Over more than 30 years of establishment and development, the Co-operative Bank of Vietnam (Co-opBank) has firmly affirmed its central role in connecting and supporting the People’s Credit Fund (PCF) system toward sustainable and stable growth. This three-decade journey not only strengthens Co-opBank’s reputation but also demonstrates its persistent efforts in building a comprehensive digital “ecosystem” to optimize the experience of customers and PCF members.
Co-opBank has focused on investing in research and implementing convenient digital banking products and services
Co-opBank’s digital “ecosystem” has been built and strengthened upon key pillars: the application of modern technology, the development of digital banking infrastructure, and the diversification of digital products and services. All these efforts aim to promptly meet the increasing needs of customers and the PCF system.
Promoting digital transformation and accompanying PCFs
In order to help PCFs adapt to the trend of digital transformation, Co-opBank has focused on investing in research and deploying convenient digital banking products and services. To date, nearly 1,000 PCFs have joined Co-opBank’s payment network with various services such as 24/7 fast money transfer, internal fund transfer, bill payment, and ticket payment. Users can easily make transfers and pay for utilities such as electricity, water, telecommunications, and internet quickly and conveniently, thereby enhancing management efficiency and improving the quality of financial services at the grassroots level.
Co-opBank’s products and services contributed to enhancing the competitiveness of the PCF system
As the focal institution, Co-opBank has played a key role in driving comprehensive, positive, and sustainable transformation for PCFs through outstanding digital solutions such as: enhancing service accessibility via the Mobile Banking application with nearly 20 modern features, enabling people especially in rural areas to conduct transactions safely and conveniently; improving financial utilities through the Co-opBank Napas chip card, which offers a high overdraft limit, providing customers with greater flexibility in spending and investment; supporting management and operations through payroll entrustment services, the Co-opSmart application for financial education and brand promotion, and the PRMS system that facilitates effective monitoring and supervision using data from the State Bank of Vietnam; developing 24/7 digital banking services with the trio of digital products launched in March 2024: CFebiz, CFeAM, and CFePCF—designed to strengthen connectivity and meet transaction demands anytime, anywhere; and expanding modern payment solutions with VNPAY-QR, VNPAY SmartPOS, VNPAY PhonePOS, Voice OTT, and smart speaker payments, offering diverse options for customers and PCF members.
In parallel with supporting the PCFs, Co-opBank also focuses on providing financial products for individuals, small and medium-sized enterprises, and cooperatives particularly in rural and mountainous areas where access to banking services remains limited.
A foundation for sustainable development
Developing a digital “ecosystem” to optimize customer and PCF member experiences is no longer an option but a necessity arising from Co-opBank’s practical implementation of digital products and banking services. By making synchronized investments in technical infrastructure, applying new technologies, and ensuring information security standards, Co-opBank has built a financial – digital ecosystem that is scalable, adaptable, and stable serving as a sustainable foundation amid the rapid transformations of the market.
PCF members using Co-opBank’s services
At the same time, in its digitalization journey, Co-opBank places particular emphasis on system security and technological safety. The Bank continuously invests in and upgrades its information technology infrastructure, from the Data Center and Headquarters to all Branches and Transaction Offices across the network. This strategic move ensures that every product and service offered to customers operates safely and stably, while adhering to the highest information security standards.
A key highlight in Co-opBank’s sustainable development strategy lies in harmoniously combining digital transformation with the goal of financial inclusion. Every digital solution implemented aims to enhance customer value while strengthening governance capacity and the competitiveness of the PCF system. This is what enables Co-opBank to maintain its pivotal role as the leading institution connecting the PCF network, while expanding its influence in promoting community finance, particularly in rural areas.
As a result, Co-opBank has not only expanded access to digital banking services for millions of customers but also laid a solid foundation for the stable and long-term growth of the entire system.
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Over the past three decades, Co-opBank has remained steadfast in its mission to innovate and apply modern banking technologies to promote cashless payments, enhance the quality of financial services, and expand safe, convenient access to digital banking for communities. Through these efforts, Co-opBank continues to reaffirm its vital role in driving economic development especially in rural areas, where Co-opBank and the PCF network are working hand in hand to create sustainable value for society.
Co-opBank’s digital ecosystem in numbers
(As of August 31, 2025)
Nearly 410,000 registered Co-opBank Mobile Banking accounts
Over 510,000 payment accounts
623 organizations entrusted with payroll services
753 PCFs connected to the CFePCF system
1,046 activated Co-opBank CFeBiz accounts
Along with these, a wide range of digital banking products and services continue to accompany Co-opBank’s customers and PCF members.
