BIDV and PwC Vietnam kick off project for IT transformation at BIDV

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The Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) and PricewaterhouseCoopers (Vietnam) Ltd. (PwC) joined hands to organize a kick-off ceremony for implementing the Project for “Consulting Services for Information Technology (IT) System Assessment and Transformation at BIDV” on 5 July 2013 in Hanoi.

Accordingly, PwC will investigate and assess the current status of the core IT system of BIDV for meeting the Bank’s business strategies at present and in future, as well as the requirements from BIDV Board of Management. On the basis of assessment of the current status of BIDV’s IT system, development trends, and IT applications in the world’s finance and banking sector, PwC will coordinate with BIDV to develop proper objectives, strategies, a roadmap and an action plan for BIDV’s IT system transformation.

BIDV’s goals include: Transforming and upgrading the entire IT system of BIDV in a comprehensive and scientific manner; Enabling BIDV to manage complex operations and improve risk management; Standardizing the operation process within different locations (country, region, province, etc.); Standardizing business processes and better controlling business processes; Efficiently meeting regulatory requirements from international organizations, Vietnamese Government, Ministry of Finance, State Bank of Vietnam, etc. In addition, other important support objectives are also set out, including: Effectively implementing business growth strategy; Speeding up the process of market penetration and development; Improving productivity; Accelerating margin, etc.

Mr. Phan Duc Tu, General Director of BIDV, said: “BIDV determines that this is an important and complicated contract. As the only commercial bank in Vietnam to hold the first position in the Vietnam ICT Index list for the last 6 years, along with the existing preeminent IT system, BIDV expects the new Project will bring super advantages to the system in this technology era”.

Ms. Dinh Thi Quynh Van, General Director of PwC Vietnam, said: “PwC is clearly aware that this IT and & Core Banking System Transformation Project is very complicated and challenging due to the combination of multiple important operational functions, the implementation scale being large, and impacts on the organization structure and business model of the Bank being very large. PwC believes that, with the involvement of our richly experienced local and foreign experts, the Project will be a success”.

PwC is a network of professional service firms in 158 countries with over 180,000 people who are committed to delivering quality in assurance, tax, advisory and legal services. For nearly 20 years of operation and development, PwC Vietnam has continuously been one of the leading providers of professional financial services consulting such as assurance, tax, advisory and legal services. In finance and banking, PwC has provided services to over 30 banks operating in Vietnam.

For further details, please contact:

BIDV Project Management Unit
Ms. Tran Le Nhu
Tel.:  04 22205544, Ext.: 6696

PwC Vietnam
Ms. Vu Thi Thu Nguyet
Tel.: +84 4 3946 2246, Ext.: 4690