Present in Vietnam since 2018, CIMB offer a digital first smartphone-enabled service for customers that want to open an account immediately, get a loan, check their balances easily and so on. Its electronic e-KYC (Know Your Customer) on-boarding capabilities for virtual or physical cards, selfie feature to aid security, transaction signing, in-app chat and other digital features helped the bank win Best Digital Bank of Vietnam at the virtual RBI Asia Trailblazer Awards 2021. Innovative partnerships with the Toss super-app and Finhay to embed finance in customers digital lives and spread ecosystem links were also noteworthy.

Viva Republica, the operator of the Toss app, and CIMB jointly launched a co-branded virtual card in July 2020, followed by a physical debit card in December. The eKYC solution managed by CIMB is a key element in the partnership, with Toss bringing considerable reach. Various payment, data checking, bill pay and other options help to embed the solution into customers’ everyday lives, helped by good user experience (UX) design and fast ease-of-use.

The bank’s customer base grew sharply after its launch and has increased a further 171% by the end of 2020 following its ‘embedded finance’ partnership deals. Customer spending doubled and transaction volumes are up as interactivity and engagement continue to rise.

In May 2021, CIMB Vietnam and Finhay partnered to launch a co-branded virtual debit card on the Finhay app, giving birth to the country’s first-ever 3-in-1 bank account that can be opened and maintained straight from the Finhay app, using all of the banking functionality provided by CIMB. All-in-one spending, saving, investment and other such options become possible thanks to the security and authentication capabilities that the bank brings. Open application programming interfaces (APIs) power the linkages in the same way that consumers access an Uber taxi via its app, which links to Google Maps, payment functions and partner services to make it work.

The innovative technology and embedded finance ecosystem partnerships that CIMB is pioneering in Vietnam point the way towards the future of financial services.


The Retail Banker International Asia Trailblazer Awards is an annual platform that celebrates the best in class retail banking institutions and individuals for their innovative service offering and commitment to customer excellence.

If you would like to share your incredible consumer finance journey, then register for the 13th Annual Retail Banker International Asia Trailblazer Awards 2022 and submit your entry!