In an era where cashless payments are becoming an essential part of daily life, technology capabilities and transaction processing infrastructure play a crucial role in ensuring the quality of banking services. Recognizing this trend, LPBank implemented a project to upgrade its card core system. The bank partnered with BPC Banking Technologies, leveraging the SmartVista platform, alongside card and payment organizations including Visa, Mastercard, JCB, UnionPay, and Napas.
After five months of completing phase one, the bank activated the new version of its card core system on 4/10. This upgrade aims to boost processing capacity, connectivity, and transaction security, while also establishing a foundation for the bank to develop new payment products and services.
The card core system serves as the backbone for processing transactions via ATMs, POS terminals, and online channels. According to the bank, the new version ensures more stable system operations and improves response times, especially during periods of high transaction volumes. The platform is also designed for scalability to accommodate increasing demand for services.
Security is prioritized alongside processing speed. The upgraded system meets the safety, security, and compliance requirements for ATM and POS transactions, adhering to Napas’s PCI PIN standard. Adopting this standard helps protect data and manage risks as customers use their cards.
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Dang Cong Hoan, deputy general director of LPBank (far right), discusses with the card core upgrade project team. Photo: LPBank |
Dang Cong Hoan, deputy general director of LPBank (far right), discusses with the card core upgrade project team. Photo: LPBank
With the new platform, LPBank has a stronger foundation to integrate services with digital systems and payment partners. It also allows for the phased rollout of new card features and programs. The practical impact of this upgrade will be evident in the system's stability, its capacity to handle transactions, and the services introduced in the coming period.
According to Dang Cong Hoan, deputy general director of LPBank, the results of phase one provide a basis for the bank to proceed with phase two. Phase two is expected to add nearly 50 features, solutions, and services to the card core platform. These enhancements aim to expand transaction options and meet the card usage needs of both individual and corporate customers.
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The upgraded card core system. Photo: LPBank |
The upgraded card core system. Photo: LPBank
The project is part of the bank’s long-term technology investment plan. Beyond payment infrastructure, LPBank has launched the LPBank Plus digital banking application, which integrates AI, and has deployed a customer relationship management (CRM) system along with other technology platforms.
Each system handles a specific function, from transaction processing and customer information management to supporting business operations. Simultaneous investment in these platforms enables the bank to develop services across various digital channels, aligning with increasingly diverse transaction demands.
A bank representative stated that the completion of phase one of the card core project marks a key milestone in LPBank's infrastructure investment roadmap. In the next phase, the bank will continue to develop payment services on the new platform, while maintaining high standards for security and operational quality.
Hoang Dan
