Diasoft, a leading provider of cutting-edge financial software solutions, announced today that it has signed an agreement with TPBank of Vietnam for implementation of its modern FLEXTERA Loan Origination and FLEXTERA Debt Collection systems.

The contract for the FLEXTERA Loan Origination and FLEXTERA Debt Collection systems was completed and signed recently in Hanoi by Mr. Pham Dong Anh, Deputy CEO of TPBank, Mr. Tran Le Quan, CEO of Fintek (Diasoft's partner in Vietnam) and Mr. Sergey Metelskiy, Head of International Sales at Diasoft.

TPBank (TienPhong Commercial Joint Stock Bank) is one of the leading commercial banks in Vietnam, with over 1,3 million customers and total assets of around 83,200 billion VND. TPBank aims to provide its Customers and Partners with best-in-class financial products and services based on advanced, modern and highly efficient technologies.

In order to automate various steps of loan processing, mainly for personal loans, and create a solid foundation for all of the bank's debt collection activities, TPBank has selected two signature modules of Diasoft`s FLEXTERA Financial Architecture: FLEXTERA Debt Collection and FLEXTERA Loan Origination.

FLEXTERA Debt Collection is an innovative solution that helps financial institutions to automate operations related to debt collection, including customer relationship management, interaction with third party collection agencies, segmentation of debts, allocation of human resources and control over collection activities and reporting.

FLEXTERA Loan Origination (LOS) manages the overall loan origination process from taking and processing of a loan application up to loan disbursement. The system supports a broad range of credit products such as consumer loans, car loans, mortgages, credit cards, loans.

Diasoft's solutions will enable the bank to increase efficiency and quality of its loan origination and debt collection processes. Implementing this project, TPBank expects to improve the overall level of customer services, increase labor productivity and reduce the cost of loan processing. Moreover, the Bank expects to improve efficiency of its operations through adoption of international standards in risk management and establishment of effective operational and credit risk management processes.

Among the key project goals are the following:

·         Implementation of the highly flexible Loan Origination and Debt Collection Systems, meeting all of the Bank's business requirements;

·         Implementation of the efficient tool for automated detection and scoring of risks;

·         Decrease of the overall turnaround time through reduction of repetitive operations (such as repeated input of the same data, double checks of the same risk parameters, etc.) and paper work.

During the Signing Ceremony, Mr. Pham Dong Anh, Deputy CEO of TPBank, commented, "With the rapidly increasing number of retail customers, the LOS project is the tool to help TPBank minimize manual and paper work that the credit department of the Bank has to do on a daily basis. Thereby, this project will help us improve efficiency of the loan process, accelerate loan disbursement, enhance customer experience and increase business performance of TPBank's Loan LOB".

Mr. Alexander Glazkov, Chairman and CEO of Diasoft, stressed out that Diasoft was delighted to become a provider of software services for TPBank, one of the most technologically advanced banks in Vietnam. He also underlined that this project plays an important role in the company's strategy within Vietnam.

"We are proud of being selected by one of the leading commercial banks in Vietnam," commented Sergey Metelskiy, Head of International Sales at Diasoft, "We at Diasoft are happy to provide TPBank with a transparent, secure, efficient and sustainable platform that will support the development strategy of the Bank and help it provide its Customers with modern technology-based financial products and services."

Tran Le Quan, CEO of Fintek, the company that provides consultancy services and deploys technologies at banks, expressed desirable and enthusiasm to coordinate closely with TPBank to implement this project in order to achieve the highest efficiently result for it: “We hope to support TPBank in achieving the long-term strategic goals, bring the best service to get customer satisfaction”.