Bank for Investment and Development of Vietnam (BIDV) Open WayThe company partnered with payment technology provider to replace its existing card management and payment systems.
The initiative is an important step in BIDV’s comprehensive digital transformation strategy.
OpenWay’s Way4 digital payments software platform will be at the forefront of this upgrade, which aims to strengthen BIDV’s infrastructure and streamline operations.
The bank plans to overhaul its legacy systems, which are currently bogged down by fragmentation and the complexity of managing a variety of supporting applications.
By implementing the Way4 platform, BIDV aims to speed up new product launches, reduce operational costs, shorten development cycles and improve customer satisfaction.
The transition involves migrating millions of cardholders and modernizing thousands of ATMs and POS terminals across the bank’s network.
BIDV said it is focused on building a centralized payments system that supports an open architecture, extensive APIs and adaptable configurations.
Known for its robust online payment processing and digital-centric methodology, Way4’s technology will enable BIDV to increase operational flexibility and accelerate the introduction of new digital services.
Le Ngoc Lam
Mr Le Ngoc Lam, CEO of BIDV, said:
“Our investment in the new payment system is part of our commitment to becoming a fully digital, technology-based retail bank.
We value OpenWay’s capabilities and experience in the CMS market.”
Rudy Gunawan
Rudy Gunawan, Managing Director of Openway Asia, said:
“We are committed to ensuring the success of this project by employing some of the best experts in the region and globally, along with senior engineers with extensive migration experience.
Our knowledgeable team will support BIDV through each phase of the project, ensuring flawless execution and compliance with project requirements.”
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