The high-tech era and the race for new generation banking "super apps"

If “digital banking” was once the destination, in the current high-tech era, it is just the starting point. Will users still recognize the bank they are using in 5 years?

The wave of digital transformation is profoundly changing the way banks operate and serve customers. Technologies such as Big Data, Machine Learning, cloud computing and Process Automation (RPA) are being applied strongly globally, helping banking platforms become more personalized, intelligent and flexible.

According to the State Bank of Vietnam, over 90% of personal transactions now take place via online channels. For example, atSHB , over 95% of operations have been digitized, while over 98% of transactions of individual and corporate customers are conducted entirely on digital platforms, demonstrating the bank's strong progress in the technology race.

However, because of the strong digitalization race, the competitive advantage of the concept of "digital banking" is gradually disappearing. If 5 years ago, a fast money transfer application with a beautiful interface still made users amazed, now those factors have become the minimum standard. Today's users want a flexible financial platform where they can fulfill most of their needs, from payment, saving to investment, insurance or smart spending... seamlessly and safely.

Today's users want a flexible financial platform where most of their needs can be fulfilled.

That need is most evident in the young user group - the generation born in the digital environment and considers the phone as the center of all financial activities. Ms. Minh Trang (28 years old, media employee in Hanoi ) shared: "Almost everything I do on the phone, from transferring money, paying bills to buying movie tickets, airplane tickets, music tickets, etc. I just hope that banking applications will become more and more convenient, can bundle many services in one place, and avoid having to install too many other apps."

According to Mr. Nguyen Xuan Thanh (Fulbright University Vietnam), the technology era is reshaping the entire financial experience. Users want every transaction to be instant, seamless and personalized, from electronic identification (eKYC) to “super apps” that integrate finance, consumption and society. Along with that, open banking and embedded finance are becoming the mainstream direction, when data and services are shared via API, creating a rich and fiercely competitive ecosystem.

“ Digital banking is no longer a race of who has the application, but a race of experience, personalization and the ability to accompany customers. Users now need a flexible, smart platform that integrates many 'tailored' services, not just a simple financial transaction tool ,” said Mr. Do Quang Vinh, Vice Chairman of SHB .

Super Apps: The Inevitable Evolution of Future Banking  

After the period of comprehensive digitalization, the concept of “digital banking” is no longer enough to describe what is happening, as financial services begin to be deeply embedded in all users’ daily needs from shopping, traveling to investing and personal financial management.   According to the US digital consulting firm Publicis Sapient, financial revenue from affiliate services in 2025 will be about 160 billion USD, the growth rate of this market globally in the period 2021-2025 is 41%/year and is still continuing to increase strongly.

In Vietnam, this trend is also clearly taking shape. Thanks to the new generation core banking infrastructure and electronic identification (eKYC) connecting the national database, banks are continuously expanding their digital ecosystem. Many banks have even cut down on branches and transaction offices, instead investing heavily in technology, data, etc. Digital channels are determined to become the main business channel instead of the auxiliary channel of banks.

From only providing basic services such as money transfer, savings, bill payment, many banks are transforming into “financial super apps” on a single application. Here, users can pay, save, invest (insurance, stocks, bonds, etc.) and experience life services such as shopping, traveling, moving, etc., truly a comprehensive financial assistant in the digital age.

Many banks are transforming into “financial super apps” on a single app.

In that picture, SHB is one of the pioneering banks to realize the super app model in Vietnam. The launch of the new generation digital bank SHB SAHA in June 2025 marks a strategic step in the comprehensive digital transformation journey, aiming to become a smart financial platform, accompanying customers in every decision from daily spending to long-term investment.

According to Mr. Do Quang Vinh, if SHB Mobile previously mainly served basic needs such as money transfer, bill payment, information query or savings, SHB SAHA has gone a step further, becoming a multi-utility digital financial platform, integrating many services in the same application. Not only helping users transfer - receive money, pay utilities, bills..., SHB SAHA also expanded to long-term financial needs such as profitable investment, insurance and personal financial management.

SHB SAHA generation banking app is SHB's strategic weapon

Notably, the application also connects with a large ecosystem of partners from VETC (digital traffic), Dai-ichi Life (insurance), VinaCapital (investment) to FUTA Bus Lines (transportation) and many other service and consumer businesses..., bringing a seamless experience to customers in all financial and life activities. Users can also accumulate rewards, receive incentives from partners, or participate in interactive games right on the application - creating a more dynamic, friendly and connected digital financial space for young users.

Mr. Minh Vu (32 years old, office worker in Ho Chi Minh City) shared: “For a long time, I no longer use banking apps just to transfer money, but also to accumulate profits, exchange gift points, or simply to read promotional information or play games to relax my mind after a day of work. An application that can do all of that, I find it more convenient and easier to stick with.”

In addition to maintaining the international standards on digital banking that have been applied before, in response to the increase in high-tech crimes and online fraud, SHB has invested in security on the SHB SAHA application, providing a comprehensive set of tools for customers to proactively protect their accounts when transacting online. This is also a testament to SHB's commitment to building a safe, modern and customer-centric digital banking environment.

Since its launch, the rate of new customers opening accounts on the SHB SAHA platform has increased sharply, reaching 158% compared to before June, showing the application's appeal to young users and digital customers. At the same time, the rate of transactions made via SAHA also increased by more than 133% compared to the previous period, reflecting a clear shift of customers to new digital channels.

According to experts, new generation banking apps like SHB SAHA are becoming a strategic weapon to help banks retain users and capital in the context of the digital banking market gradually becoming saturated. When all needs from payment, investment, home loans to travel and entertainment are met in a single application, customers will no longer have a reason to leave that platform.

And perhaps, in just a few years, users will no longer recognize which bank they are using - because the bank will have integrated into every financial decision, every transaction, every rhythm of their digital life. The bank of the future is not in the phone, but in each person's life journey.

Source: https://baodautu.vn/ky-nguyen-cong-nghe-cao-va-cuoc-dua-sieu-app-ngan-hang-the-he-moi-d414245.html