Overview
- Industry: Banking & Financial Services
- Customer: LPBank
- Project: Deployment of SmartOTP for LPBank’s retail customers and internal users
SAVYINT successfully provided the core electronic transaction authentication platform (SmartOTP) for LPBank, enabling secure, convenient, and seamless transaction authentication directly within the bank’s digital banking application. The solution strengthens security for both financial and non-financial transactions, reduces reliance on SMS OTP, and supports LPBank in meeting the requirements of Circular No. 50/2024/TT-NHNN and Circular No. 77/2025/TT-NHNN issued by the State Bank of Vietnam.
LPBank’s Need for Enhanced Authentication Security in Digital Banking
Established in 2008, LPBank has built an extensive network across 34 provinces and cities and is one of the 14 banks classified among the credit institutions of systemic importance within Vietnam’s banking system.
Amid growing risks related to impersonation, credential theft, and transaction fraud, as well as the regulatory requirements under Circular No. 50/2024/TT-NHNN and Circular No. 77/2025/TT-NHNN on strengthening security and safety in the provision of online banking services, LPBank – with more than 5 million individual customers using digital banking services – required an authentication solution that complies with State Bank of Vietnam (SBV) regulations and can operate at scale while ensuring strong security, ease of use, and flexible integration with its existing digital banking infrastructure.
At the same time, LPBank needed to strengthen the centralized administration and operation of its authentication system. Activities such as service activation, SmartOTP status management, exception handling, authentication history lookup, and transaction monitoring needed to be managed centrally, transparently, and with full traceability.
To address these requirements, LPBank selected SAVYINT SmartOTP as its core transaction authentication platform, working with SAVIS as the integration and implementation partner to integrate the solution into its digital banking ecosystem. This enables LPBank to progressively reduce its reliance on traditional SMS OTP while establishing a secure and scalable authentication foundation aligned with its long-term digital banking strategy.
The SAVYINT Solution
With extensive experience in authentication and security solutions for the Banking & Financial Services sector, SAVYINT provides SmartOTP as the core technology platform for electronic transaction authentication, comprising the following key components:
1. SmartOTP SDK Integrated Directly into the Mobile Banking Application
The SmartOTP SDK is integrated directly into the LPBank Plus mobile banking application. Through the SDK, the Mobile Banking application can invoke SmartOTP functions at authentication checkpoints throughout the customer transaction journey.
Customers can activate SmartOTP, use biometric authentication where supported, authenticate transactions, and manage their SmartOTP settings directly within the LPBank Plus application. This enables a fast, convenient, and seamless authentication experience while strengthening the bank’s ability to manage transaction risks across its mobile banking channel.
2. Admin Portal for Centralized Administration and Operations
The Admin Portal provides bank staff with centralized capabilities to monitor customers’ SmartOTP status, retrieve authentication information, review OTP transaction history, and handle operational incidents.
The Admin Portal enables centralized management of SmartOTP-related operations, including:
- Managing SmartOTP activation status.
- Locking or deactivating the service.
- Controlling failed PIN attempts.
- Retrieving authentication logs.
- Monitoring transactions authenticated using OTP.
- Configuring relevant system parameters.
The platform also supports monitoring, investigation, and traceability when required, helping strengthen risk management capabilities and maintain transparency throughout system operations.
Deployment Roadmap
The project was implemented in phases:
- Phase 1: Deployment of SmartOTP for individual customers through the LPBank Plus mobile banking application.
- Phase 2: Expansion of SmartOTP to internal users and the bank’s internal applications.
Key Use Cases
SmartOTP Activation and Service Management
- Related operations: Customer registration, SmartOTP activation, and service deactivation when the customer no longer requires the service.
- Purpose: Ensure that customers are properly authenticated before using SmartOTP for transactions through mobile banking.
Transaction Authentication with SmartOTP
- Target users: Individual customers.
- Related operations: When a transaction requires authentication, the mobile banking application invokes the SmartOTP SDK to initiate the transaction authentication process.
- Customers authenticate using a PIN or biometric authentication, depending on the configured authentication method and device capabilities.
- The OTP is generated and validated according to the platform’s security mechanisms, ensuring that a transaction proceeds only after successful user authentication.
PIN Management and Security Controls
- Related operations: PIN changes, forgotten PIN handling, failed-attempt controls, service locking when abnormal activity is detected, and PIN reset where required.
- Purpose: Protect customers’ authentication credentials while minimizing the risk of credential exposure, compromise, or misuse.
Administration and Operations through the Admin Portal
- Target users: Bank operations staff.
- Related operations: Retrieving customers’ SmartOTP information, checking activation status, reviewing authentication history, managing service lock or deactivation status, and handling operational incidents.
- Purpose: Enable the bank to centrally manage and proactively control the SmartOTP environment in day-to-day operations.
Monitoring, Logging, and Traceability
- Related operations: Maintaining authentication logs, including OTP request timestamps, authentication status, processing results, and other information required for investigation and audit purposes.
- Purpose: Strengthen security monitoring capabilities and support the bank’s risk management and investigation activities.
Helping LPBank Strengthen Transaction Security and Customer Experience While Meeting the Requirements of Circular No. 50/2024/TT-NHNN and Circular No. 77/2025/TT-NHNN
Officially going live in June 2026, SmartOTP enables LPBank customers to authenticate transactions directly within the Mobile Banking application, delivering a faster, more convenient, and seamless authentication experience.
For LPBank, the solution strengthens transaction risk management, reduces reliance on SMS OTP, enables centralized administration through the Admin Portal, and provides a scalable foundation for more advanced authentication requirements in the future. The function-based SDK integration model also enables flexible integration, easier maintenance, and long-term alignment with the bank’s digital banking ecosystem. At the same time, LPBank has met the requirements under Circular No. 50/2024/TT-NHNN and Circular No. 77/2025/TT-NHNN issued by the State Bank of Vietnam, with the solution applied consistently to individual customers.
This provides an important foundation for LPBank to strengthen Digital Trust, protect transactions, and enhance the customer experience throughout its digital banking journey.
