On April 18, 2017, in Hanoi, the Project Management Unit the Financial Sector Modernization and Information Management System project – FSMIMS of the State Bank of Vietnam (SBV) cooperated with contractor WINOMI to hold the launching ceremony of the new reporting system under the SG4 Contract Component “Data management, data warehouse and relevant applications of the SBV”. SBV Deputy Governor Nguyen Kim Anh attended and delivered a keynote speech at the ceremony.
The launching ceremony was also attended by Mr Park Sang Shik, Korean Consul General to Vietnam, Mr Alwaleed Altabani, Lead Financial Sector Specialist of WB Vietnam Office; representatives from SBV entities and contract implementation team of SG4; representatives of Korean governmental agencies in Vietnam including The Financial Supervisory Commission, Korea Trade-Investment Promotion Agency, Korea Business Development Center; representatives of foreign credit institutions and branches of foreign banks in Vietnam; contractors in the consortium VINOMI – Implementers of SG4, EY consulting company…
The SG4 contract component of Data management, data warehouse and relevant applications of the SBV will serve the entire banking system with more than 10 SBV Departments and state non-productive units and 63 municipal and provincial branches; 123 credit institutions with 2362 branches, 1179 Credit Funds and 3 micro financial institutions.
The main objective of the SG4 component is to build up a centralized, unified database on the basis of the advanced technology with the standardization of reporting formats inappropriate with international practices and the date design of credit institutions for core banking system in order to meet the requirements of directing, operating and supervising activities of the SBV.
After 2 years of implementation, the SG4 contract was successfully completed and has officially operated on January 1, 2017 to provide timely information for the SBV management board and entities to effectively make decisions, to regulate monetary policy and manage banking performances.
SBV Deputy Governor Nguyen Kim Anh at the Ceremony
Speaking at the launching ceremony, on behalf of the SBV management Board, Deputy Governor Nguyen Kim Anh acknowledged and highly appreciated the efforts of the SBV, the SG4 Team, the dedication and professionalism of Korean technicians in the SG4 Project. The Deputy Governor also thanked WB experts for their close support to the SBV in the progress of the banking modernization in general and the implementation of the FSMIMS Project in particular.
The Deputy Governor requested the Project Management Unit, the IT Department as well as the SBV entities to closely cooperate with the contractor Will Be Solution to continue completing and strengthening the reporting system, ensuring the technology transfer, and safe operations of the system.
Mr Park Sang Shik, Korean Consul General to Vietnam at the Ceremony
Speaking at the ceremony, Mr Park Sang Shik, Korean Consul General to Vietnam spoke highly the effort of two sides and the Joint name WICOMI in conduction the SG4 Contract component. The Consul General stated that the combination of Will Be Solution, NOA ats and Mitec Co., Ltd (Vietnam) in WINOMI consortium has been a successful model of effective collaboration that bringing about long term benefits for community. The completion of SG4 contract will open a new step for the cooperation in finance and informatics technology fields of the two countries.
Giang Nguyen