VPBank and Ping Group Legally build a new core banking system – a step in digital banking transformation in Vietnam

On September 5, 2025, Vietnam Prosperity Joint Stock Commercial Bank (VPBank) officially signed a cooperation agreement with OneConnect – a financial technology company under Ping An Group (China), to build a new generation core banking system (Core Banking) according to Digital Core Banking. This system is capable of processing up to 1 billion transactions/day, the first in the Vietnamese banking industry, bringing a seamless, fast and safe experience to millions of individual and corporate customers nationwide.
According to the agreement, OneConnect will accompany VPBank and GPBank (a bank 100% owned by VPBank) to deploy a new generation Core Banking system. This platform will help VPBank and GPBank effectively manage the bank’s main operations: from opening accounts, making savings deposits, borrowing capital, to payment services and managing customer information.
The highlight of the system is its outstanding processing speed. The system can handle up to 10,000 transactions/second and 1 billion transactions/day quickly and stably, while ensuring data security according to international standards. This helps customers feel secure using online banking services anytime, anywhere without worrying about risks, providing a seamless, convenient and safe experience for customers. Outstanding processing capacity helps VPBank and GPBank be ready to meet the explosive transaction demand in the future, when the number of customers and the scale of online transactions of the bank continue to grow strongly.
Cooperating with OneConnect also helps VPBank and GPBank shorten the time to bring new digital products to the market. As a result, customers will soon have access to more modern services, such as quick account opening on the phone, online loans, or personal expense management tools. Small and medium enterprises (SMEs) will also benefit from convenient financial solutions that save time and costs.
Speaking at the signing ceremony, Mr. Nguyen Duc Vinh, General Director of VPBank said: “The implementation of the new generation digital banking system not only helps VPBank improve its competitiveness in the digital era, but also affirms its leading position in financial technology in Vietnam. Mastering core technology means that VPBank can proactively innovate, build multi-functional and sustainable banking services and be ready to meet the increasing needs of customers.”
This is also an important turning point in VPBank’s comprehensive digital transformation journey, helping the bank improve its competitiveness and affirm its leading position in financial technology in Vietnam. GPBank’s implementation also affirms the direction of synergy in the entire VPBank ecosystem, aiming to maximize the efficiency of technology investment and expand the scale of customer service. Mastering core technology will create a solid foundation for VPBank and GPBank to continue to innovate, develop sustainably and bring optimal experiences to customers.
The cooperation in deploying the new generation Core Banking system will also be the first step for many more strategic cooperation activities between VPBank and OneConnect in the future.
Mr. Dang Yang Chen, Chairman of OneConnect shared: “With global experience in financial technology and the ability to deploy large-scale digital banking systems, OneConnect believes that the new solution will help VPBank improve operational efficiency, expand its ability to serve millions of customers every day and continue to affirm its brand as a leading innovative bank in Vietnam.”
Continuously expanding cooperation with major global names, VPBank continues to affirm its leading position in financial technology, mastering core technology, aiming for a versatile and sustainable digital banking model. This important cooperation once again contributes to the positioning of VPBank as an innovative bank, ready to meet the increasing needs of customers and the market.