Press Releases
Saigonbank Selects SunGard’s Ambit Online Banking to Support Growth Strategy
January 13, 2010 — Singapore
Saigon Bank for Industry and Trade (Saigonbank), the first and one of the largest joint-stock banks in Vietnam, has selected SunGard’s Ambit Online Banking, part of the Ambit Enterprise Banking Suite of solutions (Ambit EBS), to support the provision of high quality, modern technology to its commercial and retail banking clients. Saigonbank has recently successfully deployed SunGard’s Ambit Core Banking solution as the backbone to support its entire banking business. The addition of Ambit Online Banking will further support the bank’s plans for domestic and international growth by helping it to offer clients a range of new online retail banking services such as account inquiry, funds transfers, bill payment, checkbook request and stop payment orders.
Saigonbank was formed in 1987. It has already experienced considerable growth by expanding its operational network to all the provinces in Vietnam and by focusing on supplying new services and products to its retail and small business clients. The bank has placed a special focus on improving its clients’ banking experience and supporting Vietnam’s growth in agriculture, forestry, handicraft and other local traditional industries. With increasing foreign competition, Saigonbank decided that by diversifying into more channels, it would be able to improve its client service and continue to support its growth initiatives.
Tran Thi Viet Anh, director general of Saigonbank, commented: “As a result of the implementation of SunGard’s Ambit Core Banking solution, Saigonbank experienced both performance and efficiency improvements. After evaluating a number of leading providers for online banking, we felt that SunGard’s demonstrated success with our core banking solution and its single, customer-centric platform would offer the best value to the bank and its customers.”
David Hamilton, president of SunGard’s banks business, commented: “Ambit EBS is a componentized solution that is able to consolidate retail banking operations across channels and provide a 360º view of a client’s relationship with the bank. Given the growth in the Vietnam economy, Saigonbank has a substantial market opportunity that is complicated by new foreign banking service providers now entering the country. By continuously striving to offer high quality products and services and adopting technologies to support these offerings, the bank is well positioned to retain its existing clients and grow its business with new clients.”
About Ambit
SunGard’s Ambit is a banking solution suite for retail, commercial and private banks. It provides banking professionals with solutions that support front-, middle- and back-office operations, as well as solutions for financial management, risk and compliance. Ambit helps banks improve customer service management, streamline business processes, comply with regulations and capture growth opportunities. For more information, visit www.sungard.com/ambit.
About SunGard
SunGard is one of the world’s leading software and IT services companies. SunGard serves more than 25,000 customers in more than 70 countries.
SunGard provides software and processing solutions for financial services, higher education and the public sector. SunGard also provides disaster recovery services, managed IT services, information availability consulting services and business continuity management software.
With annual revenue exceeding $5 billion, SunGard is ranked 435 on the Fortune 500 and is the largest privately held business software and services company on the Forbes list of private businesses. Based on information compiled by Datamonitor*, SunGard is the third largest provider of business applications software after Oracle and SAP. Continuity, Insurance & Risk has recognized SunGard as service provider of the year an unprecedented six times. For more information, please visit SunGard at www.sungard.com.
*January 2009 Technology Vendors Financial Database Tracker http://www.datamonitor.com
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