Hanoi – SAVYINT and SAVIS GROUP have officially kicked off the project to implement an Open Banking Platform for Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank).
The event marks an important milestone in the development of a secure, standardized, and scalable connectivity platform for the digital finance ecosystem. The kick-off ceremony was attended by representatives from all parties, including Mr. Timothy Nguyen, Chief Executive Officer of SAVYINT Digital; Ms. Rose Nguyen, BD Sales Director of SAVYINT, Mr. Hoang Nguyen Tat, Chief Executive Officer of SAVIS and representatives of Vietcombank.
In line with global trends, open banking has become a strategic priority for financial institutions and banks. The standardization of open APIs is not only a technological requirement and a regulatory compliance mandate, but also a key step that enables banks to enhance competitiveness and develop more flexible digital financial services. These services are designed to better meet customer needs, including greater control over personal data, personalized experiences, more effective financial management, and secure data sharing with third parties.
For Vietcombank, the Open Banking Platform project is being implemented to meet the requirements of Circular No. 64/2024/TT-NHNN and Circular No. 77/2025/TT-NHNN, while ensuring readiness to comply with regulations related to personal data protection, including Personal Data Protection Law No. 91/2025/QH15, Electronic Transactions Law No. 20/2023/QH15, and Decree No. 356/2025/ND-CP.
Based on Vietcombank’s needs and strategic direction, SAVYINT and SAVIS will implement the Open Banking Platform with key components including the Open Banking Portal; Third-Party Provider Management (TPP Management); an internal administration portal, known as TPP Back Office; Consent Management; Key Management System (KMS); customer authentication channels based on Redirect and Decoupled models; API standardization in accordance with Circular No. 64/2024/TT-NHNN; and enhanced security in compliance with Circular No. 77/2025/TT-NHNN.
- The Open Banking Portal will serve as a centralized information gateway and the official point of interaction between the bank and third-party partners.
- TPP Management will enable Vietcombank to comprehensively manage the lifecycle of third-party providers participating in the open banking ecosystem. Meanwhile, the TPP Back Office will allow the bank to monitor, review, approve, and operate the full lifecycle of third-party partners.
- Consent Management will empower account holders to control and manage the sharing of their personal and financial data with third parties.
- Key Management System will centralize key lifecycle management and support digital signing and signature verification through secure communication with Hardware Security Modules (HSMs).
- Authentication and authorization management through Redirect and Decoupled models.
In addition, the project will standardize key API groups, including APIs for general information inquiry, account information, payment initiation, and e-wallet linking, in line with the requirements of Circular No. 64/2024/TT-NHNN.
The project will be carried out under guiding principles such as compliance by design, privacy by design, security by design, API-first architecture, evidence-driven implementation, and sprint-based delivery. This approach ensures that compliance, data protection, and system security requirements are embedded from the design phase, instead of being added at later stages. It also enables early risk identification and helps ensure delivery within the required timeline.
Ms. Rose Nguyen, BD Sales Director of SAVYINT, shared: “With extensive experience in digital banking, data security, cryptography, digital identity, and Open Banking/Open Finance platforms, SAVYINT and SAVIS are committed to accompanying and working closely with Vietcombank to complete the project on schedule, build a stable Open Banking Platform, and create long-term value.”
The kick-off ceremony for the Open Banking Platform development project represents an important milestone in Vietcombank’s roadmap toward open banking and a broader digital finance ecosystem. With the support of SAVYINT and SAVIS, the project is expected to contribute to the development of a modern, compliant, secure, and scalable open banking platform, meeting the evolving needs of the finance and banking sector in the new era.
