Details

1. Introduction

Digital Core Banking FINC is a modern Digital Core Banking solution that can be deployed on-premises or on a cloud computing platform, helping Banks and Financial Institutions build and provide specialized financial services on a large scale. This solution is a testament to TechPlus’s spirit of constant innovation to bring valuable products and increasingly quality services to customers.

2. Goals/Benefits

a. For Funds and Fund systems

• Modernize daily operations and improve labor productivity.
• Computational work takes place automatically and accurately.
• Statistical reporting is automatic, accurate, simple, and immediate.
• Minimize errors in the implementation process and data comparison.
• Ready to develop and apply new, advanced, modern functions and components, keeping up with technological trends.

b. For state management agencies

• Promoting the application of IT in state management agencies towards building e-Government.
• Improving state management capacity and quality in service provision: The project implementation also contributes to improving qualifications, skills and changing working methods and habits from manual and isolated to modern electronic and collaborative methods. Thereby, the qualifications and capacity of cadres, civil servants and members are improved in both thinking and working methods, contributing to improving state management capacity.
• Minimize redundancy in records, information, data requirements, increase reliability and accuracy of information: Project implementation helps minimize redundancy in records, information, data requirements, increase reliability and accuracy of information. Therefore, it helps relevant state management agencies to better control and minimize redundant requests for records.
• Contribute to the digital transformation revolution at the national level, as well as work related to projects towards digital finance and financial inclusion of the Government.

c. Product uniqueness

• Provide a toolkit to address issues of risk management capacity and technology platforms. This will serve as a basis for requesting the State Bank to grant licenses to expand the deployment of products and services and increase capital levels.
• Provide flexible products with multiple payment options
• Ability to deploy applications on the Cloud: Suitable for organizations that do not have an available infrastructure platform to deploy a core banking system; Save on operational deployment costs
• Is the basis for solving the problem of restricting deposit activities and providing payment services at non-bank credit institutions (according to the Law on Credit Institutions 2010)

d. Benefits

• Exploitation of better products and services
• Risk management
• Manual problem solving
• Improve personnel quality
• Improve service quality
• Brings many future benefits

3. Summary

Openbanking aims at positive changes to financial services: Freedom, flexibility, large numbers and wide scope of operations. Ensuring compliance with regulations of state and international management agencies.