The Future of Finance: OCB’s Open Banking Model Shines at A80 Expo

Open Banking is hailed as the future of finance, where banks securely share data with third parties (such as fintech companies and enterprises) via application programming interfaces (APIs) with customer consent. OCB is at the forefront of this movement, committed to developing APIs on a highly secure platform that strictly adheres to legal regulations, particularly Circular No. 64/2024/TT-NHNN, ensuring a safe and transparent transaction environment.

Thus far, OCB has successfully launched a range of convenient digital financial services for businesses, including OCB VietQR, instant payment collection, and Open API payroll, which automates the salary payment process directly on the enterprise’s platform.

The bank continuously expands its product ecosystem to swiftly meet market demands. A notable example is OCB Smart Merchant, an intelligent sales and payment management platform and one of the superior digital solutions showcased at this exhibition.

OCB Smart Merchant empowers businesses to manage, monitor activities, orders, revenue, expenses, accounts receivable, and cash flow in real time on a single platform. This streamlines infrastructure, human resource, and operational costs while reducing processing time by up to 97% and operational costs by up to 25% through automated data reconciliation, replacing manual processes prone to errors. Additionally, the solution integrates electronic invoice issuance directly into the sales software, ensuring compliance with Decree 70/2025/ND-CP.

This digitization brings transparency and accuracy to transaction data. As a result, the bank can access real-time data, control, and assess the cash flow of enterprises, build objective credit scores, and design flexible financial packages such as quick working capital loans, revolving loans, or credit limits. This solution is especially beneficial for SMEs and household businesses, facilitating their access to capital.

As of June 30, 2025, the number of Open API transactions connected to OCB increased by 57.9% year-over-year, with a transaction value growth of 184.8%. The average CASA also increased by 31.8%.

State Bank leaders take a commemorative photo at OCB’s booth

At the event, OCB also introduced other prominent digital products, testifying to the bank’s visionary approach to digitization. These include the OCB OMNI application, integrating over 200 features into a single platform and employing the most advanced FIDO security technology. Liobank, a digital bank exclusively for the youth, stands out with its unique features such as “Shake to pay” transfers and the Liobank Visa 2-in-1 debit and credit card. It offers free transactions and an instant 20% cashback on spending… The bank also showcased its wide range of OCB credit cards, easily available with 100% online registration and offering modern payment conveniences and cashback of up to VND 18 million per year, which were highly favored by the market in general and well-received at the A80 exhibition in particular.

“With our strategy focused on individual customers, household businesses, SMEs, startups, green finance, and strong digitization… We are proud that OCB not only provides separate products but also continuously creates a complete digital financial ecosystem, in line with Resolution No. 68 of the Politburo on developing the private economy. We expect that with the strong transformation of the Vietnamese banking industry, where digitization and innovation-driven growth are key to success, comprehensive financial platforms like ours will be OCB’s strong differentiator in the market, contributing to the industry’s powerful impact on the nation’s prosperity.” said Mr. Phạm Hồng Hải, CEO of OCB, at the event.

Notably, visitors to the booth not only experienced comprehensive digital financial solutions but also received limited-edition souvenirs carrying the meaningful message of “Independence – Freedom – Happiness.” These gifts were OCB’s special way of expressing gratitude and patriotic pride.

The exhibition is open from 9:00 A.M. to 10:00 P.M. from August 28 to September 5, 2025. OCB’s booth is located at Booth 11 – H1, Vietnam Exhibition Center, Dong Anh, Hanoi.

This year’s A80 exhibition is organized on a grand scale, showcasing Vietnam’s remarkable progress in various fields. It aims to retrace the country’s glorious history and significant achievements in nation-building and defense over the past 80 years. The exhibition inspires pride in our historical traditions and serves as a motivation for Vietnam to embark on a journey towards a prosperous, civilized, and thriving future.

In the exhibition space, the banking industry, considered the lifeblood of the economy, presented a super modern world of financial technology products. The display area of the Vietnamese banking industry comprehensively depicted its journey alongside the country’s construction and development. Throughout the different phases, the industry has played a pivotal role in adjusting monetary policies to protect the value of the national currency. As a result, the banking industry has contributed to controlling inflation, strengthening macroeconomic stability, and fostering sustainable growth. Additionally, with relentless innovation, the industry has pioneered digitization and modernized payment methods, expanding financial inclusion, enhancing people’s quality of life, and providing a solid foundation for businesses to thrive in the global arena.