On September 25, 2025, Vietnam Prosperity Joint Stock Commercial Bank (VPBank) was honored with the “Customer Experience of the Year – Banking Sector” award by Asian Business Review magazine. This prestigious recognition underscores VPBank’s leadership in digital transformation and its unwavering commitment to enhancing customer experience and sustainable development.
Outshining numerous competitors, VPBank’s Paperless Transaction initiative garnered high praise from the judging panel, comprising senior executives from leading global audit and consulting firms such as Ernst & Young, KPMG, PwC, and Deloitte. The award was evaluated based on criteria including project context, innovation, business and industry impact, operational effectiveness, and adaptability in implementation.
“The standout feature of this initiative is the complete elimination of paper-based documentation. Instead, customers instantly receive digital receipts via email, verified by the bank’s digital signature post-transaction. This not only enhances customer experience but also mitigates risks in identity verification and post-transaction control,” shared a representative from the judging panel.
As a technology pioneer in the banking sector, VPBank has implemented the Paperless Transaction initiative through cutting-edge solutions and technologies. First, digitizing in-branch transactions: Most cash transactions, including deposits, withdrawals, and transfers, are executed on a digital platform, eliminating the need for printed documents. Second, deploying biometric technology: Customers authenticate transactions using facial recognition or other biometric factors, replacing traditional paper-based verification. Third, integrating a digital banking ecosystem: Customers can perform nearly all transactions via Internet Banking, VPBank NEO, and automated machines (ATMs, CDMs), significantly reducing the need for traditional branch visits. Fourth, automating processes: VPBank has deployed over 300 Robotic Process Automation (RPA) workflows, from application processing and approval to customer care, reducing processing times and enhancing overall experience.
Through this initiative, VPBank has revolutionized in-branch transactions, ensuring 100% of deposit, withdrawal, and transfer operations are paperless. Digital receipts with digital signatures sent via email facilitate easy retrieval, reduce transaction processing time by 40%, and save approximately 90,000 sheets of paper monthly.
The initiative also cuts internal operational time by 50%, strengthens risk management, automates regulatory reporting, and achieves a 95% positive customer feedback rate, demonstrating exceptional operational and service quality improvements.
“Beyond enhancing customer experience, this initiative reflects VPBank’s strong commitment to sustainable development, promoting green practices in finance and environmental protection. VPBank plans to expand this initiative across its entire network in Q4 2025,” added a bank representative.
VPBank is also the first bank in Vietnam to launch Flagship branches in both Hanoi and Ho Chi Minh City, featuring modern, high-end transaction spaces integrated with advanced services and technologies to elevate customer experience at every touchpoint.
These efforts have yielded significant results: a 20% increase in individual customers in 2025 compared to 2024; 95% of customer survey responses praising the services; and a notable reduction in negative feedback, with only 5% of responses suggesting improvements.
The Asian Experience Awards, organized by Asian Business Review, celebrate innovative initiatives by leading enterprises that deliver exceptional service experiences in Asia. This award not only affirms VPBank’s leadership in customer experience innovation but also strengthens its brand by enhancing recognition, customer trust, and loyalty. It also highlights VPBank’s commitment to sustainable development, aligned with its ESG strategy and digital transformation vision, establishing it as a modern, socially responsible brand.
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