Vietnamese bank enhances financial performance reporting with Oracle solutions

Vietnam International Commercial Joint Stock Bank (VIB) is enhancing its data analysis capabilities via a deal with Oracle.

VIB has implemented Oracle Business Intelligence Foundation Suite and Oracle Exalytics In-Memory Machine for its financial performance reporting.

With 3300 employees in 160 branches in 27 key provinces across the country, VIB needed to enhance the existing BI and MIS capability with a modern and advanced analytics system that could efficiently provide accurate data analysis for better business decisions and operations.

“For our growing business, the huge amount of data that need to be analysed each day is a challenge for us. These data contain important information about market trends, customer demands, banking operations and competition health. We see the urgent need for the most advanced data analytics and reporting system. We reviewed the leading vendors and their products and selected Oracle Business Intelligence Foundation Suite and Oracle Exalytics as, in our opinion, it will have a huge impact on the way we operate,” said Luu Danh Duc, chief information officer, VIB.

VIB expects the new venture to improve its multidimensional data analysis, data consolidation and quality of reporting. The Foundation Suite will give VIB the ability to collect, sort and read both customer and business analytics at a much quicker rate than doing its own on-site analysis.

“VIB is one of the leading commercial banks in Vietnam and Oracle is delighted to be a key solution provider of its Analytics requirements,” said Francis Han, general manager, business analytics, Oracle ASEAN. “With Oracle Business Intelligence Foundation Suite and Oracle Exalytics, the management team will have quick access to quality information. These insights will enable faster and more effective decision-making that will help take the business forward.”