VPBank is the only bank from Vietnam to be honoured with the Red Hat APAC Innovation Award 2025 in the Digital Transformation category.
The Red Hat APAC Innovation Awards 2025, themed “Unlocking the Future,” celebrate organisations that are pioneering the use of open technologies to build competitiveness in the digital age and create lasting business impact. Among the 30 distinguished initiatives across Asia, VPBank is the sole representative from Vietnam’s banking sector, recognised for its large-scale core banking system modernisation project, executed on the Red Hat OpenShift platform.
Red Hat APAC 2025 Awards for VPBank
VPBank has become the first bank in ASEAN to deploy core banking on Red Hat OpenShift.
In a leading role in establishing technology as a pillar for sustainable development, VPBank has managed core banking on a fully open cloud platform as the first bank in the ASEAN region. The project was exceptionally large in scale, involving the migration of over 18 million customer accounts and millions of loan records to the new platform within just 24 hours. This has become one of the largest and most complex banking technology transformation projects in the Asia-Pacific region.
Advancing towards an open architecture has allowed VPBank to automate installations, accelerate product development, optimise operational costs, and ensure the highest levels of performance, security, and stability. More importantly, the new platform has enabled VPBank to significantly reduce time-to-market, seamlessly integrate with the fintech partner ecosystem, and provide customers with a smoother, safer, and more personalised digital banking experience.
VPBank’s Chief Information Technology Officer, Mr. Ong Kok Seng Augustine, commented: “VPBank’s goal is to build a digital-centric platform that encourages agility, resilience, and continuous innovation. Our partnership with Red Hat has helped modernise our core banking platform with greater flexibility, speed, and reliability – essential capabilities in an ever-changing financial landscape. This transformation enables us to serve our customers better, empower our creative teams with confidence, and establish VPBank as a regional leader in technology-enabled banking.”
VPBank is the only representative from Vietnam’s banking industry to receive the prestigious Red Hat award. This international recognition underscores the bank’s long-term digital transformation strategy, reflecting its leadership in applying modern core technologies, improving operational efficiency, and delivering superior customer experiences.
Red Hat Vietnam Country Director, Mrs. Dao Hoang Giang (Jen), responsible for Vietnam, Cambodia, Laos, and Myanmar, shared: “VPBank’s pioneering deployment of the Temenos core banking system on Red Hat OpenShift demonstrates the vision and technical capabilities of a Vietnamese bank reaching regional scale. This platform has helped VPBank achieve flexibility, stability, and exceptional performance, creating a strong foundation for continuous innovation and serving millions of customers every day.”
Through substantial investment in technological infrastructure, VPBank is consolidating its position as Vietnam’s leading bank with top-tier core technology capabilities and is well-positioned to achieve new milestones on its national digital transformation journey.
About VPBank
Vietnam Prosperity Joint Stock Commercial Bank (VPBank) is currently one of Vietnam’s leading joint-stock commercial banks, serving over 30 million customers across its ecosystem, covering all segments and platforms. VPBank ranks among the top commercial banks in terms of total assets, operational efficiency, and profitability, with a strong presence in the retail and SME sectors. VPBank is also at the forefront of digital transformation, aiming to offer the best and fastest financial products and services to its customers.
About Red Hat, Inc.
A leading provider of enterprise open-source software and a pioneer in open hybrid cloud technologies, Red Hat delivers a reliable, consistent, and comprehensive platform for IT innovation and AI applications. In collaboration with its partners and customers, Red Hat helps organisations build, connect, automate, secure, and manage their IT environments, supported by award-winning consulting services and training and certification programmes.