VPBank's "unlocking the future" technology honored at Red Hat APAC 2025

VTV.vn - VPBank is the only bank in Vietnam to be honored at the Red Hat APAC Innovation Award 2025, in the Digital Transformation category.

The Red Hat APAC Innovation Awards 2025, themed “Unlock the Future”, honors pioneering organizations in applying open technology to shape competitiveness in the digital age and create sustainable business impact. Among the 30 enterprises honored across Asia, VPBank is the only representative of the Vietnamese banking industry - thanks to a large-scale core banking system modernization project on the Red Hat OpenShift Platform Plus platform.

VPBank becomes the first bank in ASEAN to deploy core banking on Red Hat OpenShift

Pioneering in making technology a pillar for sustainable development, VPBank became the first bank in the ASEAN region to operate core banking on a completely open cloud platform. The project was of exceptionally large scale, including the conversion of more than 18 million customer accounts and millions of loan records to the new platform in just under 24 hours of switching. This is one of the largest and most complex banking technology transformation projects in the Asia- Pacific region.

The move to an open architecture helps VPBank automate deployment, accelerate product development, optimize operating costs, and ensure the highest level of performance, security, and stability. More importantly, the new platform helps VPBank significantly shorten the time to market, easily integrate with the fintech partner ecosystem, and bring a smoother, safer, and more personalized digital banking experience to customers.

Mr. Wong Kok Seng Augustine , Head of Information Technology Division of VPBank, said: "VPBank's goal is to build a digital-centric platform that promotes agility, resilience and continuous innovation. The partnership with Red Hat has helped us modernize our core banking platform with greater flexibility, speed and reliability - essential capabilities in a rapidly changing financial landscape. This transformation helps us serve our customers better, empower our creative team with confidence and make VPBank a regional leader in technology-enabled banking."

VPBank is the only representative of the Vietnamese banking industry to be honored at the Red Hat award.

The international award from Red Hat is an important recognition of VPBank's long-term digital transformation strategy, while affirming the bank's pioneering role in applying modern core technology, improving operational efficiency and bringing optimal customer experience.

Representative of Red Hat Vietnam, Ms. Dao Hoang Giang (Jane) - Country Director in charge of Vietnam, Cambodia, Laos & Myanmar - shared: "VPBank's pioneering deployment of the Temenos core banking system on Red Hat OpenShift is a testament to the vision and technological capacity of a Vietnamese bank that is reaching regional levels. This platform helps VPBank achieve flexibility, stability and outstanding performance, creating a solid foundation for continuous innovation and serving millions of customers better every day."

By investing heavily in technology infrastructure, VPBank continues to consolidate its position as the bank with the leading core technology capacity in Vietnam, ready to conquer new milestones on the national digital transformation journey.

About VPBank:

Vietnam Prosperity Joint Stock Commercial Bank (VPBank) is currently one of the leading joint stock commercial banks in Vietnam, serving more than 30 million customers across the entire ecosystem, covering all segments and on all platforms. VPBank is currently among the leading commercial banks in terms of total assets, operational efficiency, and profits, with a strong presence in the retail and SME segments. VPBank is also a pioneer in digital transformation to bring customers the best and fastest financial products and services.

Learn more at: www.vpbank.com.vn

About Red Hat, Inc:
Red Hat, a leading provider of enterprise open source software and a leader in open source hybrid cloud technology, provides a reliable, consistent, and comprehensive platform for IT innovation and AI applications. In collaboration with partners and customers, Red Hat helps partners build, connect, automate, secure, and manage IT environments, supported by award-winning consulting services and training and certification programs.

Source: https://vtv.vn/cong-nghe-mo-khoa-tuong-lai-cua-vpbank-duoc-vinh-danh-tai-red-hat-apac-2025-100251103095040509.htm