1. Strategies for a Successful Core Banking Implementation -    The roll out of FLEXCUBE at Indovina Bank, Vietnam
Mr. Phan Dao Vu
First Deputy General Director
Indovina Bank Ltd, Vietnam

2. Indovina Bank Vietnam’s first joint venture bank
Joint venture between Industrial and Commercial Bank of Vietnam (ICBV) and Cathay United Bank (CUB), Taiwan
This slide is to introduce Indovina Bank as a company, please add any other information about the bank which gives an idea about the size, nature and operations of the bank.

3. Indovina Bank - Business Areas
Loans – Foreign and Local currency
Deposits – Foreign and Local currency
Trade Finance
Remittances
Foreign Exchange
Money market
Investment
Card business
Correspondent Banking

4. GROWTH IN BUSINESS TOTAL ASSETS GROWTH 2001 - 2005
5000
4550
4000
3552
3216
3000
VND MILLIONS
1968
2000
1648
1000
2001
2002
2003
2004
2005

5. OUTSTANDING LOAN GROWTH 2001-2005
3200
2816
2144
VND MILLIONS
1616
1264

6. DEPOSIT GROWTH
500
1000
1500
2000
2500
3000
3500
4000
2001
2002
2003
2004
2005
992
1280
2368
2720
3300
VND MILLIONS

7. 2001 2002 2003 2004 2005 PROFIT GROWTH IN 2001 - 2005 VND MILLIONS

8. Need for a New Core Banking System
Develop capability to provide world class customer service
Establish global banking standards to prepare for WTO accession
Incorporate new generation banking technology for competitive advantage in the Vietnamese market
Incorporate bank-wide Risk Management practices
Develop a platform to enable multiple channel delivery

9. Selection of a core banking system
Evaluation of the solution providers
Track Record - prior implementation and support experience
Maturity – of the solution and the vendor.
Flexibility – ability to extend functionality and scalability
Support – speed and quality of support
Cost
Most important: Attitude

10. Why Indovina chose i-flex’s FLEXCUBE?
Maximum Functional Coverage
Unmatched Flexibility
Could be easily deployed across multiple entities
Based on Oracle Technology
Proven in Vietnam and globally
Add line on why i-flex straight forward and professional

11. Strategy for implementation
Phase wise implementation in line with bank’s plans
First pilot to go live in 3.5 months
Implementation with minimum customization
Ensure strict adherence to timelines
One of the fastest FLEXCUBE pilot implementations globally!!!

12. Challenges anticipated
Strong Project Team
Internal user resistance
Aggressive timeline
Conversion issues
Change management

13. Steps to a successful implementation
Create strong Internal Process Management
Evangelize Knowledge sharing and Training
Set Parameters based on the current requirements
Incorporate Rigorous Testing procedures
Flexibility to modify, change course
Data Conversion while ensuring Data Integrity
Parallel Run – The final confidence booster!
Go Live !

14. 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

15. Transformations with FLEXCUBE
Fully centralized data across the bank
Head Office has complete picture of branch activities
Head Office has a complete customer view centrally
Easier control and operational management
No technology staff and operations at the branch required
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

16. 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
FLEXCUBE has provided Indovina Bank an advanced platform to sustain and further our exponential growth…

17. Thank you