Inside the digital 'machine' that processes over a billion transactions at Vietcombank.

(Chinhphu.vn) - Users only need a few seconds to complete a transaction on their phone. However, to maintain the speed, stability, and security of over 1 billion digital transactions annually, Vietcombank is operating a "digital nervous system" on a scale among the largest in the banking system.

Digital payment technology is contributing to changing the way users access modern financial services.

Vietcombank 's 'digital nervous system' processes over 1 billion transactions.

A user opens their phone and scans a QR code to pay for a cup of coffee. Just seconds later, the transaction is complete. However, behind this seemingly simple operation lies a series of simultaneously running technological processes: identity verification, real-time data processing, account reconciliation, and activation of anti-fraud monitoring layers.

This is also the least visible aspect of the banking industry's digital transformation. Users typically perceive the change through transaction speed or convenience. However, for large banks, the core element lies in the ability to operate stably, securely, and continuously on a very large scale.

In the context of Vietnam's promotion of the digital economy , cashless payments, and national digital data, digital banking is no longer solely a matter for the financial sector. On the contrary, this field is gradually becoming an integral part of the economy's operational infrastructure.

According to a representative from Vietcombank, by 2025, the bank's digital ecosystem will process approximately 1.17 billion digital transactions with a total value of around 14.7 million trillion VND. Notably, nearly 99% of retail transactions will be conducted through digital channels.

The scale of a leading financial institution allows users to authenticate using VNeID to complete loan applications, scan QR codes for payments abroad, or conduct transactions directly on their phones without needing to visit a branch. Meanwhile, for businesses, digital platforms help process cash flow in real time, reduce paperwork, and optimize operations.

Moreover, the digitalization process contributes to promoting cashless payments, while significantly reducing the social operating costs associated with cash, paper, and manual processes.

Users authenticate using biometric authentication on the VCB Digibank app.

The restructuring behind digital banking

For many years, digital transformation in banking has often been seen through mobile banking, QR codes, or eKYC. However, for large banks, the most important part lies in data and the underlying technological infrastructure.

One of Vietcombank's key milestones was the successful go-live of its core banking system in 2020. In the banking industry, core banking is considered a crucial foundation for real-time processing capabilities and the expansion of digital services on a large scale.

From this foundation, Vietcombank has gradually built a digital ecosystem including VCB Digibank for individual customers, VCB DigiBiz for SME businesses, VCB CashUp for cash flow management, VCB Online Lending for online lending, along with many digital platforms in the healthcare and education sectors.

Notably, these platforms do not operate independently but are interconnected through data, digital identities, and centralized processing systems. This results in a more seamless customer experience. Simultaneously, banks can automate many of their backend operational processes.

Alongside digital payments, Vietcombank is also one of the pioneering banks in implementing biometric authentication via chip-embedded citizen identification cards, integrating VNeID and remote digital signatures. By the end of 2025, the bank will have collected biometric data for over 15 million customers; approximately 2.5 million social security accounts linked via VNeID; and disbursed approximately 8,350 billion VND through VNeID personal digital signatures.

This trend is also occurring in many countries such as India, Singapore, and Brazil, where data and electronic identification are becoming the foundation of modern banking.

For tech startups, testing new models or changing products can happen very quickly. However, for large banks, especially the Big4, digital transformation is a completely different challenge.

A bank with tens of millions of customers, one of the largest transaction volumes in the system, and extremely high security requirements cannot simply "reset" like a typical technology application. Any changes must be accompanied by considerations of stability, security, and risk management. This is also what makes Vietcombank's digital transformation process unique.

Mr. Le Quang Vinh, General Director of Vietcombank, stated that 2026 is identified as the starting point for a new development strategy with the requirement of "more vigorous innovation, higher efficiency, and more sustainable development."

According to Vietcombank's leadership, the bank's focus is on innovating its growth model in conjunction with restructuring its operations, leveraging the strengths of its ecosystem; and simultaneously improving the quality of its human resources to adapt to digital transformation, integrating AI, Big Data, and modern forecasting models into governance, business, and risk management.

This shows that digital transformation in banking is no longer just about "bringing services online." Instead, financial institutions are moving into a phase of operating with data, AI, and automation.

Furthermore, Vietcombank is currently expanding its digital transformation towards smart operations and sustainable development. The bank is automating many business processes, reducing reliance on traditional paper documents, optimizing internal operations, and enhancing its ability to handle services on a large scale.

The bank also identifies digital technology as one of the platforms that helps reduce resource consumption, optimize operations, and reduce carbon emissions. This is a trend being pursued by many international banks such as DBS, HSBC, and ING.

In 2025, Vietcombank was honored by Asian Banking & Finance for its initiatives in applying technology and digital transformation in risk management. Simultaneously, it was also the only Vietnamese bank to be rated at the national credit ceiling by Moody's, S&P Global, and Fitch Ratings.

From an international perspective, this is also the direction many large banks are pursuing. JPMorgan Chase invests tens of billions of dollars annually in technology to increase data processing capabilities and combat fraud in real time. Meanwhile, BBVA pursues a "data-driven bank" model, considering data as a strategic asset.

Vietcombank is currently pursuing this direction within Vietnam's specific context: digital transformation on the foundation of a bank with one of the largest asset sizes, data, customer base, and security requirements in the system, while maintaining high business efficiency, stability, and asset quality.

Mr. Minh

Source: https://baochinhphu.vn/ben-trong-co-may-so-xu-ly-hon-ty-giao-dich-vietcombank-102260521152326839.htm