Many banks and financial services are starting or continuing their transition to a customer-centric model of doing business. To do this, companies are rigorously evaluating the right systems and processes needed to support their transformation. These new systems need to handle very large and variable workloads, with strong security and cost-efficiency. But it’s not a one-size-fits-all solution. Companies need systems that can deliver great performance, stability, availability, and can scale with their demands.
Banking reimagined with IBM
Techcombank, one of Vietnam’s leading commercial banks, was looking for a system that could help them build a bold new approach to banking. Vietnam ranks as one of the fastest-growing economies in Southeast Asia, with a large and growing middle and upper income population. Still, financial inclusion remains low, as 65 percent of the adult population in Vietnam does not have a bank account. To attract this massive potential customer segment, Techcombank knew they had to go further than simply offering traditional products and services; they needed a differentiated banking experience that fit modern customer needs and lifestyles. To achieve this, Techcombank needed to not only transform its IT infrastructure, but they needed the new infrastructure to change the mindset of their IT department, including how they thought about and worked with technology.
Techcombank implemented two IBM LinuxONE Emperor II servers, running Red Hat Enterprise Linux. The bank then started the ongoing process of migrating its Temenos core banking systems, the supporting databases, and other production workloads to the new platform. Moving their core banking and other Tier-1 systems to IBM LinuxONE is expected to reduce total cost of ownership by around 44 percent. In addition, Techcombank improved their capacity to absorb dynamic workloads without compromising on normal production performance as transaction increased to four times their normal daily levels. Techcombank was also able to significantly shorten batch processing times from eight hours to five and a half hours. This 30 percent improvement made the data more readily available for reporting, empowering business users with the up-to-date figures they needed to make sound decisions.