FPT Accelerates BIDV’s Card Payment Core System Transformation

In November, BIDV and the FPT–OpenWay joint venture successfully completed the migration of BIDV’s card payment core system to Way4, one of the world’s leading card payment processing platforms—achieved in just 18 months. Considered one of the banking industry’s most complex and comprehensive technology upgrade projects, the initiative enhances BIDV’s transaction processing capacity, shortens product time-to-market, and strengthens its position as a pioneer in modern payments.

 

 

Photo 1 – BIDV completes the transition to the modern Way4 card core system

 

Aiming to become a technology-driven retail bank and a pioneer in innovation, BIDV identified the card core system transformation as a key mission within its Retail Banking Development Strategy (2021–2025) and its Digital Transformation Strategy (2021–2025), with a vision toward 2030. The project marks a foundational milestone for ushering in a new era of card operations at the bank.

 

Prior to this project, BIDV’s card core system operated stably on the Cadencie platform, ensuring many years of accurate and efficient transaction processing. However, as technology and customer expectations evolve rapidly, the legacy system could no longer meet future strategic requirements. Upgrading to a modern platform became essential for BIDV to maintain competitiveness and deliver superior customer experiences.

 

The new Way4 Core Card system adopts a centralized management model, an open architecture, and highly flexible configuration capabilities—creating optimal conditions for expanding features and launching new services. Beyond the technological leap, the transition lays a solid foundation for BIDV to accelerate the rollout of modern digital payment products and enhance customer service quality.

 

With Way4—renowned for its flexibility and deep integration with digital ecosystems—BIDV can design, test, and launch new card products efficiently, safely, and in response to market demands.

 

For end users, the transformation offers a significantly improved card experience: seamless online card issuance, Apple Pay and Google Pay compatibility, and instant readiness for spending without waiting periods. User experiences on digital channels such as BIDV SmartBanking and BIDV Direct are also notably enhanced, enabling intuitive and consistent card and transaction management across BIDV’s digital ecosystem.

 

The BIDV Core Card project marks an important milestone in the bank’s digital transformation journey

 

The project officially began on May 10, 2024, and was executed over 18 months—an exceptional timeline for a project of this scale—across three phases:

• Phase 1: Migration of the Switching System and integration with four domestic and international card organizations within five months

• Phase 2: Migration of the Card Management System and integration between the new Card Core and legacy banking applications

• Phase 3: Migration of more than 2,000 ATMs/CRMs integrated with the new Core in 3.5 months, and completion of the Prepaid Card System migration in 1.5 months

 

The transformation is regarded as one of the largest and most complex technology modernization programs in the banking industry. The project affects millions of customers, integrates with a vast number of BIDV legacy applications, and interfaces with an extensive partner ecosystem including NAPAS, international card schemes, e-wallets, and linked banks. The project team migrated 27 million records with 12,000 data fields, while ensuring accuracy, security and uninterrupted service.

 

Shortly after going live, the new core system delivered outstanding performance: accelerated transaction processing, streamlined workflows, and strengthened card security. BIDV has also rapidly launched a series of new card products to meet the evolving needs of both traditional and digital-native customers.

 

The project was implemented through close collaboration between FPT—the local integration partner—and OpenWay, the provider of Way4, a global-leading card payment platform known for its performance, stability, and scalability. Way4 enables BIDV to manage the full card lifecycle, support switching and acquiring, and integrate digital wallets, digital banking services, and omnichannel payments—forming a robust foundation for advanced digital payment innovation.

 

 

Mr. Le Ngoc Lam, CEO of BIDV and Head of the Project Steering Committee, emphasizes the strategic importance of the Core Card project

 

Speaking at the project closing ceremony, Mr. Le Ngoc Lam, CEO of BIDV, stated:

“The Core Card project is a strategic leap in BIDV’s digital transformation roadmap. We highly appreciate the implementation capacity of FPT and OpenWay—a team that combines technological expertise, deep understanding of Vietnam’s banking operations, and global experience deploying world-leading payment platforms.”

 

 

Mr. Tran Dang Hoa of FPT expresses the desire to continue long-term partnership with BIDV

 

From FPT, Mr. Tran Dang Hoa – Chairman of FPT IS said:

“With over 30 years accompanying BIDV and implementing large-scale financial projects, FPT is committed to building a robust and optimized technology foundation for the bank. In the Core Card project, we ensured precision, safety, and system continuity while advising, standardizing processes and applying innovative solutions tailored to Vietnam’s banking operations. The project’s success reflects the strategic partnership between FPT, OpenWay and BIDV. Alongside initiatives in green transformation, Core Banking, BIDV Tradeflat, and various mission-critical systems, we look forward to continuing to create long-term value for BIDV and its customers.”

 

 

Mr. Rudy Gunawan, Board Member of OpenWay Group and CEO of OpenWay Asia, speaks at the event

 

Mr. Rudy Gunawan shared:

“This is one of the most complex yet best-managed projects OpenWay has delivered in Vietnam and the region. BIDV demonstrated exceptional governance, while FPT’s execution enabled completion in just 18 months instead of the usual 30 months. With the modern, scalable Way4 platform, BIDV now possesses an advanced card ecosystem to lead the market in digital payment products, elevate customer experience, and accelerate its digital transformation strategy.”

 

The BIDV Core Card project is not only a technological achievement but also a critical milestone in the bank’s digital transformation journey—delivering a modern, flexible foundation ready to meet customers’ rising expectations.