Temenos will update LPBank's systems for retail and corporate banking.

Temenos will update LPBank’s systems for retail and corporate banking.

2025-08-06

Through this, LPBank replaces its current system with Temenos’ technology platform, enabling the bank to better manage customer accounts and transactions across its retail and corporate activities. This upgrade improves performance and efficiency in managing these operations. Moreover, by adopting this new technology, the bank can develop tailored products faster while reducing costs.

LPBank and Temenos’ Goals

The retail and corporate banking solution offered by Temenos includes a range of capabilities such as lending and deposits, trade finance, foreign exchange, payments, data management, and virtual accounts. Additionally, the platform aims to enhance process automation, leading to reduced operational errors and improved risk management efficiency. It also supports digital transformation initiatives effectively.

By leveraging Temenos’ Vietnam Country Model Bank, LPBank can benefit from pre-configured banking capabilities that are tailored to the local market, facilitating faster and more cost-effective implementation of new systems. The bank gains access to a single code base developed by Temenos, which has experience working with over 3000 banks across 150 countries. This partnership strengthens Temenos’ position in Vietnam, where it now serves 24 banks including MB, MSB, Sacombank, VPBank, and Techcombank through its platform.

The new system is expected to provide a more integrated and simplified customer experience journey, fully digitized from the beginning of transactions to their completion. It also aims to help employees deliver improved services more efficiently.

Temenos’ Recent Developments

Switzerland-based banking software company Temenos offers its services to both large and small banks, non-banks, and fintechs along with their partners and developers. As of the data provided by the company, Temenos currently supports 1.2 billion individuals in conducting daily banking activities.

In a recent partnership, Aktia worked with Temenos to modernize payments using its Payments Hub, supporting the introduction of pan-European instant payment services and consolidating processing onto a single platform. This move is part of an overall strategy to enhance customer experience for both domestic and cross-border transactions while improving efficiency and meeting regulatory and compliance requirements.

In early October 2023, Temenos announced its cloud-native Correspondent Banking solution aimed at helping banks modernize their cross-border payment processes in the cloud. The service aims to facilitate faster additions of alternative payment rails using payment adaptors and a wide range of APIs.

Additionally, in September 2023, Temenos entered into a collaboration with IBM to integrate its payment capabilities into the IBM Cloud for Financial Services. Through this partnership, Temenos incorporated its Temenos Payments Hub into IBM’s solution, making it available across all IBM hybrid cloud infrastructure. Both companies aimed to enable coexistence of hybrid cloud platforms and provide banks the necessary tools for digitalization.