FPT provide IT system for Deposit Insurance of Viet Nam

The agreement to install a new information and communications system for DIV called DG#1 forms part of the World Bank's Financial Sector Modernization and Information Management System project (FSMIMS) in Viet Nam.

FPT IS will implement DG # 1 within 22 months from December 2014 to October 2016.

FPT IS was highly appreciated in its experience and advanced technology solutions.

The agreement aims to design for the DIV a centralized information and communications platform connecting to the SBV database and develop application software to improve operational efficiency and a backup centre to ensure data security and continuous operations for DIV.

Joining DG # 1, in addition to the data conversion from the old system to the new one, FPT IS also help related parties with training activities to provide required knowledge, skills and methods to operate the system.

Authorities believe its success will strengthen the DIV's effectiveness in executing the Law on Deposit Insurance and protect depositors and make contribution to the sustainable development of the finance and banking system.

The objectives of the Financial Sector Modernization and Information Management System Project is to assist the State Bank of Vietnam (SBV), the Credit Information Center (CIC), and the Deposit Insurance of Vietnam(DIV) to improve the delivery of their main functions in accordance with relevant international standards for the banking sector, through developing a centralized and integrated system of advanced business processes and a modern information technology architecture; and strengthening their institutional capacity in carrying out their operations.