Banking

Digital tools powered by the Internet have opened a new set of opportunities for business organizations and entrepreneurs across the globe. Financial transactions are now possible without physically operating from a bank location. With a highly secured, high-speed network, it is possible for the banks to maintain a centralized system that ensures seamless workflow of the frontend and the backend processes across its global branches. The online platform has opened new possibilities for all kinds of banking activities like debts, loans, payments, money transactions, investments and more. This has led to the growth of a whole new vertical in the financial sector called the Core Banking Solution (CBS) provider.

Pio-Tech, a Jordan-based Information Technology provider, was recently awarded the ‘Most Effective and Creative Banking Solutions Provider’ in Jordan 2021 by International Business Magazine. The company has reported years of experience in the banking sector. It has provided banks with opportunities and measures to tackle all kinds of threats.

Nipping transgression in the bud

Pio-Tech recently announced its partnership with Refinitiv to provide banking clients of both companies in the MENA region with more sophisticated contemporary solutions against money laundering. As per a press release from Pio-Tech, the new partnership integrates Refinitiv’s World-Check Risk Intelligence data and PioTech’s Anti Money Laundering (AML) solution to support online and offline working practices.

Speaking about the new partnership with Refinitiv, Pio-Tech guarantees that the new technology integration will benefit the financial institutions as they conduct ongoing screening for pre-existing clients and online screening on all activities, including through payment channels and on-boarding processes. It is also meant to help clients identify potential financial crime risk using information from reputable public domain sources.

AI-powered protection for genuine threats

Nothing hampers the integrity of a nation more than the threat of terrorist activities. Hence, it becomes imperative for the government to curb all kinds of activities that fund these activities. Pio-Tech has introduced ‘Bank-BI’, a performance acceleration platform and an Enterprise Banking Analytics solution. It integrates data from disparate systems into a unified internationally recognized banking data model. The platform is powered by Big Data, Machine

learning, Artificial Intelligence, and Predictive Models.

Capabilities of the Bank-BI platform

The Enterprise AML from Pio-Tech enables the banks to proactively sense suspicious transactions with high accuracy. This offers timely detection of such transactions for informed and effective decision-making. Such AI-powered tools combined with powerful machine learning algorithms helps to mitigate and analyze suspicious scenarios. It offers full automation and less human intervention. It is a unified data management platform with online monitoring modes and integration with SWIFT, RTGS and ACH systems.

These modern day tools are reported to be so powerful that it enables visually-depicted analysis of the most minutest level of data. It not only reduces human errors, but also minimizes the chances of false positives. These AI and Machine Learning technologies can accurately detect any money laundering activities and report about it at the earliest.

Empowering law abiding enterprises

With each new elected government and with each new disruption, be it technological or circumstantial, comes the announcement of amendments in the existing complacency laws. Organizations invest a lot of resources in restructuring their existing setups to meet the new regulations. Core Banking Solution providers are required to be agile to meet these ever-changing demands in the banking sector. compliance’. The platform ensures that its clients are fully compliant with the existing as well as the new regulations. The digital platform is said to guarantee an automated process for protecting the banks from incurring unforeseen penalties from regulators and central banks. Thus, it helps avoid unwanted losses. It could be said that platforms like these are able to improve ROI and promote performance enhancement across all business areas.

In September 2020, Capital Bank of Jordan deployed Bank-Bi onto its system. This enabled it to build a single source of information, streamline the information sharing and delivery across various departments and comply with the regulatory requirements. The bank has reported that the new platform has allowed it to automatically generate various reports with minimum efforts and high accuracy.

There is a common saying that goes as. ‘The Best Banker is also the best Secret-keeper’. In this modern digital world, customer data is even more critical. The best safety measures would boost the morale of the investors, which would further boost the entrepreneurial spirit of the common masses. A well-customized software solution, as showcased by Pio-Tech would not only help avert suspicious financial transactions but would also protect the financial institutions from dynamic political scenarios.

Nam A Bank launches Open Banking 2.0, offering a wide array of preeminent features via modern, distinctive interface bringing high quality services and one-of-akind customer experiences. Apart from fast, safe and secure online banking services such as NAPAS 24/7 Quick Fund Transfer via QR code, bank account registration with number of choice, eKYC, customers are provided with timely updates on market movement and stock indexes right on this app.

As the global economy accelerates its digital transformation, it will be difficult for Vietnamese banks to avoid falling behind in this inevitable trend in their race to the top. These institutions have invested in IT infrastructure in recent years to enable the introduction of new digital banking services and a portfolio of diverse financial products. The objective is to satisfy customers’ ever-increasing needs.Nam A Bank, believing that digital transformation is critical to business success, has made tremendous strides in digitizing its governance and operations in order to provide an exceptional customer experience through a diverse portfolio of products and services.

In particular, Nam A Bank strives to upgrade Open Baking, a centerpiece in its

technology ecosystem, to ensure new and optimal solutions for customers. In Nam A Bank’s Open Banking, customers are provided with the latest technologies enabling fast transactions regardless of time and venue, with plenty of integrated services such as bill payment, mobile top-up, funds transfer, bank appointment scheduling, virtual assistants (Chatbot), among others. The motto “One touch for every experience” has driven Nam A’s continuous improvement of the application, culminating in the launch of Open Banking 2.0, which includes numerous advancements aimed at improving the customer experience.

Let’s take NAPAS 24/7 Quick Fund Transfer via QR code as an example. This feature on Open Banking ensures superfast transfer in a safe and secure manner by just a quick QR code scan. Other in-app features receiving positive customer feedback include gifting and self-service registration with fancy numbers. Customers can select their own account numbers, as well as a phone or identification number if necessary. Even more, they can think of a 9-digit account that may represent prosperity or fortune such as 999888999; 666888999; 777888999; 888666888; 789789789; 123123123, etc. Not only are these digits easily remembered, but they also convey a sense of class, good fortune, or wealth to their Owners.

For investors, Open Banking can provide real-time updates on market activity, stock indexes, and other financial metrics using transparent and precise data. This is also one of the activities consistent with Nam A Bank’s strategic orientation, which emphasizes investment, technology adoption, and digital transformation in order to create an end-to-end financial model.

Furthermore, customers are now just one touch away from all these convenient in-app services on Nam A Bank’s Open Banking, owing to the deployment of eKYC, which streamlines the registration process so that users can open their accounts remotely anytime without going to the physical bank. The new version of Open Banking with multiple advanced features aims to reduce face to face transactions. This helps ensure safety during the prolonged COVID-19 pandemic while realizing the goal of noncash payments of the Government and the State Bank of Vietnam. Nam A Bank’s brand is also recognized with other notable achievements, along with Open Banking, in its technology ecosystem. just a few, includes being the first bank to use robots in transaction service; the launch of Onebank enabling customers to make 24/7 transactions such as depositing or withdrawing cash, opening a savings account, etc., online instead of visiting a physical branch.

“Fast and unlimited access is a prerequisite to ensure both operational efficiency of the bank and customer contentment. Nam A Bank, hence, places digitalization at the heart of its operations. The continuous improvement and upgrade of Open Banking is one of the testaments to the Bank’s effort in successfully implementing this strategy, bringing optimal customer experience”, said a representative of Nam A Bank. Nam A Bank pioneers in disruptive I4.0 technologies such as artificial intelligence (AI), cloud computing, mobile payment, real-time transfer, and QR code payment. Nam A Bank is poised to make further advancements in digital governance and operations in the coming years, ensuring that its top-of-the-line products and services delight customers.

During 29 years of service (October 21, 1992 – October 21, 2021), Nam A Bank has made remarkable developments in terms of operational scale, quality and efficiency. This journey would not have been possible without the support of stakeholders to bring sustainable happiness to the community. Today’s achievements of Nam A Bank are, therefore, the tribute to the companionship, trust, and endorsement of customers, shareholders, and partners for the last 29 years.

Creating “Digital Happiness”

Syncing into the new wave of technology surging through all spheres of life, Nam A Bank is undergoing a tremendous digital transformation to timely provide end-to-end products and services, delivering happiness and success to customers. experience with Nam A Bank’s digital banking Nam A Bank made its mark on the financial and banking market as the first Vietnamese bank to use robots in transaction service. It also deployed the Onebank system, which enables customers to make 24/7 transactions such as depositing or withdrawing cash, opening a savings account, etc., without visiting the physical bank. Most notably, Nam A Bank launched a comprehensively updated Open Banking 2.0.

Accordingly, this app helps customers easily access a plethora of preeminent features via a modern interface, ensuring fast online banking transactions anytime, anywhere in a safe and secure manner. In addition, Nam A Banks strives to upgrade its technology ecosystem, comprising Open Banking, Robot OPBA, and Onebank, towards the goal of maximizing exceptional customer experience via its financial products and services.

Nam A Bank’s proactive approach in technology investment not only ensures fast, safe and convenient transactions for customers but also helps to reduce operating costs, increase transparency and boost the performance of the Bank.

Sharing Happiness

The 29-year journey of development has witnessed Nam A Bank’s relentless effort in raising the bar, preserving and promoting the tradition of affection, bringing happiness to millions of disadvantaged lives.

Nam A Bank supports the program “Golden apricot blossoms of Care” (Mai vang Nhan ai) initiated by Nguoi Lao Dong newspaper by offering financial aid to artists and theater workers in difficult circum-

Nam A Bank, whose mission is to ensure business growth in tandem with social responsibility, is one of the banks that proactively contributes to social welfare programs, including “Paving the way to school, lighting up the future” for the students; “Loving Tet” with thousands of gifts for people in flood-hit areas, places with poor living conditions; Nam A Bank’s Red day on its annual anniversary with thousands of donated blood units, promptly saving lives of thousands of patients; Nam A Bank is also a strategic partner of “Employee Newspaper” in the implementation of many meaningful programs such as “One million national flags for fishermen going out to sea”, Golder apricot blossom (Mai Vang) award, etc. Mai Vang award witnessed Nam A Bank assist Employee Newspaper newspaper with the award ceremony and in other activities, typically the program “Golden apricot blossom of Care” providing financial support for hundreds of artists and students from underprivileged circumstances.

In the last two years, amid the outbreak of COVID-19, Nam A Bank has implemented a series of meaningful activities to support the nationwide fight against the pandemic, contributing to Vietnam Fund for Vaccination and Prevention of COVID-19, and presenting medical equipment to Ho Chi Minh City’s Vietnam Fatherland Front Committee and the Department of Health.

Happy workplace

Alongside the efforts to bring happiness to customers and the community, Nam A Bank always perceives human resources as an invaluable asset and a core driving force of the Bank. Friendly and modern workplace at Nam A Bank.

Nam A Bank places a premium on developing competent employees with strong work ethics in order to instill distinctive values consistent with its new development stage and corporate culture. As a result, the Bank was named one of HR Asia Magazine’s Best Companies to Work For in 2021.

In addition, Nam A Bank’s leaderships also pay great attention to compensation policies, as well as foster a friendly and professional working environment upholding solidarity to retain talents and attract experienced personnel.Recently, the Covid-19 epidemic has significantly affected the economy, and the banking system is no exception. However, Nam A Bank’s leadership went the extra mile to maintain operation and keep revenue flowing. At the same time, the Bank also proactively adopted preventive policies to ensure employees’ health and safety, as well as stable income, thereby putting their minds at ease during the pandemic.

With the Board of Directors by their side and detailed guidance from the Board of Management, as well as innovation – creativity – enthusiasm of successive generations of employees, Nam A Bank is confident to achieve sustainability, thereby strengthening its prestigious brand in the banking and financial market and contributing to the country’s sustainable development.

Recognition of the society and community

Nam A Bank has received numerous prestigious awards, owing to the positive results achieved through its operational stability and digital acceleration in parallel with social contribution. The list of honors includes the 6th consecutive Strong Brand Award by Vietnam Economic Review, Best Companies to work for in 2021 by HR Asia Awards Magazine; Top Famous Brands in Vietnam by the Vietnam Intellectual Property Association, among others.

NAM A Bank Supports The Vietnam Fund for Vaccination and Prevention of Covid-19

Nam A Bank donated VND5 billion at the Launching ceremony of the Vietnam Fund for Vaccination and Prevention of COVID-19 on the evening of June 6, as an effort in assisting the country in the fight against COVID-19.

Representatives of Nam A Bank donated VND5 billion to the Vietnam Fund for Vaccination and Prevention of COVID-19. Numerous support activities are now being carried out to mitigate the impacts of the complicated COVID-19. Contributing to this fight, Nam A Bank proactively organized meaningful and practical aid campaigns to foster the Government’s dual goals of “preventing the pandemic and sustaining people’s livelihood”.

In addition to financial assistance at the Launching Ceremony of the Vietnam Fund for Vaccination and Prevention of COVID-19, Nam A Bank has implemented a wide range of campaigns to support Ho Chi Minh City and the country, thereby containing the outbreaks and contributing to the sustainable development of the country.

A representative of Nam A Bank said: “Acknowledging that the pandemic is nowhere near its end, Nam A Bank will continue to offer our help to the nationwide combat against COVID-19 by implementing key campaigns. We believe that these practical activities, which underpins the value of cohesiveness and sharing, will resonate with our employees, shareholders, partners, and customers.”Nam A Bank had previously donated VND5.3 billion to Ho Chi Minh City’s Vietnam Fatherland Front Committee and Department of Health for the purchase of medical equipment during COVID-19; Assisting Saigon Economic Times in delivering essentials and pandemic protection items to border guards. In the first half of 2021, Nam A Bank spent nearly VND6 billion to get employees vaccinated.

This aimed to safeguard the health and safety of staff as well as maintain normal operation, thereby ensuring safe branches for customers.

The Covid-19 pandemic has made employees across the globe introspect on the quality of life they are living and are able to offer to their families. What began as a forethought during the economic slump of 2018 became a motivating factor with the advent of the pandemic. Today, the world is in the midst of what is being termed as the ‘Great Resignation’. As per a Mckinsey report, more than

19 million US workers have quit their jobs since April 2021. This explosive attrition rate has hurt every industry.

Organizations that have realised the talent drain have taken up various initiatives to retain them, with financial perks being the most common and the obvious one. However, it seems that no amount of financial perks or lifestyle enhancing gift coupons or entertainment facilities in the premises are stopping the rising number of resignations.

However, on the brighter side of things, there are a few innovative organizations that have clocked record performances and kept their employees content at the same time. All this, while tackling the challenges posed by the pandemic. One such organization that garnered some great reputation in the industry and among its employees is Everest Engineering. Craig Brown, the CEO of the software company based in India, shared some insights with us on how he looks to maintain a great work environment at the company.

What are the measures taken at Everest Engineering to deliver sustainable software solutions?

It comes back to that ecosystem. We have four promises to nourish that ecosystem. A promise to our customers, and a promise to the community. Nested in those headings, there’s feedback loops. It’s all about having empathy for others, understanding each other and our customers to do our best work. We need to have purpose about why we are coming together, and if we don’t know how we’re making a difference then we need to stop and ask why. Fostering a strong sense of community is important, as we perform best when we know we have the support of other people. Leadership is everyone’s job so we always take the time to make sure others are supported and connected.

We believe it’s important to support others to make them successful, and that this is the fastest way to build high-performing teams. By being accountable, we can take on more trust and autonomy and make more ambitious contributions.

Do share some of your experiences in regard to the challenges that some of your colleagues are facing with the new work model.

People want to be growing and learning in their job, they want to be able to apply that knowledge the way it makes sense to them, and they want to see that their work has an impact on the world. At every step, feedback and the ability to act on that feedback matters.

Paying attention to what motivates people is even more important when you’re in an industry where it is hard to hire smart, talented people – for example the software industry. If you don’t give people the latitude to make decisions based on their experience and the insights they have about the challenges they are addressing, they’ll simply leave.

Great management is the key to success in truly high-performing organisations. Great managers shape an environment that enables teams to do great work. That can include making space, setting directions, providing guidance or information, but at the end of the day, most decisions about what work needs to be done are