OneConnect and VPBank cooperate on technology to process 1 billion transactions per day
SINGAPORE, Sept. 8, 2025 /PRNewswire/ -- On September 5, 2025, OneConnect - a financial technology company under Ping An Group (China), officially signed a cooperation agreement with Vietnam Prosperity Joint Stock Commercial Bank (VPBank), to build a new generation core banking system (Core Banking) according to Digital Core Banking.
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, the first in the Vietnamese banking industry, bringing a seamless, fast and safe experience to millions of individual and corporate customers nationwide.
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."
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."
This collaboration with VPBank further enriches OneConnect's market presence in Southeast Asia. Following successful expansions in Singapore, the Philippines, Malaysia, and other countries, the breakthrough in the Vietnamese market not only broadens the service reach but also accelerates the localization of various products, including AI, risk control, credit, and automotive ecosystems. This lays the foundation for future regional collaboration and ecosystem development.
As the exclusive financial technology export window of Ping An Group, by June 30th, OneConnect's overseas operations have expanded to cover 20 countries and regions, serving 214 clients.
SOURCE OneConnect
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