VIB 30 years: from digital transactions to personalised banking experiences

Photo courtesy of VIB

Between 2017 and 2023, the number of transactions conducted through VIB’s digital channels grew 60-fold. Over the next two years, transaction volumes nearly doubled again, with 97 per cent of retail customer transactions conducted digitally by 2025. But for VIB, the role of technology goes far beyond moving more transactions online. It is about building a bank that can serve millions of customers on a single platform while becoming increasingly relevant to each individual.

VIB began its journey on September 18, 1996, with a vision to build a modern, professional bank centred on customers. Three decades later, that vision continues to be powered by long-term investments in technology, data and people. From 2017 to 2025, VIB’s total assets grew at an average annual rate of 21 per cent–nearly 1.8 times the industry average.

Retail lending grew 23 per cent annually, 1.6 times the market rate, while profit maintained an average annual growth rate of 26 per cent. Growth has created greater capacity for innovation, while technology has enabled the bank to serve more customers with greater efficiency.

Over the years, VIB’s technology journey has evolved from digitising transactions to modernising infrastructure, connecting data and deploying AI. Every step has been designed around tangible improvements customers can feel: fewer steps, shorter wait times, greater choice and solutions that better fit their individual circumstances.

Bringing banking to where customers are

A major milestone came in 2017, when MyVIB downloads increased 104 per cent, the number of active users rose 87 per cent, and 20 per cent of new retail customers chose to open their accounts online. That same year, The Asset named VIB “Digital Bank of the Year” and recognised MyVIB as Vietnam’s “Best Retail Mobile Banking Experience.”

What set this period apart was not simply bringing familiar banking transactions to mobile. With MyVIB Social Keyboard, customers could transfer money and perform selected banking transactions directly while chatting on social media–without leaving the conversation to open another app. The solution was recognised by IDG as “Unique Innovative Service 2017.”

Photo courtesy of VIB

Behind the feature was a new way of thinking about digital banking: instead of waiting for customers to come to the bank, financial services could be delivered directly where a need arises. Digitalisation was no longer just about adding another transaction channel; it was about shortening the distance between a customer’s need and action.

Building the platform for the next wave of innovation

As users and transaction volumes grew rapidly, a seamless front-end experience could only scale sustainably with infrastructure that was flexible, secure and built to grow. In 2021, VIB became one of the first banks in Vietnam to deploy a multi-cloud strategy. This model enabled the bank to dynamically scale processing capacity based on demand, accelerate resource provisioning and continuously enhance its applications while minimising disruption to overall operations.

In 2022, MyVIB 2.0 set two Vietnam Records: becoming Vietnam’s first digital banking application to deliver an augmented reality experience and the country’s first mobile banking application built on a cloud-native architecture. Within six months of its launch, the application reached one million users–turning advanced technology into an accessible, reliable experience embraced by customers.

By 2026, VIB had further developed its digital application ecosystem, with each platform designed around the distinct needs and journeys of different customer segments. MyVIB serves existing customers with a comprehensive suite of banking capabilities; Max, VIB’s next-generation digital bank, is built for younger customers and those beginning their financial journey; VIB Business supports business finance management and day-to-day operations; while VIB Corp delivers specialised solutions for corporate customers.

Each platform brings together solutions tailored to specific customer profiles, with differentiated benefits and experiences. Designed specifically for young and dynamic customers, Max introduces a range of new-to-market solutions, including Max Card, the first subscription-based credit card; Group Card, a benefits ecosystem for cardholders; personalised 360° benefits for individual cardholders; Banking for Kids, the first solution designed for children from age six; and Quick Loan, offering disbursement within 15 minutes through the Financial Wallet.

From the customer-facing application layer, VIB has continued to modernise its core systems. In 2024, the bank announced the modernisation of its Temenos R23 Core Banking platform on a combination of public cloud and VIB’s private cloud. As the backbone supporting essential banking activities–including accounts, deposits, loans and transactions–the project creates the foundation for VIB to handle higher transaction volumes, deliver connected experiences across channels and accelerate time-to-market for new products.

Eric Yeo, general nanager of AWS Vietnam, said, “Vietnam’s financial sector is leading the adoption of innovative technologies to deliver tangible value to millions of customers. Modernising core banking systems on AWS cloud is an important step in VIB’s journey to build a strong foundation for innovation at scale and serve customers at scale.”

Technology capabilities have been strengthened alongside customer protection. 24/7 monitoring, biometric authentication, facial recognition and real-time transaction analytics provide adaptive layers of protection against constantly evolving forms of fraud. In 2026, VIB received two commendations from the Minister of Public Security for its achievements in implementing Project 06 and combating high-tech crime. For VIB, speed cannot be separated from security: a faster experience only creates lasting value when customers’ data, identities and assets remain protected.

Three decades of turning forward

After 30 years, VIB’s technology journey can be defined by three major shifts: from moving transactions onto digital channels to building infrastructure that can scale; from disconnected systems to connected data centred around the customer; and from one-size-fits-all products to experiences that adapt to each person’s choices, context and journey. Together, these shifts have helped establish new standards for speed, customer control and the ability to understand customers at scale.

The value created through investment and innovation has translated into resources for growth and broader contributions to society. For five consecutive years, from 2021 to 2025, VIB was ranked among Vietnam’s Top 50 Most Effective Businesses. In 2025 alone, the bank contributed $103.9 million to the state budget.

2026 marks VIB’s transition into a new growth cycle. Starting in 2027, VIB 3.0 will enter its next phase of development, building on capabilities accumulated over the years: the capacity to serve millions of customers, increasingly connected data and the responsible application of AI.

Looking ahead, the best technology may be the technology customers barely notice. Complexity moves into the background; what comes forward is a bank that is faster, safer, more intuitive and more empowering for every customer.

From a technological breakthrough to a better customer experience; from the bank’s growth to its contribution to the country–the value of innovation continues to compound with every step forward.

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