VietinBank and FPT Launch 'Process Automation' Project with akaBot

Recently, Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank) and FPT Corporation officially initiated a project to streamline business processes through the akaBot solution. This partnership signifies a significant shift for VietinBank in leveraging cutting-edge technologies like Robotics and AI in its digital transformation efforts to optimize banking operations and enhance customer experience.

Representatives of VietinBank and FPT attended the project's launching ceremony.

Through this project, VietinBank will leverage FPT’s akaBot intelligent automation solution to implement virtual robots with integrated AI capabilities, streamlining repetitive tasks. This solution not only enhances employee productivity and accelerates full-process digitalization but also lays a strong foundation for VietinBank’s next phase of digital transformation.

As part of the project, VietinBank will automate 10 core processes, with a focus on file transmission and receipt with card organizations, as well as key operations in Trade Finance, including monitoring, fee collection, accounting, and payment processing. This initiative aims to elevate service quality and operational efficiency for customers.

By prioritizing automation, the bank will save thousands of working hours while ensuring 100% accuracy in operations, significantly reducing the risks associated with manual processing. For VietinBank's customers - individuals and businesses - the automation project will expedite transaction processing, ensuring compliance with international financial and trade regulations. This transformation is expected to enhance the overall customer experience by up to 80%.

Since 2021, VietinBank has been leveraging automation technology in its savings book mortgage lending process, processing approximately 3,000 applications per month. This initiative has resulted in a 65% reduction in operating time compared to manual processing. VietinBank’s continuous digital transformation efforts have enabled it to maintain a top-three position in the banking industry’s CIR (cost-to-income ratio) ranking for several years and secure a spot among the top five banks with the highest customer satisfaction in 2024 (according to Decision Lab).

By partnering with FPT to implement a new process automation initiative using Made-in-Vietnam solutions like akaBot, VietinBank aims to strengthen its leadership in banking efficiency. The project is expected to optimize profitability, reduce costs, and enhance the digital banking ecosystem to serve more than 20% of Vietnam's population.

Speaking at the project launch ceremony, Mr. Tran Cong Quynh Lan, Deputy General Director of VietinBank, stated: "The implementation of advanced automation technologies from FPT and akaBot not only enhances operational efficiency by saving working hours for our employees but also improves customer experience, optimizes business performance, and contributes to VietinBank’s digital transformation roadmap for 2023-2025, with a vision towards 2030."

Mr. Nguyen Khai Hoan, Deputy CEO and Chief Financial Officer of FPT Software, FPT Corporation, added: "With three decades of experience in delivering technology solutions to banks and financial institutions worldwide, FPT is committed to supporting VietinBank in this new phase of digital transformation. We anticipate that this partnership will not only drive exceptional operational efficiency for VietinBank but also pave the way for further strategic collaborations in the future."

The akaBot solution, developed by FPT, is currently being utilized by more than 20 Vietnamese banks, with nearly 6,000 virtual robots deployed to fully automate thousands of operations. This automation has resulted in an up to 80% reduction in processing time and an increase in return on investment (ROI) by nearly 300%. In 2023, akaBot, a "Made by FPT" solution, was honored with the Best Automation Solution for Retail Banking award by The Digital Banker, recognizing its ability to create a digital working environment and provide digital human resources, accelerating the digital transformation of Vietnam's finance and banking sector.

At the project launch ceremony, VietinBank and FPT reaffirmed their commitment to close collaboration to ensure timely execution. The complete automation of all targeted processes is expected to be completed in the first half of 2025, aligning with VietinBank's digital transformation roadmap for 2023-2025, with a vision toward 2030, built upon four core pillars: Digitalization, Data, Technology, and Organization/Personnel.