Transforming the core to create a future-ready banking ecosystem
BIDV uses FIS Profile core banking system to unlock stability, flexibility and scalabilityAt a glance
FIS Products
Objective
Transform the core banking system to become the financial institution with the leading digital platform in Vietnam.
Results
Achieved a higher STP rate and reduced time-to-market while minimizing downtime.
Impact
With the Profile core banking system, BIDV has:
- Reached an STP rate of 98%, the highest ever achieved for the bank.
- Developed a solid foundation to diversify its product portfolios.
- Completed conversion in 30 months, with only 16 hours of downtime.
Founded in 1957, the joint stock commercial Bank for Investment and Development of Vietnam (BIDV) is the oldest and largest bank in the Vietnamese credit institution system. Serving more than 22 million individuals and 500,000 businesses, it leads Vietnam’s banking sector. In 2024, BIDV’s pretax profit reached $1.1 billion.
The bank provides a full range of financial services, including retail, corporate banking, insurance and securities. Recognized as Vietnam’s best retail and SME bank by Fortune, Forbes and The Asian Banker, BIDV continues to drive financial innovation in the region.
Executing the vision
BIDV’s vision for 2030 is to become the financial institution with the best digital platform in Vietnam, leading in the Southeast Asian region and ranking among the top 100 largest commercial banks in Asia. To achieve this goal, the bank needed to modernize its technology foundation to drive agility, enhance customer value and secure its leadership position in Vietnam’s evolving financial landscape.
In September 2023, the go-live process of the FIS® Profile™ core banking system was executed according to a planned scenario and schedule, marking the success of BIDV’s largest IT project in the past 20 years. BIDV selected the Profile core banking system to meet several project objectives.
First, the bank wanted to transition to a modern, API-driven, account-centric core banking architecture that minimizes customer-facing service downtime during the replacement of core banking and payment systems. Modern platforms also help ensure the stability of the entire IT system after conversion.
Second, this approach enhances flexibility and scalability, and simplifies the quick delivery of products and services. BIDV standardized the architecture of hundreds of external applications by integrating with the Profile core banking system.
Third, FIS supports a codevelopment model, allowing BIDV to collaborate closely on the ongoing development of its core banking system.
Successes that BIDV has realized:
- BIDV’s payment platform utilizes rule-based engines, machine learning and ISO 20022 structured data to deliver exceptional speed and accuracy. This powerful combination enables an STP rate of 98%, the highest ever achieved.
- BIDV established a solid foundation for diversifying its product portfolios, reducing time-to-market from 12 months to four to six months.
- The conversion to the Profile core banking system was the largest IT project in the Vietnam banking industry, integrating 102 apps across 1,084 branches in 30 months – faster than the typical four-year timeline for banks of its size. During go-live, downtime was 16 hours instead of the usual three to four days, ensuring smoother online service delivery to customers.
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Marketplace
The Profile core banking system sets the foundation for effective money management.
Money at rest
Unlock seamless integration and human-centric digital experiences while ensuring efficiency, stability, and compliance as your business grows.
Money in motion
Unlock liquidity and flow of funds by synchronizing transactions, payment systems, and financial networks without compromising speed or security.
Money at work
Unlock a cohesive financial ecosystem and insights for strategic decisions to expand operations while optimizing performance.