As the pandemic affected the world economy, bankers faced a tough call. To juggle between providing reliable banking services and loan delinquencies, HSG had to overcome. The economic downturn during the pandemic and the bold move to enter new markets made the challenge even more arduous.
However, when the going gets tough, the tough get going and vice versa. HSG shifters to virtual marketing to increase the customer base and engage prospective clients on offering cutting-edge banking tech. We can proudly say we have over 50 overseas banks using our core banking system. But it’s only the tip of the iceberg to what we can accomplish with continuous innovation in providing Fintech solutions.
But HSG couldn’t do it alone. Forging partnerships to introduce next-generation core banking technologies to the retail and corporate sectors was a major driving force.
One of the major partners to come on board is BCEL, Laos’ largest bank. BCEL approached HSG to replace the legacy core banking system. It was the initial step into entering the Laos market, which is prime for digitalizing the existing banking system. We collaborated with our BCEL partners to launch core banking solution products for retail and corporate banking.
HSG collaborated efforts with BCEL bank yielded:
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A core banking system replacement
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Versatile banking products
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Powerful channel integrator that enables API for scalable growth
Another highly influential partner in our success in Laos is our global partner, Sysmatik IT solutions. The partnership formed in October 2021 chief aim was to introduce robust banking products that offer the end-user a more rewarding banking experience.
With the pandemic’s effects significantly economical, individuals and investors turned to banks for an olive branch to blunt the economic hardships. The administrative burden for legacy banking systems caused lags in service delivery. Our HSG customer-centric solutions improved end-to-end banking through the alliance and eased the administrative load through AI-based AML technology. The partnership has conferred significant benefits to Laotians, and efforts are underway to proliferate the success on a global scale.
In line with the aim of Asia, Europe, and then Africa, HSG Fintech solutions will continue to provide digital solutions through forming partnerships with the best-in-class regards digital banking. “We have a 100% success rate for our core banking system. Through each partnership, we always come out with a better understanding of the market, the way people adapt and communicate, and how we can refine our products and services to create a truly customer-centric experience that also boosts operational efficiency. Our end-to-end solutions take care of everything from our direct partners to their clients and their clients’ friends and families. This has created an entire ecosystem that we want to service and support through the road to digitalization,” said Sisi Yu, the general manager of HSG.