Information technology and communications system (DG#1) for Deposit Insurance of Vietnam (DIV)

Customer & project background

Deposit Insurance of Vietnam (DIV) implemented a technology platform to support deposit insurance operations under the Financial Sector Modernization and Information Management System (FSMIMS) project – DIV Component Group, funded by the World Bank, with FPT IS serving as the implementation partner.

Results

After nearly two years of implementation and deployment of the DG#1 package, the entire system – including the primary data center, disaster recovery data center, and seven application systems – was successfully built, installed, tested, user-trained, and officially handed over following a strict quality management process supervised by international consulting firms NRI and PwC.

• The system established a critical foundation for DIV to effectively fulfill its operational functions in accordance with the Deposit Insurance Law, effective since 2013. As a result, DIV is better positioned to strengthen systemic risk management, enhance transparency across the banking system, minimize operational risks, and improve the protection of depositors’ rights and interests.
• By directly extracting insured deposit information from participating financial institutions, the system enables DIV to process accurate and timely payouts to depositors when required.

The platform also supports executive decision-making through integrated enterprise management solutions, including:

• Financial and accounting management systems
• Investment management
• Internal audit and control systems
• Human resource management
• Document management
• Nationwide video conferencing systems connecting the entire organization