Vietnam’s Open Banking Era Is Here: Are You Ready?
Partner with us to transform Vietnam’s Open Banking mandate into a strategic opportunity. WSO2 empowers your bank to move beyond compliance, leveraging a secure, customer-centric framework to drive innovation, foster enhanced financial inclusion, and unlock the full potential of a collaborative ecosystem.
Open Banking: Your Business Advantage
With the State Bank of Vietnam’s push towards Open Banking and digital finance, now is the moment to transform compliance into market leadership and sustainable growth.
Innovation
Retention
New Revenue Streams
Open Banking is a strategic turning point. It's about securely sharing customer-permissioned data via standardized APIs, transforming a regulatory requirement into a powerful engine for innovation and competitive advantage.
Accelerate Revenue and Innovation
Foster new business models, embedded finance, and personalized products through strategic partnerships and API-driven collaboration.
Drive Financial Inclusion
Expand credit access and digital services to underserved segments by leveraging richer customer data with explicit consent.
Expand Customer Reach
Access new customer segments and demographics by leveraging the extensive channels and networks of fintech partners, rather than building new infrastructure.
Secure Growth and Future-Proof Operations
Implement security-by-design, robust consent management, and continuous fraud detection to ensure compliance and future relevance.
We understand the intricacies of the Vietnamese regulatory landscape and the unique operational challenges. Our comprehensive solutions are designed to guide your bank from compliance readiness to strategic leadership in the Open Banking era.
The Technology Blueprint
Effectively design, secure, and manage the lifecycle of your APIs. A robust API management platform is crucial for controlling access, monitoring usage, and ensuring the performance and scalability necessary for Open Banking interactions and broader digital initiatives.
Implement advanced authentication methods and a transparent consent management system. This ensures secure customer interactions and granular control over data sharing, crucial for both regulatory compliance and building user trust.
Transform raw financial data into actionable intelligence. Leveraging advanced analytics enables deeper customer understanding, personalized product development, enhanced risk assessment, and new revenue opportunities from aggregated, consented data.
Build for agility, resilience, and scale. A cloud-native approach, utilizing microservices and containerization, provides the flexibility to rapidly deploy, manage, and evolve your Open Banking solutions, adapting quickly to market demands and regulatory changes.
Once these core components are in place for Open Banking, they can be leveraged across your organization to drive a wide range of digital transformation initiatives, extending their value far beyond initial compliance.
Download Technology BriefVietnam’s Technical Advantage: Navigating Compliance
Vietnam’s Open Banking framework, anchored by Circular 64, establishes clear technical requirements to ensure interoperability, security, and innovation. Explore the key specifications that will define your bank’s success.
Compliance with State Bank of Vietnam–mandated RESTful APIs, JSON data formats, and ISO 20022 ensures seamless integration and alignment with global best practices.
The regulation defines essential API categories (market data, customer data, payments & e-wallets) and sets interoperability requirements across the banking ecosystem.
Secure access is enforced through OAuth 2.0 and OpenID Connect, combined with robust customer consent management to give users full control of their data.
Circular 64 mandates TLS 1.2+, digital signatures, and compliance with ISO 27001 security frameworks, ensuring trust, resilience, and data integrity across all interactions.
Powering Success Through Partnership
Collaboration is key to Open Banking's success in Vietnam. We
connect leading financial institutions with expert System
Integrators, ensuring seamless
implementation and accelerated
innovation.
For Banks: Your Implementation Journey Simplified
While we provide robust Open Banking technology, your bank's specific implementation benefits from specialized expertise. Leverage our extensive network of global and regional System Integrator partners. They are ready to deliver tailored solutions, ensuring your compliance and strategic advantage.
For System Integrators: Join Our Growing Ecosystem
We welcome more innovative SIs to our network. Partner with us to expand your reach and expertise in Vietnam's dynamic Open Banking landscape. Leverage our cutting-edge platform to deliver high-value solutions, unlock new business opportunities, and drive digital transformation for financial institutions across the country.
Existing partners showcase
Unlock What’s Ahead
Experience Personalized Open Banking
Experience a personalized demonstration of Vietnamese Open Banking. Witness firsthand how our platform navigates compliance and unlocks new business potential. Your demo will be tailored to your bank's specific needs and use cases.
Your Questions Answered
Addressing Key Concerns of Vietnamese Banking Leaders
Circular 64/2024/TT-NHNN mandates that banks must ensure the safety and security of their information systems when implementing Open APIs. Our solutions are designed to meet and exceed these requirements by implementing multi-layered authentication (OAuth 2.0 and OpenID Connect), using secure encryption profiles (TLS 1.2+), and providing advanced threat protection for APIs. We also enable continuous monitoring to detect and prevent abnormal or unauthorized access from third parties, and provide tools to log all Open API usage.
Complying with the Open API mandate in Circular 64 requires strategic integration with your core banking systems and other data sources to publish the required API categories. Our expertise streamlines this process, ensuring secure and efficient exposure of necessary APIs without extensive disruption to your existing infrastructure.
ROI can be measured through increased customer acquisition from new channels, improved customer retention through superior services, reduced operational costs from automated processes, and new revenue streams from partnerships and data-driven insights.
By enabling secure data sharing, it allows financial institutions to gain a more holistic view of customers, including those with 'thin files' or informal financial histories. This facilitates expanded access to credit, personalized financial products, and digital services for the unbanked and underserved populations, helping to bridge the financial gap.
Open Finance operates with a 'privacy-by-design' approach. Our solutions ensure your consent management platform is fully transparent and compliant with Decree 13, including requirements for clear consent, data minimization, and secure processing.
Take the Next Step
Ready to unlock the full potential of Open Banking for your institution and prepare for the March 2027 launch? Connect with our specialists to discuss your unique challenges and opportunities.