VPBank builds digital branchless bank to serve millions of customers

VPBank builds digital branchless bank to serve millions of customers

To realise the dream of developing comprehensive AI, a single organisation is not enough, but it is vital to create a seamless and strong digital ecosystem with thorough investment, according to Bui Hai Quan, vice chairman of the Board of Directors at VPBank, at the AI-Semiconductor Conference (AISC 2025) in Hanoi on March 12.

For the first time, an international conference on AI and semiconductors was held in Vietnam with global names like Google, Nvidia, IBM, Meta, Intel, TSMC, Samsung, MediaTek, Tokyo Electron, and Panasonic, among others

The conference was attended by large enterprises such as VPBank, FPT Corporation, IBM, and VNPT, gathering more than 1,000 influential leaders and experts. AISC 2025 focused on discussions about new technology trends in AI and semiconductors, best practices from large organisations, and cross-border business opportunities.

At the conference, VPBank’s leader delivered a keynote speech sharing the experience of a Vietnamese bank in developing AI applications.

Bui Hai Quan, vice chairman of the Board of Directors at VPBank, shared the trends of adopting technologies in the finance and banking sector

According to Quan, banks in the future will be intelligent, proactive, and highly personalised to enhance efficiency, security, and customer engagement. AI-based financial ecosystems not only predict customer needs but also encourage financial inclusion, improve risk management, and build deeper customer relationships.

“Recognising the role of technology and AI early, VPBank has opted for mastering technology, not merely following the market,” Quan said.

VPBank’s strategy focuses on creating a seamless digital ecosystem that connects various member companies across banking, consumer finance, securities, digital insurance, and some other multiservice platforms. All member companies are technology-centric.

Cake by VPBank is a typical example of a digital bank without brick-and-mortar branches. Launched in 2021, Cake by VPBank serves five million customers with only 250 employees, processing 700,000 credit applications monthly.

The company’s success lies in the adoption of technologies, especially AI, since its inception. Cake uses over 20 score models to evaluate customer behaviour. They are also the first digital bank in Vietnam to have developed its own large language model (chatbot). In February 2025, Cake was ranked among the 'World’s Top 100 Digital Banks' for 2025 and honoured as 'Best Digital Bank in Vietnam' by The Asian Banker Global.

With a clear and consistent strategy, VPBank also made great strides in other digital initiatives, making a positive contribution to the ecosystem. VPBank NEO boasts over 10 million users and handles 600 million transactions annually.

OPES, a digital insurer in the non-life sector, posted a revenue of $102 million in 2024 with only 110 employees. Be has transformed a ride-hailing app into a leading superapp fully operated by Vietnamese, serving 12 million users with tens of millions of transactions monthly.

According to VPBank’s representative, the bank clearly defines its strategic vision of becoming a bridge to Vietnam’s deep integration into the world through powerful digital platforms. The bank will bring the most advanced technologies to Vietnam while introducing Vietnam's technology capacity and innovation to the world.

Sharing the opportunities in a new era, Christopher Nguyen, founder of Aitomatic and co-organiser of AISC 2025, stressed that Vietnam was facing a “once-in-4,000-years” opportunity to develop AI and semiconductors.

Christopher Nguyen, founder of Aitomatic

Christopher Nguyen said, “The Vietnamese government's efforts to encourage AI and semiconductor development demonstrate the right direction, aligned with a global technology value chain shift.”

“The combination of national vision and international investment needs from developed economies such as the US, Japan, and South Korea has opened up important opportunities for the development of the AI and semiconductor industries in Vietnam,” he added.

Vu Quoc Huy, director of the National Innovation Centre (NIC), said, “With the aspiration to transform Vietnam into a base for global technology development, the government is making efforts to encourage innovation and develop the high-tech industry, especially AI and semiconductors.”

“In the semiconductor industry, the government has set a goal to develop a high-quality workforce by 2030 in collaboration with global partners, institutes, and schools to nurture talent. As for AI, NIC is working with partners to develop open-source software, expected to be announced on March 14.”

“We hope international partners continue to explore opportunities in Vietnam while creating the most favourable conditions for development. AISC 2025 lays an important foundation for exchanges and shapes the future of the semiconductor industry.”

The opening session of AISC 2025 also offered academic perspectives on the intersection of AI and semiconductor technology from scientists.

Anna Goldie from Google DeepMind spoke about AlphaChip – a revolutionary advancement in AI-driven microchip design by Google. Pioneering researchers from Stanford University and the University of Warwick presented cutting-edge studies on AI-applied IC design, scaling semiconductor production, and the potential of Large Language Models in specialised fields.

At the end of the session, for the first time in Vietnam, participating companies took part in the Startup Pavilion – an international 'Shark Tank' scheme, where leading investment funds can directly evaluate innovative ideas.

The platform enables domestic technology firms to quickly connect with senior leaders, pitch their projects within a limited timeframe, and secure key agreements during the conference, paving their entry into the global technology market.

VIR