSINESS
TOTAL ASSETS GROWTH 2001 - 2005
5000 4000
VND MILLIONS
2000
1000 0
2001
2002
2003
2004
2005
3500 3000
VND MILLIONS
3200 2816
2144
2003
2004
2005
2001
2002
2003
2004
2005
VND 96000
VND MILLIONS
VND 75440
VND 48224
2001
2002
2003
2004
2005
Challenges anticipated
Strong Project Team Internal user resistance Aggressive timeline Conversion issues Change management
Key Learnings
Setting up the right project team Focus on modules with high volume transactions Having an overall view on the service/ product to be offered before defining products Concise and focused training programmes
Complete automation of complex business processes such as LC, Discounting etc. Removal of all manual processes Much reduced margin of error Bank staff available for other activities
Future Plans
Increase the number of channels in the near future such as ATM, Internet Banking & Mobile Banking Launch new products based on the flexible options available Expansion in branch network
FLEXCUBEhasprovidedIndovinaBankanadvanced platformtosustainandfurtherourexponentialgrowth
Thank you