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Cake by VPBank has been awarded "Best Digital Bank in Vietnam" and is the only Vietnamese digital bank in The Asian Banker Insight's Top 100 Best Global Digital Banks 2025. With over 5 million customers and significant growth in deposits and loans, Cake aims to enhance financial inclusion through advanced technology and AI-driven services.
Digital banks in Vietnam, such as Cake by VPBank and MoMo, are rapidly expanding to serve a largely underserved population, leveraging AI to enhance customer engagement and operational efficiency. Cake has achieved profitability and recognition as the 'Best Digital Bank in Vietnam,' while the legal framework now formally defines electronic money, paving the way for a cashless society. The competitive landscape is intensifying as more traditional banks transition to digital platforms, driving innovation and financial inclusion.
VNPAY has partnered with Cake Digital Bank to integrate Cake's financial services, including Paylater and Quick Loan, into the VNPAY wallet application. This collaboration aims to enhance payment options and provide flexible financial resources for over 10 million users, especially during the year-end shopping season. Both companies plan to expand their services further, promoting digital financial access in Vietnam.
Nguyen Huu Quang
People
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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