Representatives of SHB and Huawei signed the strategic cooperation agreement. — Photos courtesy of SHB

HÀ NỘI — Saigon – Hanoi Commercial Joint Stock Bank (SHB) and Huawei have officially signed a strategic cooperation agreement, marking a significant milestone in SHB’s comprehensive and accelerated transformation journey, while underscoring its role in implementing national policies on science and technology development, innovation and digital transformation.

The event goes beyond a cooperation agreement between one of Việt Nam’s leading private joint-stock commercial banks and a global technology group. It reflects SHB’s long-term vision and determination to redefine its growth model, strengthen competitiveness, accelerate digitalisation and contribute to the development of Việt Nam’s digital economy.

As the country enters a new phase of development, where science, technology, innovation and digital transformation are identified as key drivers of rapid and sustainable growth, SHB is taking strategic, systematic and forward-looking steps. The partnership with Huawei represents a key component of this roadmap, highlighting SHB’s ambition not only to optimise banking operations through technology but also to build a new development model in which the bank acts as a connector within customer ecosystems in the digital economy.

SHB Vice Chairman and Deputy CEO Đỗ Quang Vinh delivers a speech at the signing ceremony.

Speaking at the signing ceremony, SHB Vice Chairman and Deputy CEO Đỗ Quang Vinh said the collaboration with Huawei is a breakthrough move that demonstrates the bank’s long-term vision and global ambitions. He emphasised that technology is a core driver for enhancing competitiveness, improving operational efficiency and delivering better customer experiences. Through this partnership, SHB aims to accelerate its transformation while contributing to innovation, digital economic growth and sustainable national development.

Under the agreement, the two sides will focus on three key pillars: advancing digitalisation and modernisation across banking operations; building an open, flexible and future-ready technology architecture; and enhancing operational resilience with high levels of stability, security and system reliability.

Huawei will act as a strategic advisory partner, supporting SHB in developing its transformation roadmap, designing technology architecture, building data platforms and deploying advanced solutions. With extensive global experience working with major financial institutions, Huawei is expected to help SHB achieve system-wide breakthroughs and build a modern, secure, flexible and sustainable digital bank aligned with international standards.

Beyond infrastructure upgrades, the partnership is also expected to bring deeper value, including expertise in large-scale technology architecture, data and cloud platform development, enhanced system governance and the gradual establishment of data-driven, artificial intelligence (AI)-enabled and automated operations.

Spawn Fan, President of Huawei Enterprise Business Group for Asia-Pacific shared at the event.

Spawn Fan, President of Huawei Enterprise Business Group for Asia-Pacific, said the partnership marks an important milestone in Huawei’s expansion in Việt Nam. He expressed confidence that Huawei’s advanced technology solutions will support SHB’s strong transformation given the bank’s position in both domestic and international markets.

Technology underpinning an ecosystem strategy

Identifying technology as a strategic pillar, SHB is restructuring its operating model based on the 5 FIRST framework: Data + AI First, People First, Cloud First, Security First and Mobile First.

Under this approach, data and AI are placed at the centre of decision-making, from customer insights and behavioural forecasting to risk assessment and product personalisation. The People First principle ensures that technology serves customers and empowers employees. Cloud First focuses on building scalable modern infrastructure while Security First prioritises system and data protection as the foundation of trust and sustainable growth. Mobile First recognises mobile devices as the primary touchpoint in digital banking.

This framework enables SHB to deliver a more modern, flexible, convenient and secure customer experience while strengthening its ability to serve large corporate clients, supply chains, strategic partners and individual customers within an integrated financial ecosystem.

The partnership with Huawei comes as SHB pursues a broader strategic direction: developing partner ecosystems as a long-term growth driver. Rather than approaching customers individually, SHB targets entire ecosystems centred on key clients. From a leading corporation or anchor enterprise, the bank expands its offerings to subsidiaries, suppliers, distributors, agents, partners, employees and end customers, creating multi-layered growth opportunities.

Collaborations with major technology corporations such as Huawei are part of SHB’s long-term strategy to become a top-performing bank in terms of efficiency, the most favoured digital bank and a leading retail bank. The bank also aims to be a top provider of capital, financial products and services to strategic corporate clients, both private and State-owned, across supply chains, value chains, ecosystems, green development initiatives and retail segments.

Looking ahead to 2035, SHB targets becoming a leading modern retail bank, green bank and digital bank in the region.

Beyond adopting new technologies, SHB is also striving to expand into regional and international markets, reinforcing its position as a modern, efficient and innovative bank with a clear strategic vision. This aligns with the country’s broader development orientation, where digital transformation serves as a catalyst for growth and breakthroughs in a new era.

The cooperation between SHB and Huawei not only marks a new chapter for both organisations but also represents a concrete step in strengthening strategic linkages at the national level. — VNS