VPBank and GPBank (a wholly owned subsidiary of VPBank) have partnered with OneConnect to implement a next-generation core banking system, according to a cooperation agreement signed on 5/9. The new Digital Core Banking platform will comprehensively manage key operations such as account opening, deposits, credit, payments, and customer data management.
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Representatives of VPBank and OneConnect sign a strategic partnership on 5/9. Photo: VPBank |
Representatives of VPBank and OneConnect sign a strategic partnership on 5/9. Photo: VPBank
The system's highlight is its processing speed of 10,000 transactions per second, equivalent to 1 billion transactions per day, ensuring data security according to international standards. This allows customers to use online banking services anytime, anywhere, with a fast, stable, and secure experience.
This processing capacity helps VPBank and GPBank meet the increasing transaction demand in the future, as the number of customers and the scale of online transactions continue to grow rapidly. The partnership with OneConnect also shortens the time it takes to bring new digital products to market, enabling customers to quickly access modern services such as mobile account opening, online loans, and personal finance management tools. Small and medium-sized enterprises (SMEs) also benefit from convenient financial solutions that save time and costs.
Speaking at the signing ceremony, Nguyen Duc Vinh, CEO of VPBank, assessed the move as a pivotal milestone in VPBank's comprehensive digital transformation journey. It enhances the bank's competitiveness, aiming for leadership in financial technology in Vietnam. GPBank's participation also demonstrates the synergy within the VPBank ecosystem, optimizing technology investment efficiency and expanding customer service scale.
"Mastering core technology means VPBank can proactively create and build versatile, sustainable banking services, ready to meet the increasing needs of customers," Vinh said.
Dang Yang Chen, Chairman of OneConnect, said that with global experience in financial technology and the ability to deploy large-scale digital banking systems, the company will help VPBank improve operational efficiency and expand its capacity to serve millions of customers daily.
Both sides stated that the cooperation in implementing the next-generation Core Banking system is the starting point for many subsequent strategic collaborations between VPBank and OneConnect.
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VPBank promotes digital transformation to enhance customer experience. Photo: VPBank |
VPBank promotes digital transformation to enhance customer experience. Photo: VPBank
OneConnect Financial Technology (OCFT) has over 30 years of experience providing comprehensive financial technology solutions for the banking and insurance sectors. The company currently operates in more than 20 countries and territories and has been honored in IDC's Top 100 Fintech Global, received the Wu Wen Jun AI Science & Technology Award, and numerous international certifications for software development.
VPBank is one of the first joint-stock commercial banks in Vietnam. It is currently a leading bank in terms of total assets, operating efficiency, and profit, with a prominent presence in the retail and SME segments. Over the past three decades, the bank has maintained stable growth. As of 30/6, VPBank's consolidated total assets reached over 1.1 quadrillion dong, and its equity exceeded 152,000 billion dong. VPBank focuses on promoting digital transformation to bring customers fast and convenient financial products and services.
Minh Ngoc
