SmartOSC Facilitates OCB’s Launch of OMNI 4.0 App, Offering Instant Modern Financial Services in Just 6 Months with Backbase Engagement Banking Platform


Ho Chi Minh, 15 May, 2024 – SmartOSC, the premium digital enabler, announces the successful collaboration with Backbase, the global leader in Engagement Banking, and Orient Commercial Joint Stock Bank (OCB), one of Vietnam’s top private banks, to launch OCB’s OMNI 4.0 app.

The OCB OMNI 4.0 version offers modern and convenient digital banking services such as account opening and management, money transfers, bill payments, card services, deposits, loans, and many other outstanding features. With close cooperation from Backbase’s local implementation partner SmartOSC, this project was operational within just six months, positioning OCB as a leading bank in the current digital transformation race.

OCB OMNI 4.0 has set a new standard in the digital banking sector with features that meet the immediate satisfaction, speed, and convenience needs of Vietnamese consumers. During the initial deployment of OMNI 4.0, OCB migrated over 7,000 internal users to the new platform, receiving overwhelmingly positive feedback regarding its smoothness, speed, efficiency, and security.

“Vietnam is positioned as the fastest-growing digital economy in Southeast Asia. In this context, rapid market access to ensure high-quality interaction with customers is crucial for banks to gain priority in the market. I am delighted to officially launch OCB OMNI version 4.0 today with the efficient Backbase Engagement Banking Platform, maintaining our commitment to operational readiness within 6 months along with a range of modern financial services,” stated Mr. Pham Hong Hai, Acting Chief Executive Director of OCB, at the event.

The accelerated implementation of OCB’s platform and app launch is made possible with technology provider, Backbase and the support of Backbase’s implementation partner, SmartOSC, who have been developing Vietnamese localization for the platform. This expedited setup included crucial features such as account management, term deposits, and bill payments, all tailored to the local nuances of the Vietnamese market.

“We are proud of our collaboration with Backbase, which enables us to bring our clients’ fintech dreams to life and set a new standard for go-live in Vietnam,” said Le Mai Anh, Vice Chairman of SmartOSC. “As an award-winning platform implementer, we look forward to continuing our partnership to further expand OCB OMNI’s second phase with new digital offerings and onboarding new customers.”

“Having interacted with numerous banks in Vietnam and across Asia, we’ve observed that many are still grappling with the formulation of the right digital transformation strategies and remain in the planning stages. The agility and decisiveness of OCB’s management team in swiftly implementing the Backbase Engagement Banking Platform has positioned OCB ahead of many of its banking peers in fulfilling their commitment to customer-first and digital-first innovation as part of their digital transformation. The readiness of our local ecosystem is also a key factor in the success of OCB’s launch; our implementation partner, SmartOSC, has been diligent in adhering to the go-live timeline,” said Riddhi Dutta, Regional Vice President of Asia, Backbase.

OCB OMNI stands out as one of the few digital banks highly regarded for its convenience, comprehensive utilities, speed, and above all, robust security and personalization. Mibrand’s announcement reinforced this acclaim, with the platform securing two awards, namely the “Banking App With The Most User-Friendly Language & Information”, and the “Most User-Friendly Banking App”.

About Backbase

Backbase is on a mission to re-architect banking around the customer.

Backbase created the Backbase Engagement Banking Platform – a unified platform with the customer at the center, empowering banks to accelerate their digital transformation. From customer onboarding to servicing, loyalty, and loan origination, our single platform — open and frictionless, with ready-to-go apps — improves every aspect of the customer experience. Built from the ground up with the customer at the heart, our Engagement Banking Platform easily plugs into existing core banking systems and comes pre-integrated with the latest fintechs so financial institutions can innovate at scale.

Industry analysts Gartner, Omdia, and IDC continuously recognize Backbase’s category leadership position. Over 120 financial institutions around the world have embraced the Backbase Engagement Banking Platform. In APAC, the customers we serve include ABBANK, BDO Unibank, Bank of the Philippine Islands, China Bank, EastWest Bank, HDFC Bank, JudoBank, OCB, Techcombank, and TPBank.

Backbase is a privately funded fintech company, founded in 2003 in Amsterdam (Global HQ), with regional offices in Singapore (APAC HQ), Atlanta (Americas HQ), and operations in Australia, India, Indonesia, Malaysia, Philippines, Thailand, Vietnam, Latin America, and the UK.

About Orient Commercial Joint Stock Bank

Orient Commercial Joint Stock Bank (OCB) was established on June 10, 1996. After more than 27 years of operation and development, OCB currently has more than 200 business units spread across all regions and key economic centers across the country. And considered as one of the banks with good and stable growth for many years.

OCB was recognized by the State Bank as one of the first three banks to complete risk management items according to Basel II international standards by the end of 2018. Moody’s Investors Service, one of the three credit rating agencies most prestigious in the world, increased Counterparty Risk Assessment (CRA) and Counterparty Risk Rating (CRR) to Ba3 in July 2019. This is the highest ranking level in Vietnam today.

Rated as the leading bank in Vietnam in terms of operational efficiency with sustainable growth potential, OCB has created confidence for Aozora Bank – one of the most efficient banks in Japan, to invest. 15% share capital of OCB and become a long-term strategic partner.

OCB has gradually risen to the top of the group of private banks in Vietnam according to three criteria: growth rate, safety and efficiency. Not only operational efficiency and profit, OCB always actively controls costs, synchronously implements cost-optimizing solutions to improve business efficiency, this is the Bank’s direction throughout. OCB’s equity has now increased by nearly 8 times, profit by more than 16 times and total assets by 12 times. Thereby, OCB became a joint stock commercial bank holding the No. 1 position in terms of profit growth rate and No. 3 in terms of return on capital efficiency.

About SmartOSC

With 18 years in operation, SmartOSC is an industry-leading digital transformation agency of 1000+ experts across countries including Vietnam, Australia, Singapore, Japan, Thailand, Indonesia, Korea, the US and the UK. Deep experience across most enterprise platforms and technology stacks has made SmartOSC a trusted partner for leading brands and financial institutions worldwide.

SmartOSC delivers top-tier solutions and caters to the unique requirements of banks and financial institutions worldwide by leveraging the latest technologies. This expertise enables banks to reduce operating costs, save implementation time, and ensure security with SmartOSC’s suite of offerings.

Recognized at the Global Economics Awards 2023 and the Digital CX Awards 2024, hosted by The Digital Banker, for its outstanding platform implementation capabilities, SmartOSC is committed to helping clients succeed in an ever-evolving world.