Pham Dong Anh, TP Bank deputy general director, Tran Le Quan, Fintek CEO, and Alexander Glazkov, president of Diasoft Systems, at the signing ceremony in Ha Noi on June 29. — VNS Photo.

HA NOI (Biz Hub) —  Tien Phong Bank signed a contract with Fintek Co., Ltd and its partner Diasoft Systems Ltd. on Wednesday for buying their loan origination and debt collection systems.

Speaking at the signing ceremony, Pham Dong Anh, TP Bank's deputy general director, said the loan origination system (LOS) would enable his bank to automate the various steps in processing loans, mainly for individual customers.

It would help create a solid foundation for all of the bank's credit activities, contributing to increased efficiency and quality of loan processing, and improving overall customer service operations, he said.

Other benefits would include increased labour productivity, reduced credit processing costs, effective management of operational and credit risk and improved transparency and safety, he added.

LOS is expected to help TP Bank achieve international standards in risk management.

Tran Le Quan, CEO of Fintek, which consults and deploys the technologies at banks, said the LOS and debt collection system are expected to be installed bank-wide by March next year.

Diasoft provides the two solutions. — VNS.