Vietnamese Digital Bank TNEX Selects AWS for Its Cloud Servicesby Fintech News Vietnam March 8, 2021
TNEX, the digital banking arm of Vietnam Maritime Commercial Joint Stock Bank (MSB), announced that it has selected Amazon Web Services (AWS) as its preferred cloud provider.
MSB, one of Vietnam’s commercial banks, was said to have been built TNEX in ten months on AWS.
TNEX added that it can monitor and ensure compliance easily by tapping the scalability of AWS Cloud. The bank leveraged AWS’ broad and deep portfolio of cloud services including analytics, machine learning, and containers.
This will enable TNEX to develop better ways to serve customers by innovating and deploying new products faster, and to drive operational efficiencies.
Additionally, TNEX also uses Amazon Redshift, a cloud data warehouse, and Amazon Personalize, a service using machine learning technology to support personalised product recommendations allowing TNEX to aggregate data about its customers’ preferences to recommend unique customer offerings in real time.
TNEX also uses Amazon Elastic Container Service (ECS), a fully managed container orchestration service, to build its merchant platform using more than 30 microservices that support any application architecture.
TNEX said that it aims to provide banking services to approximately 60 million Vietnamese who have no or limited access to banking or financial services.
“Through the development of our platform on AWS, we gained the speed and agility needed to build a full-service merchant marketplace in six months and an SME and consumer digital bank in only 10 months.
By using AWS, we accelerated the delivery of the innovative financial services products that our customers have been asking for and the tools and services that our merchants require to grow their business in a digital and post COVID Vietnam,”
said Bryan Carroll, Chief Executive Officer of TNEX.
“TNEX is using AWS to build one of Vietnam’s first digital banks, setting a new standard for the delivery of an innovative banking and lifestyle ecosystem that offers proven security with a rich customer experience.
TNEX is tapping into the breadth and depth of AWS’s cloud services, including machine learning, to better understand customers and drive personalisation at scale.”
said Conor McNamara, Managing Director of ASEAN at AWS.