Ho Chi Minh City, Vietnam — Vietcombank Remittance, a subsidiary of Vietcombank, has partnered with FPT Corporation to implement the FPT.RCORE platform, aiming to enhance operational efficiency and fully digitalize its remittance services.
As remittances contributed 3.36% to Vietnam’s GDP in 2024, Vietcombank Remittance and FPT are jointly deploying FPT.RCORE — a next-generation core system designed to modernize infrastructure, streamline operations, and enable end-to-end digitalization. This initiative supports the goals of Resolution 57-NQ/TW on advancing science, technology, and national digital transformation.
In 2024, Vietnam received USD 16 billion in remittances, ranking among the world's top 10, with Vietcombank and Vietcombank Remittance capturing 25% of the market share (USD 4.04 billion). Vietcombank Remittance was also recognized for the third consecutive year as "Vietnam’s Best Remittance Company" by Asian Banking & Finance.
Despite strong growth, the company’s existing technology met only 50% of operational needs, prompting the decision to collaborate with FPT a leader in financial technology to develop a scalable, high-performance platform.
Purpose-built for the remittance sector, FPT.RCORE integrates partner and customer management with multi-channel disbursement (cash pick-up, digital wallet transfer, account deposit, home delivery). The platform also supports mobile apps for remote service delivery. Built on Microsoft .NET and cloud technologies, FPT.RCORE offers near real-time processing, automation, and robust security, ensuring compliance with anti-money laundering regulations and enhancing service quality. The project will be completed within nine months, with Vietcombank Remittance providing business expertise and FPT delivering technological solutions.
At the signing ceremony, Mr. Le Hoang Tung, Deputy CEO of Vietcombank and Chairman of Vietcombank Remittance, highlighted: “Digital transformation is key to expanding our operations and competitiveness. FPT.RCORE will be a strong foundation for our future growth.”
Mr. Dao Hong Giang, Executive Vice President and Head of Finance Banking at FPT IS, added: “FPT.RCORE is the first core platform we have developed specifically for the remittance sector, paving the way for specialized solutions in banking and finance.”
This partnership builds on a strong history of collaboration between FPT and Vietcombank across key initiatives, including Core Banking, ATM maintenance, and HR management. As Vietnam’s digital economy accelerates, modernizing technology infrastructure will be critical to the sustainable growth of financial institutions like Vietcombank Remittance.
