Cake Digital Bank has established itself as a prominent player in the banking sector, particularly in Vietnam, due to its innovative use of AI technology. The recent accolade from The Asian Banker, which recognised Cake as a self-developed bank that has effectively implemented AI technology, sets it apart from its competitors. With an impressive 4.4 million users and a mobilisation of over $308 million since its inception, Cake has demonstrated significant growth and impact in the financial realm.
What distinguishes Cake is its comprehensive array of products designed to cater to the diverse financial needs of its clientele, encompassing account opening, credit cards, savings, and consumer loans. By adeptly integrating big data analysis and AI throughout its operations, from the back office to the front office, Cake ensures that all transactions are processed online and approvals are completed within minutes, thus enhancing the overall customer experience.
Looking towards the future, Cake aims to assert itself as Vietnam’s foremost digital GenAI bank by 2024. CEO Nguyen Huu Quang expressed gratitude for The Asian Banker’s recognition, affirming Cake’s commitment to weaving AI into every facet of the customer journey to provide a seamless and user-friendly experience.
In addition to its accolades from The Asian Banker, Cake Digital Bank has also attained the distinction of being the first digital bank in Vietnam to receive the international ISO/IEC 30107-3 certificate for facial biometric recognition. This state-of-the-art solution, developed in-house by Cake’s Vietnamese technology engineers, underscores the bank’s dedication to harnessing technology for an enhanced user experience.
The Asian Banker Excellence in Retail Finance and Technology Innovation Vietnam Awards 2024 is a highly esteemed programme that honours exceptional products and business applications in the retail banking and financial sector. Cake’s pioneering AI technology and market-leading financial services were lauded by The Asian Banker, further solidifying its position among the top financial institutions in the country.
Amidst the flourishing digital technology industry in Vietnam, Cake Digital Bank stands at the forefront of this growth, leading the way with its forward-thinking approach. Its dedication to revolutionising the banking experience through AI technology has not only garnered recognition from industry experts but has also resonated with millions of users who have embraced the convenience and efficiency that Cake has to offer.