VietinBank Insurance (VBI) and PwC Viet Nam signed an agreement on strategic IT consulting on Wednesday.

Accordingly, PwC will deploy a consulting package that includes modelling future IT systems, building a development plan, implementing advanced IT solutions in the next five years and evaluating the maturity level of IT security at VBI.

Through this project, PwC will assist VBI in developing a proper and feasible IT advancement plan to meet VBI’s future operation, strategy and development needs.

VBI is currently one of the few businesses in the market to develop electronic certificates and invoices for customers.

VBI has proposed a detailed strategic development plan over the 2017-20 period, which includes accelerating growth in the retail market, targeting IT-based SMEs and meeting international standards.

“We highly appreciate VBI’s initiative to invest in IT and data security systems to improve business operations and customer services.

This is particularly significant considering that emerging Fintech companies are taking up a larger market share in the finance, banking and insurance industries, even as cyber security becomes a major challenge, forcing organisations to change their mindset from incident response to proactive protection,” Dinh Thi Quynh Van, general director of PwC Viet Nam, said.

“With our in-depth knowledge of technology in finance and insurance, as well as experience from similar projects, we are committed to providing VBI with a comprehensive consulting service from strategic planning to implementation to deliver sustainable values to customers,” she added. — VNS