HD Bank, Thought Machine partner to transform banking in Vietnam

Vietnam – Vietnam’s banking and financial services provider, HD Bank, has announced its strategic partnership with Thought Machine, the UK-headquartered core banking technology company, aimed at deploying modern technology as part of its transformation programme, starting with its core platforms and internal workflows. 

HD Bank said that it has selected Thought Machine for collaboration due to its unique flexibility and control which will enable the bank to both migrate existing systems and design highly innovative financial products and services at scale.

The partnership will see HD Bank implementing Thought Machine’s core banking platform Vault to reinvent the financial services ecosystem in Vietnam, and accelerate financial inclusion across the country.

Pham Quoc Thanh, HD Bank’s CEO, shared that there is a clear need in the Vietnamese market for financial services which are real-time, always-on and forever adapting to the customers’ needs.

“With Thought Machine, we intend to fill this gap and push digital banking innovation in unexpected ways. We are proud to be joining forces with Thought Machine as they have built a product that is transforming the industry,” said Thanh.

Meanwhile, Nick Wilde, Thought Machine’s managing director for APAC, noted that their clients are unlocking incredible gains in innovation and efficiency as they combine advanced technology with clear vision. 

“HD Bank joins a rapidly expanding family of clients who can leverage the advanced capabilities and products available with Vault to redefine the future of banking. We are looking forward to working with HD Bank in their mission to significantly improve financial services in Vietnam,” said Wilde.