Paperless transactions - inevitable trend
In the world, paperless banking transactions are accelerating to become a new standard in the digital transformation race. In the US and Europe, the wave of digitizing a series of branches is taking place strongly, gradually eliminating paper records to optimize operations and improve customer experience standards. Thanks to that, processes are streamlined, processing speeds are accelerated and data control capabilities are raised to a new level.
In Vietnam, the foundation for this transformation is ready. The breakthrough development of electronic identification, population data and technologies such as eKYC, biometrics... are opening up an era of paperless transactions at the counter. Not only shortening time and improving accuracy, this model also helps optimize costs, increase security and especially minimize environmental impacts - an important step towards green banking and sustainable development.
Vietnam Prosperity Joint Stock Commercial Bank (VPBank) is one of the pioneering banks to put the paperless transaction model into operation in over 100% of transaction offices nationwide, bringing the "transaction counter 4.0" experience, where all operations are digitized, streamlined and personalized for each customer.
Faster, more convenient, more proactive experience
The highlight of the paperless model at VPBank is the combination of many layers of technology, from customer identification using biometric data, electronic digital signatures to automatic document processing systems. All create a closed process, in which data is created, confirmed and stored entirely in a digital environment.
When transacting at VPBank, right from the check-in step, the system recognizes and displays customer information, helping to shorten verification time during the transaction process. Instead of handwriting on paper as before, customers confirm transactions using OTP, PIN codes on the digital banking application or using biometric authentication right on the tablet at the counter.
Immediately after the transaction is completed, all documents will be sent directly to the customer's email by VPBank, helping customers easily store, look up and completely eliminate the worry of losing or forgetting paper documents.
Representatives of VPBank said that transactions such as depositing money, withdrawing money or transferring money are established directly in the form of electronic documents, with a transaction limit of less than 1 billion VND.
Along with digitalization technologies operating for customers, transaction staff and control levels at VPBank transaction counters also use digital signatures to complete the process, ensuring legality and high safety.
Thanks to the digitization of the entire process, the transaction processing time of customers at VPBank has been reduced by 40%. This model also helps reduce 50% of internal operation time, enhance risk control, and automate reporting according to regulations. After a period of testing at the counter, this model of VPBank received 95% positive feedback from customers about the experience, showing outstanding efficiency in both operation and service quality.
Affirming pioneering position
There is a reality that, although digital banking is developing strongly, there are still a large number of customers who prefer transactions at counters. And therefore, paperless is not replacing but supplementing, creating an additional digital experience channel right at the traditional transaction point. Thanks to that, this model not only serves existing customers but also becomes a "bridge" to attract and transform new customers, gradually getting acquainted with the bank's digital ecosystem.
The deployment of paperless transactions throughout the system marks an important step forward for VPBank in its digital transformation journey. Not only stopping at a product or utility, paperless is becoming a platform for more modern transaction models in the future, such as digital branches or self-service transaction points.
This is also an important step forward in the green banking development strategy, where technology not only serves customer needs but also contributes to environmental protection. By completely eliminating paper documents, VPBank estimates that it can save about 90,000 papers per month.
In 2025, VPBank was awarded the "Customer Experience of the Year - Banking Industry" award by Asian Business Review magazine thanks to its initiative to completely eliminate the use of paper documents. With the message "paperless - no waiting - modern experience", VPBank is gradually redefining the way customers perceive transactions at the counter.
