Vietnam is among the fastest growing digital payment markets in the region. According to the SBV, the value of cashless transactions in 2024 is 26 times higher than GDP, with 87% of the adult population accessing financial services. In that context, surface improvements are not enough to create a sustainable competitive advantage.
In the picture of bank digitalization, some organizations are gradually shifting from the thinking of large-scale transformation - simple digitalization of transactions - towards a comprehensive restructuring from the product core. With the launch of the Super Quadrangle, VIB is not only digitizing but also building a personal financial ecosystem with many characteristics of fintech DNA - both ensuring compliance standards and being able to supplement and synchronize multi-channel, while giving customers the right to master.
DNA Fintech From concept to practical operation
DNA Fintech is not only a term to describe the integration of technology in finance, but a characteristic genetic system that creates the identity and core capabilities of a modern digital bank. Elements such as AI, Big Data, Blockchain, Cloud Computing, Open API and Mobile-First philosophy are the foundation for forming a seamless, flexible and highly personalized financial ecosystem.
With the Four Supers, VIB has pioneered the application of the composable banking philosophy - a model applied by many of the world's leading fintechs. Accordingly, each product and each feature is an independent modular, which can be upgraded and flexibly combined according to user needs.
Previously, VIB was the first bank to deploy a 100% online credit card issuance process. Customers can register, receive and use cards right on multiple platforms of VIB (website, MyVIB, Max by VIB) and partners (Zalo, Momo) in just a few minutes - completely without documents. At the same time, the bank enhances personalization through Super Card, allowing customers to proactively choose a refund incentive, statement date and payment method suitable for each stage of use. This is a great step forward as the card product is designed as a real-time customization service instead of a fixed configuration. By October 2024, VIB will be the first bank to provide a platform and service for customers to self-copy and design cards according to their needs, especially the 100% AI card interface in Vietnam through the digitalization process.
VIB not only indexed the card issuance stage but also incorporated technology into the post-issuance experience. Recently released new features are proof. PayFlex allows cardholders to proactively choose the source of money (credit or debt) when spending. PayEase allows converting spending into installment payments immediately or Pay Safe helps enhance security for each transaction.... All are connected in a seamless digital journey. At the same time, AI and data analysis systems help automate limit approval, change limits, personalize incentives, and increase multi-layered transaction security.
The Super Four - Personal financial ecosystem with Fintech DNA
The Four Super set is a new generation personal financial ecosystem empowering users to manage cash flow, spending, and borrowing capital in the most flexible and proactive way. Four main products in the ecosystem include:
Super Card Super personalized credit card: Instead of providing a unified card product, VIB empowers users to design an experience according to their needs: From the refund list, choose the statement date and payment deadline. Each card is a unique product, refined according to behavior and personal priorities.
Super Account - Super Profit Account, brings daily yield of up to 4.3%/year right on flexible spending cash flow, helping to optimize the value of each idle amount. This is a typical example of how VIB applies the composable banking model - combining the advantages of traditional banking products and modern financial technology.
Super Pay - Proactive payment solution, flexible installment payment, safe transactions: Super Pay integrates three outstanding features: PayFlex: Proactively selecting a source of money (credit or debt) for each transaction via VIB Visa card; PayEase: Self-acaction of installment payment, term, operating completely online; PaySafe: Proactive security control - turn on/off payment, OTP, lock/unlock card in real time.
Super Cash Flexible loan solution, allowing users to rotate a limit of up to 1 billion VND between credit cards and cash loans appeared for the first time in Vietnam. Transactions are conducted completely online on the Max by VIB application, with no need for paperwork or early payment fees.
With the Four Super set, VIB not only applies technology, but rebuilds product thinking, shifting from providing services to empowering users. There, technology is not a destination, but a tool to empower customers to master their own financial experience. Once again, VIB has proven and realized its vision of "Leading the card trend".
Experience the Super Quartet here.
