BIDV is honored to receive the prestigious “Best Core Banking Technology Implementation in Vietnam 2024” award from The Asian Banker magazine. This recognition comes as BIDV becomes the first bank in the country to successfully apply and deploy the Delta method for Core Banking data migration.

Successfully implementing a large-scale Core Banking transformation project in just 30 months- on time and without any risks is a remarkable achievement. Projects of this magnitude typically take around four years to complete. This milestone represents a significant leap forward in BIDV's, technological capabilities.

The award was accepted by Mr. Truong Hong Quan, Director, and Mr. Bui Hoang Giang, Deputy Director of Core Banking Management and Development Board

BIDV is proud to be the first bank to successfully apply and deploy the Delta method for Core Banking data migration. The Delta migration solution implemented by BIDV helps reduce service downtime to a record-low 16 hours, the shortest time ever achieved for migrating Core Banking systems. This accomplishment solidifies BIDV’s position as a technology leadership and innovator. Additionally, the Delta migration solution also received  the esteemed Sao Khue 2024 award, making a significant milestone in the bank’s ongoing journey of technological innovation.

 These accolades underscore BIDV’s mastery of complex systems and reinforce the bank's technology strategy and commitment to digital transformation. These achievements not only highlight BIDV's current success but also position the bank for future advancements, paving the way for further expansion  both regionally and globally.

The successful implementation of the Core Banking system also led to the establishment of the Core Banking Management and Development Board on 15 November 2023. This board is dedicated to continuously enhancing the core banking system to optimize functionality, improve operations, and deliver significant benefits to BIDV's customers, employees, and the broader BIDV banking system.

Key highlights of BIDV’s Core Banking system implementation: Completed in 30 months Supported over 1,000 transaction points simultaneously. Migrated data for 18 million customers. Integrated 102 apps with the Core Profile Conducted 96,000 test cases Engaged over 24,000 personnel Partnered with 25 domestic and international organizations Completed 11 migration tests, 3 pilot runs and 4 rehearsals Achieved online service downtime of just 16 hours Moreover, BIDV's successful migration of Payment Hub system to the Core Banking Profile positions the bank as the first bank in Vietnam and among the top 30% of banks globally in implementing SWIFT according to ISO 20022 standards.