Introduction to Military Commercial Joint Stock Bank (MBBank)
Military Commercial Joint Stock Bank (MBBank) is a commercial bank under the Ministry of Defense, established in 1994 with a charter capital of 7.3 trillion Vietnamese dong and an estimated total assets of around 69 trillion Vietnamese dong. It has over 200 transaction points nationwide and 2 branches in Laos and Cambodia. MBBank has agency relationships with over 900 banks and financial institutions in more than 90 countries and territories worldwide.
In addition to banking services, MBBank is also involved in securities brokerage, fund management, and real estate business.
Project Challenges and Requirements
The four major challenges for the computerization project of operational processes at MB Bank are as follows:
1. Information systems and application software lack integration and information connectivity..
2. Manual and decentralized operating model between departments, branches, and headquarters.
3. Large volume of data records, particularly unstructured data, which makes storage and efficient management difficult for data exploration and utilization.
4. The majority of business processes (such as international money transfers and personal loans) are performed manually, lacking efficiency.
HPT's Solutions
To address the above-mentioned challenges at MBBank, HPT, along with its strategic partners, has provided consulting services and implemented a comprehensive solution package consisting of three main components:
HPT's Implementation Plan
Given the complexity of the project, HPT has opted for a phased implementation plan, outlined as follows:
Benefits Achieved
After over a year of implementation, with efforts from all parties involved, the project has been successful and has achieved the following results:
1. Resolving data management issues
- All bank records and documents have been digitized and stored in the centralized Documentum data repository.
- Data has been digitized and easily integrated with the BPM system, enabling seamless information flow between applications.
2. Addressing integration and linkage issues between applications
- The information system is ready for upgrades and the development of new features as MBBank expands its scale in the future. .
- Connecting all branches and transaction offices in a centralized management model.
3. Enhancing the efficiency of business processes
- Automating international and domestic money transfer processes, as well as personal lending processes. .
- Interactive reporting dashboards allow for monitoring and analyzing relevant KPIs
- Providing real-time, comprehensive information on process operations to evaluate process performance.