The cooperation is expected to help address the objectives of increasing productivity, optimizing operating costs, creating excellent customer experiences, and developing new business models for local BFSI enterprises.

In recent years, there has been a drastic increase in internet and mobile banking users in Vietnam. The digital economy has promoted a fierce race among BFSI companies, which forces them to be better aware of the urgency of digital transformation. It is even more prevalent in the post-pandemic period. 

While performing the digital transformation, the BFSI industry faces numerous roadblocks such as time to market for new products and solutions, scarcity of skilled personnel, inability to achieve rapid scale, and the need for complying with the change of regulations.  

NTQ Solution and TCS have cooperated to help customers address these challenges and roadblocks. Through TCS BaNCS’ best-in-class products build on the Digital First, Cloud First philosophy and NTQ’s Vietnam market knowledge, client relationships, and systems integration expertise, BFSI enterprises in Vietnam will be provided with best-in-class solutions. 

TCS BaNCS is a proven product that offers wide coverage across the entire spectrum of Banking, Capital Markets, and Insurance, which has assisted financial institutions in structuring and delivering contextual, improved experiences to their customers. With the TCS BaNCS Marketplace, customers can access an open and enriched partner ecosystem to curate solutions of their choice. 

NTQ Solution, as a TCS BaNCS Channel Partner, will jointly build and develop services based on its extensive experience in developing digital transformation solutions targeting leading financial institutions in the region. 

“Technology is the key for BFSI businesses to catch up with sustainable development in today's digital economy and VUCA (volatility-uncertainty-complexity-ambiguity) world," said Mr. Pham Thai Son, NTQ Solution CEO. 

"With TCS as a companion, we will strengthen our high-quality products and services for the Vietnamese and regional markets, while developing new business models that meet world-class standards, assisting clients in solving the problem of optimizing operations and improving user experience," he said.

“Moreover, our target is that the total contract value in the BFSI field will reach $50 million in the next five years,” he added.

NTQ Solution is a global IT consulting, services and solutions company that helps enterprises from more than 20 countries transition seamlessly while overcoming risks. After 11 years of operation, NTQ Solution has nearly 1,000 employees working at its headquarters in Hanoi (Vietnam), and offices in Japan, South Korea, and Hong Kong. 

Toward "world-class" software solutions, NTQ Solution adheres to an innovative, scalable, and technology-agnostic approach that empowers its clients to transform their business and derive lasting business value. 

In its strategic industry – BFSI - NTQ Solution assisted global financial institutions, namely AIA Hong Kong, Mixcare, FwD, VHIS-AXA Hong Kong, Manulife, and MBAL..., to accelerate value in terms of cost reduction, operational optimization, delivering excellent customer experiences, and developing new business models.

TCS BaNCS offers universal financial solution designed to help financial services institutions enhance end customer experience, enabling them to embrace open and innovative technologies that embody true digital customer engagement. Deployed at more than 450 installations worldwide, it is the largest collection of components, enterprise and consumer apps for the financial industry made available through the cloud, helping firms become more agile and intelligent by leveraging the power of new and extended ecosystems. It includes functions for universal banking, core banking, payments, wealth management, forex and money markets, compliance, insurance, securities processing, custody, financial inclusion, Islamic banking and treasury operations.

Find out about NTQ Solution:

https://ntq.com.vn/?utm_source=vietnamnet&utm_medium=prarticle&utm_campaign=newsbooking

PV