VIB from transaction digitization to experience digitization

In the digital era, as transactional features gradually become commoditized, what truly enables a bank to earn long-term trust and customer loyalty?

Vietnam’s retail banking sector is entering a new phase shifting from transaction digitization to experience digitization. As financial products become increasingly similar, customer experience has emerged as the real competitive arena. Against this backdrop, VIB stands out by leveraging technology to break conventional models and deliver personalized financial solutions at scale.

Sharing insights behind this strategy, Mr. Tran Nhat Minh - Deputy CEO of VIB, stated:
 “Technology alone does not create loyalty; experience does. Technology is the key enabler that allows experiences to be personalized at scale. At VIB, we build a platform capable of serving millions of users simultaneously where each customer interacts with a version of the bank designed specifically for them.” This perspective explains VIB’s rapid pace of innovation and illustrates how the bank masters technology to lead a new approach in retail banking.

What defines the core difference in VIB’s technology strategy?

For me, the biggest difference lies not in what technology we use, but how we master it to serve customers. Many organizations deploy technology in silos - separate systems for cards, loans, savings. VIB approaches technology as a unified platform, where data, processes, and experiences revolve around customers, not internal structures. This mindset enables personalization at scale while maintaining stability, security, and consistency. When technology matures, it becomes invisible yet delivers highly tangible benefits: faster, more accurate, and more relevant experiences for each individual.

From a technology perspective, what is the biggest shift in how banks approach customer experience in recent years?

There has been a fundamental shift from digitizing transactions to digitizing experiences. Previously, success meant fast transfers or easy account opening. Once those became standard, customers began comparing banking experiences with the best digital experiences in everyday life. At VIB, technology is not just an operational support tool it is a strategic spearhead for insight and personalization. We call this the era of unique experiences, where every customer is served in a way that reflects their personal data and context.

In your view, what is the core differentiating factor in VIB’s technology strategy?

For me, the greatest difference does not lie in which technologies are used, but in how technology is mastered to serve customers. Many organizations deploy technology in fragmented silos separate systems for cards, lending, and savings. At VIB, we approach technology as a unified platform, where data, processes, and experiences are designed around the customer, rather than internal structures. This mindset and approach enable VIB to deliver personalization at scale while maintaining stability, security, and consistency. When technology reaches a certain level of maturity, it becomes invisible yet it creates highly tangible experiences: faster, more accurate, and more relevant to each individual customer.

From a technology perspective, what has been the most significant change in how the banking industry has approached customer experience in recent years?

The most notable shift has been the transition from digitising transactions to digitising experiences. In the past, the focus was on faster transfers and more convenient account opening. Once these became industry standards, customers began to benchmark banking experiences against the best digital experiences in their everyday lives. At VIB, technology goes beyond operational support to become a key driver of deeper customer understanding and large-scale personalisation. We refer to this as the era of ‘distinctive experiences’ - where each customer is served in a unique way, shaped by data and personal context.

You have just mentioned VIB cards as a financial platform. With milestones such as reaching one million issued cards and ranking among the Top 3 in market spending, how do you assess the role of technology in transforming VIB cards from a purely payment tool into a personalized financial platform?

These milestones reflect the architect-like role of technology in the way VIB designs its products. When cards are developed based on a customer-centric approach, technology is no longer merely a back-end support layer; it becomes the foundation that allows cards to adapt to each individual’s lifestyle and spending patterns. When personalization is delivered with sufficient depth and at the right moments, customers’ spending behavior also shifts in a more positive direction - spending more while spending smarter. This is the core growth driver that has enabled VIB not only to reach the milestone of one million cards, but also to achieve outstanding growth in card spending. By the end of 2025, total VIB credit card spending had increased 17-fold compared to 2018, reaching approximately USD 5.4 billion. On average, each VIB cardholder spends around VND 15 million per month - double the level in 2018 and 50% higher than the industry average.

VIB’s leadership has repeatedly emphasized the mission of “empowering customers to take control of cash flow returns in line with their own lifestyle.” How has technology changed the way customers put their money to work?

Guided by the philosophy of helping customers master cash flow returns in harmony with their lifestyle, VIB leverages technology to simplify even the most complex financial calculations. Rather than requiring customers to become financial experts, technology transforms wealth generation into an automated part of everyday life. Solutions such as Super Interest, Hi-Depo, and iDepo are structured around each individual’s real cash flow rhythm enabling returns to be generated daily, weekly, or monthly all seamlessly managed on the MyVIB platform.

When technology is intelligent enough to handle complex algorithms, customers no longer need to choose between liquidity and returns the system optimizes both for them in a sustainable way.

From spending to earning, VIB’s technology strategy focuses on empowering customers. How has technology transformed lending - where customers traditionally have the least control?

For us, lending technology must empower customers. We shifted from offering fixed loan packages to designing solutions tailored to each stage of a customer’s life. In home loans often tied to major life milestones customers no longer wait weeks for appraisal. With a valuation database covering over 800,000 apartments, assets can be valued automatically within minutes. A multi-dimensional credit scoring system then shortens approval time to 4–8 hours. Personalized loan structures based on real cash-flow data enable us to recommend the most suitable repayment paths helping customers make critical financial decisions with greater speed, confidence, and sustainability.

For short-term needs, Super Cash is a prime example. Instead of multiple products, VIB consolidates everything into a single credit limit of up to VND 1 billion. Customers choose whether to spend via card or withdraw cash fully digital, approved within minutes, and instantly disbursed. These innovations have earned VIB recognition as “Vietnam’s Best Bank for Homeowners 2025” by Euromoney, and Super Cash as “Vietnam’s Most Innovative and Personalized Lending Solution 2025” by Boston Brand Research & Media.

As a high-performing platform powering solutions across customers’ financial journeys, how does MyVIB leverage AI and data to optimize the user experience?

MyVIB is not merely a transactional app - it is the central platform orchestrating the entire financial experience. Instead of customers searching for features, MyVIB delivers the right features at the right moment, based on behavior and context. We apply human-centered design: simple on the surface, powerful behind the scenes. All complexity is handled backstage so customers experience only clarity and ease.

What breakthroughs can we expect from MyVIB in the near future?

In 2025, MyVIB was honored as “The Most Breakthrough AI Application in Digital Banking.” This recognition reflects what we have built so far and also serves as a foundation for us to go even further. We expect that deeper integration of GenAI across the customer journey will enable MyVIB to evolve into a true financial companion capable of natural, conversational interactions and delivering personalized financial advice powered by real-time data.

At the same time, VIB will continue to expand its digital ecosystem through stronger integrations with external partners. Our goal is to allow customers to fulfill everyday needs from entertainment and shopping to public services seamlessly within MyVIB, all through a unified and frictionless experience.

Personalized experiences on MyVIB cannot operate in isolation. Behind them lies a system that enables our business teams to understand and serve customers consistently. How has VIB built the infrastructure and systems to support this?

Behind MyVIB is a robust core technology system capable of supporting millions of interactions every day, while enabling our business teams to deliver consistent customer experiences across all channels. At VIB, we have made structured investments in foundational platforms such as centralized data platforms, real-time processing systems, and a multicloud architecture—allowing us to scale flexibly in line with retail growth needs. In retail banking alone, these systems currently serve millions of digital customers and process tens of millions of transactions each month, all while meeting stringent requirements for stability and security.

A critical piece of this ecosystem is CRM. It serves as the backbone of how we understand and accompany our customers. The system ensures customers do not have to repeat their stories when moving across touchpoints, while enabling our business teams to share a unified view of each customer’s needs, history, and context. This is the foundation that allows VIB to transition from a product-selling model to a financial companionship model supporting customers throughout their financial lifecycle and goals.

Looking ahead, we will continue to enhance these platforms by deepening personalization, integrating AI in a controlled manner, and strengthening omni-channel capabilities raising customer experience to a new, sustainable, and scalable standard.

At VIB, how is talent development structured to help employees adapt to new technologies such as cloud and AI, ensuring continuous innovation?

Technology can only realize its full potential when people are capable of mastering and advancing it. Alongside infrastructure investments, we place strong emphasis on developing the capabilities of both our technology and business teams. VIB is the first bank in Vietnam to roll out the AWS Skill Builder program across the entire organization, equipping our technology teams and related functions with cloud computing knowledge and skills. This is not a short-term training initiative, but part of a long-term capability-building strategy helping our teams develop deep expertise in cloud, data, and information security.

In parallel, we design role-based internal training programs from technology architects and data engineers to business teams to ensure technology is applied in alignment with business objectives and customer experience goals. When people are strong, technology can be leveraged effectively and innovation can continue in a sustainable and consistent manner.

Thank you for the conversation!