The Orient Commercial Bank (OCB) on Thursday announced that it become one of the first banks in Viet Nam to apply software defined networking (SDN), a new technology standard expected to be widely used in the near future.
OCB is co-operating with Dell EMC Vietnam to run the solution, which is part of the bank’s campaign to strengthen investment in technology and offer better services to customers.
SDN is the first step in the bank’s Software Defined Everything campaign which aims to create a modern, safe and flexible operation system, according to OCB.
Launched in 2010, SDN technology is an approach to network management that enables dynamic, programmatically efficient network configuration in order to improve network performance and monitoring, making it more like cloud computing than traditional network management.
SDN will help companies, especially ones operating in the financial sector, have more effective operations and cut costs.
Thanks to its advantages, SDN is now being used by many companies.
Du Xuan Vu, IT director of OCB, said: “OCB sees that applying modern technology is an indispensable trend in the future. As part of the development roadmap beginning this year, the bank will continue to invest in digital technology to design more products and services developed with modern technology.”
“Applying SDN will help our bank cut costs and ensure high security. This is part of OCB’s commitment to our customers in bringing them a better service,” he said.
OCB was established in 1996. After 23 years of operation, the bank has designed many solutions targeting different customer segments. By 2020, OCB plans to become one of the best banks in Viet Nam supporting the retail sector as well as small and medium-sized enterprises.
The bank is one of the first banks in Viet Nam to have met all the standards of Basel II, and it has successfully applied OCB OMNI.
As of end of the first quarter of the year, the bank’s profit after tax was VND536 billion, representing 135 per cent of the bank’s plan. — VNS