Vietnam's TPBank uses solution from Indian provider, Nucleus Software

July  1 2021:  Vietnam’s Tien Phong Commercial Joint Stock Bank(TPBank),  will  use the  FinnOne Neo solution from Indian banking software leader, Nucleus Software.
TPBank aims to provide cutting edge digital solutions in consumer financing via TPFico. TPBank selected FinnOne Neo, to cater to the customer demands for minimal branch visits, easier self-service and simpler digital access.
With its extensive API stack, omni-channel capabilities and easy configurability, FinnOne Neo will enable TPFico to offer a unique digital first experience and instant approvals for consumer loans. The solution will allow TPFico to launch innovative loan products in minutes and automate processes end-to-end across the loan lifecycle. The market leading digital lending solution will help TPFico enhance the efficiencies of its loan acquisition team [Sales, credit, operations and product] and loan management team, minimize chances of fraud and reduce Non-Performing Loans (NPLs). With FinnOne Neo, TPFico will make faster, more comprehensive and data driven credit assessments by integrating with the wider ecosystem including the credit bureaus through APIs.
A study by Bain & Company, Google and Temasek Holdings Pte, entitled “Fulfilling Its Promise: The Future of  South East Asia’s Digital Financial Services” predicted revenue from digital financial services to reach $38 billion across Southeast Asia by 2025, with lending comprising half of that total. In Vietnam, digital payments gross transaction value will grow by 10%–13% CAGR until 2025 and the total amount of digital loans is expected to grow by more than 50% CAGR to 2025.
Says Dinh Van Chien, Deputy CEO cum Head of Retail Banking Division, TPBank:“Financial Institutions are looking at advanced digital technologies to cater to the fast evolving needs and behavioural traits of the younger generation. We aim to provide real-time, transparent and convenient financing to our customers and to support this aim, we chose FinnOne Neo from Nucleus Software. The solution enabled us to launch TPFico and grow our consumer finance business. We are committed to be the best in digital experience in Vietnam and we believe that a strong technology backbone is the key to achieve that”. 
 Adds Brajesh Khandelwal, VP and Global Head FinnOne Neo Business, Nucleus Software: “We are delighted to help TP Finance as it advances on its journey to deliver industry best digital experience to its consumer finance customers. We are confident that FinnOne Neo will provide TP Finance with the required impetus for growth and profitability. We have been supporting 40 leading financial services companies across South East Asia over the past decade. The financial services industry in Vietnam is moving ahead rapidly on the path of digital transformation and we are proud to be a part of this journey”. 
Tien Phong Commercial Joint Stock Bank (TPBank) was founded on May 5th 2008. TPBank inherits technological expertise and financial strength from its strategic shareholders including DOJI Gold & Gems Group, FPT Group, Vietnam National Reinsurance Corporation (Vinare), SBI Ven Holding Pte. Ltd (Singapore), IFC International Finance Company (under World Bank) and PYN Elite Fund.
Nucleus Software Exports Ltd. is a, publicly traded software product company that provides lending and transaction banking products to global financial leaders.