The Asian Banking & Finance Retail Banking Awards 2025 were held in Singapore on 3/7. The CUB Vietnam app, developed by Cathay United Bank - Ho Chi Minh City Branch (CUBHCM), received two awards: outstanding initiative in customer experience and outstanding initiative in data analytics.

Launched in 2024, the app aims to provide simple, fast, and secure consumer lending services. CUB Vietnam directly addresses the urgent need for effective, digitized lending solutions in Vietnam's developing consumer finance landscape.

Representatives of CUB and CUBHCM at The Asian Banking & Finance Retail Banking Awards 2025. Photo: CUB

Representatives of CUB and CUBHCM at The Asian Banking & Finance Retail Banking Awards 2025. Photo: CUB

Jennifer Hsu, a representative of Cathay United Bank in Taiwan (CUBHCM's parent bank), said this international award recognizes the bank's efforts in providing a safe, convenient, and comprehensive digital financial platform for Vietnamese people. The CUB Vietnam app allows customers to apply for a credit limit once and make multiple withdrawals within that limit.

Customers can flexibly request multiple loan disbursements within their approved credit limit (up to 40 million VND) over five years. The entire process, from credit limit application to disbursement, is conducted online via smartphone. The approval and disbursement process takes approximately five minutes, is entirely online, and requires minimal paperwork.

Along with developing digital products, CUBHCM has also built a credit assessment and risk control strategy based on data analysis. This approach earned them the Data Analytics Initiative of the Year award. The solution integrates multiple data sources, including business performance, financial reports of Vietnamese enterprises, credit scores, and location information, combined with internal data analysis. This enhances the bank's credit assessment efficiency and minimizes fraud risks, a common challenge in Vietnam's consumer finance sector.

Since the launch of the CUB Vietnam app, the bank has reached over 350,000 users with over 2.5 million downloads, Jennifer Hsu stated. "We will continue to invest in technological innovation to expand the role of digital finance, not only in Vietnam but also across the Southeast Asian market," she said.

This year also marks CUBHCM's 20th anniversary of operation in Vietnam. The bank continues to uphold its motto of "Growing stronger together," aiming to be a trusted financial partner, supporting the development of customers, the community, and its employees.

The Asian Banking & Finance Retail Banking Awards, established in 2005, is a prestigious regional award that honors outstanding initiatives contributing to the transformation of the retail banking industry. It also recognizes technological advancements, new financial solutions, and initiatives that enhance user experience in banking.

Cathay United Bank (CUB) in Taiwan, founded in 1975, is a member of Cathay Financial Holdings. The bank has over 10,000 employees and 232 branches across the Asia-Pacific region, with a presence in countries such as China, Vietnam, Hong Kong, Thailand, Singapore, Malaysia, the Philippines, Laos, Cambodia, Myanmar, and Indonesia. Cathay FHC also has member companies in life insurance, non-life insurance, securities, and investment management.

Hoang Dan