As part of strengthening the use of data analytics and AI to drive business value, the Vietnam Prosperity Joint Stock Commercial Bank (VPBank) held a ceremony at its head office on June 5 to launch the Enterprise Data and Analytics (EDA) Division.

The EDA Division is established based on a restructuring of the Business Intelligence Competency Center (BICC) and the transfer of system ownership and management of enterprise data warehouses, compliance reporting systems, and data architecture from the IT Division, as well as the expansion of new functions in driving data strategy, innovation, governance, and leveraging data science and machine learning.

With this reorganization, the EDA Division comprises six functions: Data Platform, Data Governance, Business Intelligence (BI), Artificial Intelligence (AI), Data Strategy & Innovation, and Data Ecosystem.

Given the need to maximize the benefits that data brings to both the bank and its customers, VPBank established the BICC in 2013 as one of the pioneering business analysis centers in Vietnam. Within two years of establishment, VPBank was awarded the Best Enterprise Data Management Strategy by TDWI (The Data Warehousing Institute, in the US), in 2015 for its clear vision and effective data management implementation roadmap, which played an important role in business analysis and product development.

Building on this premise, the EDA Division will focus on developing the next-generation enterprise data platform, expanding coverage on data governance, and promoting the application of AI and machine learning while accelerating data transformation via cloud adoption. Beyond the enterprise, the EDA Division will expand its oversight on data strategy, architecture, and advanced analytics across subsidiaries in VPBank's ecosystem.

In terms of personnel, the EDA Division is to be led by Mr. Johnson Poh, Group Chief Data Officer and Board of Management Executive Member, supported by all current personnel of BICC. The division is expecting to speed up recruitment, strengthen innovation capacity, and implement the action plan, delineated in a three-year roadmap in laying people and platform foundations, strengthening processes, and delivering products.

In his opening speech at the ceremony, Mr. Poh emphasized that the EDA Division is charged with unifying the bank’s enterprise data strategy and reinforcing its endeavor in leveraging trusted data to drive business outcomes, underpinned by the key enablers of platform, people, process and products. It is envisioned that the transformation will streamline operating procedures, enhance economies of scale and facilitate a collaborative network across VPBank and its ecosystem.

The founding of the EDA Division is a big step in realizing VPBank’s focus in enhancing customer engagement and administrative efficiency while minimizing operational risks. The EDA Division, with a team of young, passionate and experienced staff, will seek to maximize the value from data to deliver better customer experiences and drive business growth, fueling VPBank’s efforts in becoming one of the Top 3 biggest banks in Vietnam and Top 100 biggest banks in Asia, while contributing to sustainable development and prosperity of the nation and the community.