HO CHI MINH CITY, Vietnam, July 17, 2026 /PRNewswire/ — Cake Digital Bank ("Cake"), Vietnam’s AI-first digital-only bank, has been named Vietnam’s Best Digital Bank at the Euromoney’s Awards for Excellence 2026, one of the banking industry’s leading international awards.
The recognition was presented under Euromoney’s Group Level Banking Awards, which assess the overall capabilities of banking institutions, including both digital-only and traditional banks. Rather than recognizing a single product or application, the award evaluates an institution’s overall strategy, technology capabilities, business performance and customer value.
In its editorial assessment Euromoney noted that "Cake Digital Bank’s performance in Vietnam reflects a shift from digital experimentation to scaled, profitable digital banking, achieved through a model built natively on cloud and AI rather than adapted from legacy systems."
Founded in 2021 as a digital bank from inception, Cake has now served more than seven million customers. The bank also became the first digital-only bank in Vietnam to report profitability after just 3.5 years of operation, demonstrating the commercial viability of its digital banking model.
Cake recorded an average revenue per user (ARPU) of US$25 in 2025 and expects to attain ARPU of US$44 in 2026. This reflects Cake’s ability to deepen customer engagement through an expanding portfolio of digital financial services built on its AI and technology platform.
Cake’s business strategy centers on building long-term customer relationships through a fully digital and highly personalized banking experience. Its single digital platform integrates a comprehensive range of retail financial services, including account opening, payments, savings, lending and investment products. Artificial intelligence and data science are embedded across the customer journey to continuously personalize services based on individual needs and behaviors.
The bank also maintains internationally recognized standards in cybersecurity and risk management, including PCI DSS 4.0.1 Level 1, PCI 3DS, ISO/IEC 27001:2022, FIDO2, and ISO/IEC 30107-3 Level 2 facial biometric authentication. These capabilities enable Cake to deliver secure, personalized banking services at scale while serving millions of users.
Beyond its proprietary platform, Cake has developed a broad digital financial ecosystem through partnerships spanning retail, telecommunications, transportation, insurance and digital services. These partnerships extend the bank’s potential reach to more than 80 million users across Vietnam’s digital economy, supporting broader access to modern financial services and financial inclusion, particularly for customer segments that have been underserved by traditional banks.
Commenting on the recognition, Mr. Nguyen Huu Quang, CEO of Cake Digital Bank, said "This award recognizes the strategy we have pursued since the beginning: using AI and data science to understand every customer as an individual, rather than serving everyone through a one-size-fits-all model. In just over five years, we have demonstrated that a digital-only bank in Vietnam can achieve rapid growth, operate profitably and deliver personalized experiences at the scale of millions of customers. This provides a strong foundation for our vision of becoming a leading Next Gen AI Bank in the region while expanding financial inclusion and making modern banking more accessible to people across Vietnam."
The award from Euromoney extends the series of international accolades for Cake. Earlier, the bank was named Best Digital Bank in Vietnam 2025 by International Banker. In 2026, Cake also received two HR Asia Awards: Best Companies to Work for in Asia and the Tech Empowerment Awards.
Together, these recognitions reflect Cake’s consistent strategy of building a customer-centric digital bank while making long-term investments in people, technology and innovation to support sustainable growth.
The Euromoney Awards for Excellence 2026 ceremony is scheduled to take place in September 2026.
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