Core Banking Conversion Project for Lao-Viet Bank kicks off

On September 28, the core banking conversion project for Lao-Viet Bank (LVB) was launched in Vientiane, Laos, with FPT Information System (FPT IS) as the primary contractor.

•

04/10/2011

This is the first outsource project in Laos FPT IS participates as the primary contractor.

The launching ceremony was attended by representatives of FPT IS, Laos Viet Bank (LVB) and its co-founders namely Bank for Investment and Development of Vietnam (BIDV) and Banque Pour le Commerce Exterieur du Laos (BCEL), Oracle and all the project team.

LVB General Director Nguyen Kim Dieu said that this was a major project to meet the requirements for developing LVB's IT infrastructure and other complex details related to the business now and in the future. Mr. Dieu also committed to create the most favorable conditions for the project teams and provide supervision to ensure the success of the project.

FPT IS representative Mr. Bui Cong Nguyen said that the Core Banking Conversion Project for LVB is an important milestone for FPT IS in the Laos market. This is the first time FPT IS has been the primary contractor for an outsourcing project in Laos.

The contract for the LVB Core Banking Conversion includes both software and system integration. It was signed in the middle of August 2011 and is expected to be deployed within nine months, from early September 2011 to June 2012.