Be Group and Vietnam Prosperity Bank (#VPBank) have come together in a long-term strategic partnership to launch a new e-banking solution named Cake.
The digital bank Cake will provide services and products akin to a traditional bank like transfer-receiving of money, issuance of debit cards, etc. and let customers make transactions through their digital signatures with its e-KYC system. The services and products are all licensed through VPBank by the State Bank of Vietnam.
The services will be hosted on the Be application and Cake will be catering over 10 million customers, which makes for one-third of the Vietnam ride-hailing market. The launch of Cake marks the direct appearance of a digital bank on the interface of a ride-hailing app for the first time in Vietnam.
Additionally, Cake will offer free card issuance and free lifetime service directly to the account holder’s home.
In a statement, CEO of Be Group, #Nguyen Hoang said that the new e-banking will not be limiting to a new payment method but will encompass new technology that can be integrated into everyday lives through devices.
With Cake, #BeGroup is expected to earn the “Made in Vietnam” tag and an edge over foreign competitors.