Cake by VPBank (Cake) is the first bank to successfully partner with Visa to implement a comprehensive card management system using cloud technology (fully cloud-based CMS) on Google Cloud infrastructure.
Cake Digital Bank and Visa have just launched a comprehensive cloud-based card management system utilizing Visa Cloud Connect. Cake is Visa's first client bank to successfully implement a cloud-based CMS in Vietnam, and also the first globally to successfully deploy this system through Google Cloud infrastructure. This success marks a significant breakthrough in modernizing payment processes and affirms Cake's pioneering position in technology solutions in Vietnam.
Mr. Tu The Hien, Chief Technology Officer of Cake, shared: “Technology is a core element in Cake’s development journey. With Visa’s expertise in payments, Cake’s ‘innovation DNA’, and Google Cloud’s security system, this collaboration delivers a seamless payment experience and high operational efficiency. This affirms Cake’s technological capabilities and ability to collaborate with global organizations, aiming to provide comprehensive financial solutions that meet the increasingly diverse needs of Vietnamese users, true to our motto: Easy as Cake.”
Accordingly, Visa Cloud Connect strengthens Cake's secure connection to Visa's global network via the cloud platform, thereby simplifying and optimizing access speed to Visa's payment system.
Cake's business, utilizing the Visa Cloud Connect platform, is expected to achieve significant benefits including: reduced data center infrastructure costs, enhanced sustainability through operational efficiency, and flexible scalability to meet growing customer demands and future payment system innovations. Visa Cloud Connect supports all card and transaction types, with global reach, while ensuring the highest level of security.
Ms. Dang Tuyet Dung, Director of Visa Vietnam and Laos, shared: “This collaboration provides Vietnamese businesses with the necessary technologies to thrive in the digital economy . The cloud-based card management system enhances operational efficiency and promotes cashless payments, aligning with Visa’s vision for a digitized future in Vietnam. This also underscores Visa’s commitment to supporting innovation in fintech and promoting financial inclusion in the region.”
Cake's proprietary payment processing platform is built on a modern architecture with domain-oriented microservices, event-driven architecture, and leverages specialized Google Cloud services such as Google Kubernetes Engine (GKE) Enterprise, Spanner, Pub/Sub, and BigQuery. Recently, Cake launched Vietnam's first one-time virtual debit card technology on the Visa Cloud Connect platform, with plans to apply it to upcoming debit and credit card products.
Mr. Nguyen Duc Toan, Country Director of Google Cloud Vietnam, stated: "Vietnam is rapidly transitioning to a cashless society, with the total value of digital payment transactions expected to reach between US$300 billion and US$350 billion by 2030. We are proud that Cake's comprehensive Visa Cloud Connect card management system, the first of its kind in the world, is being deployed on Google Cloud – an open, secure infrastructure with flexible customization and cost optimization, enabling us to deliver the convenient and seamless payment experience that customers demand. This collaboration with Cake digital bank demonstrates our commitment to supporting and promoting fintech innovation in Vietnam."
Launched in January 2021, Cake by VPBank is a purely digital bank that applies artificial intelligence throughout its banking operations, following the "Next GenAI Bank" model. In Vietnam, Cake is the only digital bank to meet the ISO/IEC 30107-3 standard for facial biometrics, and it also achieves the highest standard for payment card data security - PCI DSS 4.0 level 1. In 2024 alone, Cake achieved significant technological victories at major awards such as: “Best AI Bank” at The Asian Banker award; “Rising Star” at Euromoney for Excellence. Domestically, Cake was named “Technology Bank of the Year” at the Better Choice award. |
Thu Loan
Source: https://vietnamnet.vn/cake-bat-tay-visa-dua-he-thong-quan-ly-the-toan-dien-len-google-cloud-2341793.html
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