Tech group CMC to run BIDV’s Trade Finance software

Business News

Tech group CMC to run BIDV’s Trade Finance software

Friday, September 6,2019

AsemconnectVietnam - CMC Technology Corporation announced today, September 4, that it will operate and provide first-line support for the Trade Finance software recently installed at the Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) once it is put into service.

Earlier, BIDV and Surecomp, global leading providers of trade finance solutions for banks and corporate clients, signed a contract and kicked off plans to procure and apply Trade Finance software at the bank on September 3 in Hanoi.

CMC serves as a Surecomp subcontractor in applying trade finance solutions at BIDV.

The software will enable the bank to offer quick responses to meet clients’ demand for trade finance services and improve the bank’s competitive edge in quickly developing modern trade finance products.

The BIDV Trade Finance and corebanking software are the bank’s two largest projects, requiring approval from the State Bank of Vietnam before launch, according to Tran Phuong, vice general director of BIDV and head of the BIDV Trade Finance project management board.

Ho Thanh Tung, vice general director at CMC Technology Corporation, said that CMC plays an important role in the BIDV Trade Finance project as it will be in charge of transferring technology and providing technical support once the software is in operation.

Meanwhile, according to Surecomp Chairman Eyal Hareuveny, CMC’s selection as the technical regulator for the big-ticket software project of the local leading bank proves its technological capacity for supporting enterprises through digital transformation.

CMC is set to become a global tech group in the coming period, taking the lead in offering digital transformation services to companies around the world. It looks to earn US$1 billion in revenue by 2023.

Source: thesaigontimes.vn

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