VIB 30 years from digital transactions to personalised banking experiences

Between 2017 and 2023, VIB's digital transaction volumes surged 60-fold. By 2025, nearly 97% of retail customer transactions were conducted digitally. The bank's aim transcends merely moving more transactions online; it seeks to create a bank that can serve millions of customers on a single platform while becoming increasingly tailored to individual needs.

Founded on September 18, 1996, VIB's vision has been sustained through long-term investments in technology, data, and people. Over the past three decades, its total assets grew at an average annual rate of 21%, nearly 1.8 times the industry average. Retail lending expanded by 23% annually, 1.6 times the market rate, and profits grew at an average annual rate of 26%.

VIB's technology evolution began with digitizing transactions, progressed to modernizing infrastructure, connecting data, and deploying AI. Each step aimed at tangible improvements for customers, such as fewer steps, shorter wait times, greater choice, and solutions fitting individual circumstances. In 2017, MyVIB downloads increased by 104%, active users rose by 87%, and 20% of new retail customers opted to open accounts online.

MyVIB was awarded "Digital Bank of the Year" by The Asset and recognized as Vietnam's "Best Retail Mobile Banking Experience." This period was marked by bringing familiar banking transactions to mobile and introducing innovative features like MyVIB Social Keyboard, enabling money transfers and selected banking transactions directly through social media chats – a solution recognized by IDG as "Unique Innovative Service 2017."

As user and transaction volumes grew rapidly, a seamless front-end experience required infrastructure that was flexible, secure, and scalable. In 2021, VIB became one of the first banks in Vietnam to adopt a multi-cloud strategy, allowing dynamic scaling of processing capacity based on demand and enhancing its applications without disrupting operations.

In 2022, MyVIB 2.0 achieved Vietnam Records by delivering an augmented reality experience and launching a mobile banking application built on a cloud-native architecture, achieving one million users within six months. By 2026, VIB developed its digital application ecosystem further, with each platform catering to distinct customer segments.

MyVIB offers comprehensive banking capabilities to existing customers, Max is tailored for younger customers and those starting their financial journey, VIB Business supports business finance management, and VIB Corp provides specialized solutions for corporate customers.

From a customer-facing application layer, VIB continues to modernize its core systems. In 2024, the bank announced the modernization of its Temenos R23 Core Banking platform on a combination of public cloud and VIB's private cloud, creating the foundation for handling higher transaction volumes, delivering connected experiences across channels, and accelerating time-to-market for new products.

Eric Yeo, general manager of AWS Vietnam, noted that modernizing core banking systems on AWS cloud is crucial for VIB's innovation at scale and customer service at scale. Technology advancements have been paired with customer protection measures, including 24/7 monitoring, biometric authentication, facial recognition, and real-time transaction analytics to safeguard against evolving fraud methods.

In 2026, VIB received commendations from the Minister of Public Security for its achievements in Project 06 and combating high-tech crime, emphasizing that speed and security go hand in hand in providing lasting value to customers.