Finastra, a global provider of financial services software applications, has announced the implementation of its front-to-back treasury solution, Kondor, at Fortune Vietnam Joint Stock Commercial Bank (LPBank) to modernize the bank’s treasury management operations and capabilities. This strategic collaboration is part of LPBank’s concerted effort to accelerate its digital transformation strategy and enhance its competitiveness in the market.
Achieving deployment in just six months, the rapid timeline was achieved through an agile approach, flexibility, and a collaborative working relationship that facilitated a seamless integration of new systems with existing technology infrastructure and workflow processes. The initiation of the project was carefully designed to help LPBank meet the rising demands of managing more sophisticated treasury and liquidity products for clients, as well as supporting general risk management decisions across the bank.
Ho Nam Tien, Standing Deputy Chairman of LPBank said, “The successful deployment of this innovative project is testament to our deep commitment toward digital transformation and creating value for our customers. It also speaks volumes to Finastra’s technological expertise as a partner. While we are in the early phase of recognizing the full potential of this investment on our treasury operations, we have already seen steady improvements to trading volumes, transaction quality, and reduced transaction times. LPBank is well positioned to further advance its leadership position in Vietnam.”
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Finastra’s Treasury and Capital Markets business is built on a comprehensive platform of solutions that empower financial institutions like LPBank to achieve higher levels of efficiency, compliance, and growth across the trade and liquidity management lifecycle. Central to this current partnership is Finastra’s Kondor solution, which offers powerful risk analytics, trade processing, position management, and real-time risk coverage, enabling high-volume treasury trading while supporting complex derivatives, options, and structured transactions.
Richard Zhu said, “We are proud to be part of LPBank’s ambitious digitalization and modernization journey. In today’s landscape, digital transformation is a necessity for financial institutions hoping to keep pace with the shifting needs of customers and the rising pressures of competition and regulations. The ongoing support from LPBank’s senior leadership team was instrumental to the project’s success. It demonstrates an inspirational commitment to transforming the bank’s entire ecosystem with best-of-breed digital solutions which drive efficiency, sustainability and growth akin to Finastra’s Open Finance vision. This collaboration not only enhances LPBank’s operational capabilities but also sets a benchmark for innovation in the region.”
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Source – prnewswire
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