Vietnam’s premier banking institution is set to launch a cutting-edge, AI-driven digital platform that aims to transform the mobile experience for corporate customers and enhance innovation within enterprises.
Virtusa Corporation, a worldwide leader in product and platform engineering services, has formed a strategic alliance with Vietcombank (VCB), the foremost state-owned commercial bank in Vietnam. The partnership was officially initiated during a project launch event on July 30 in Hanoi, marking the start of a multi-year initiative to create a cohesive, scalable, and AI-integrated digital banking platform for corporate clients, which has been named VCB Corporate DigiBank.
As Vietnam’s leading financial entity, Vietcombank is making a significant investment to reinforce its leadership in the market and expedite the introduction of financial products tailored for corporate clients. This endeavor marks a pivotal technology project in the bank’s history, transitioning from outdated infrastructure to a modern, cloud-native framework. The goal is to provide a persona-driven, mobile-centric experience for medium and large corporate clients. By integrating user experiences across both web and mobile platforms, Vietcombank intends to deliver seamless and intuitive digital interactions typically associated with retail banking.
Mr. Le Quang Vinh, a member of the Board of Directors and the CEO of Vietcombank, stated, “This initiative represents more than just a technological enhancement; it is a holistic transformation of Vietcombank’s digital capabilities. By adopting international best practices, we are developing enduring, self-sufficient digital competencies. The ultimate measure of this transformation’s success will be the satisfaction and trust of our corporate clients as they navigate this new platform.”
Ms. Phung Nguyen Hai Yen, the Deputy CEO and Deputy Project Director, emphasized, “To realize this vision, we are creating a modern digital ecosystem that encourages digital transformation throughout the wider business community. By merging Vietcombank’s systemic strengths with Virtusa’s extensive global expertise, we are committed to establishing a new standard for quality and innovation within the national digital landscape.”
The new corporate banking platform will draw on Virtusa’s over 25 years of experience in platform engineering. The initial phase will prioritize enhancing Account Management and Payments, delivering immediate benefits to corporate clients in Vietnam. Future updates will quickly broaden the platform’s capabilities to include additional services such as lending, trade finance, collections, foreign exchange, and investment options.
A key aspect of the partnership is Virtusa’s dedication to a collaborative development model that results in a fully bank-owned platform and intellectual property. Through a structured Transfer of Technical Knowledge (TOTK) framework, Virtusa will empower Vietcombank’s internal teams to own, operate, and scale the technology independently over the long term.
Hemant Tantia, Business Head for Asia at Virtusa, remarked, “The best outcomes are achieved when Vietcombank and Virtusa work together as a cohesive team, focused on a shared objective and committed to collaboratively addressing challenges. As we enter the AI-driven era, we are dedicated to optimizing AI technologies in this implementation, thereby setting a new benchmark for the banking sector in Vietnam. By combining our extensive industry experience, innovative mindset, and global engineering capabilities with Vietcombank’s deep market insights, this project is poised to be a significant catalyst for Vietcombank in realizing its strategic objectives.”
For further details about Virtusa’s offerings in banking and financial services, please visit Virtusa’s website.
