Übank by VP Bank

About the Bank
70 percent of Vietnam’s population, particularly the young generation, was underserved by the banking sector. To reimagine banking for this segment, VP Bank launched Ü Bank, as a digital-first subsidiary, providing all necessary banking services through a mobile app, eliminating the need to visit the branch.

The bank has seen 60 percent saving in operational cost, 25 percent increase in new customers acquired in the last quarter and 30 percent increase in the transaction volumes. The bank has also seen a 65 percent saving in time to launch new products. One of this being a game changing product for Ü Bank in Vietnam – Usuper. This is a unique product which gives its customers the flexibility of a current account while giving high rate of interest for the amount unutilized.

"Übank is one of the first digital neo banks by VP Bank, One of the largest Private sector bank and FE CREDIT, a market leader in consumer lending in Vietnam. Übank aims to become the leading technological bank in providing basic banking & financial solutions solely through a digital platform. The innovation journey is achieved by the state-of-the-art Finacle platform from Infosys. The Finacle-as-a-Service (FaaS) has not only helped in launching the core banking platform in a short span of 6 months, but also played a critical role in interfacing with all the partners and payment platforms through the readily available APIs & Microservices. Definitely Übank is on top gear in achieving 5 million accounts by 2025."

Manoranjan Sahu
Chief Technology Officer,
Übank