← Embedded Finance Index 2026

Bidv

“Can Vietnam's largest state-owned bank successfully transform into a technology-led financial services platform while defending its dominance in corporate lending, trade finance, and retail banking against nimbler digital challengers?”

Founded1957
HQHanoi, Vietnam
IndustryBank / National
The story

BIDV was founded in 1957 as a state development bank focused on construction project financing. Over decades it transformed into a full-service state-owned commercial bank and underwent partial equitization listing on HoSE in 2012. A landmark 2019 strategic investment by KEB Hana Bank injected both capital and international banking expertise. By the early 2020s, BIDV pivoted toward a technology-driven retail bank model—upgrading its core card platform to Way4, launching an Open API developer portal (SmartConnect), and building out supply chain finance (BIDV SCFast) as a distinct product line—positioning itself as Vietnam's largest bank by assets pursuing digital transformation alongside its legacy corporate and retail banking business.

Last 12 months
2025-10
2025-08
2025-01
Product timeline
1957
Founded as the Bank for Construction of Vietnam (Ngân hàng Kiến thiết Việt Nam) under the Ministry of Finance.· banking
1994
Renamed to Bank for Investment and Development of Vietnam (BIDV) and restructured as a state-owned commercial bank.· banking
2012
BIDV listed on the Ho Chi Minh Stock Exchange (HoSE) under the ticker BID following equitization.· ipo
2019
KEB Hana Bank (South Korea) acquired a 15% stake in BIDV for approximately $882 million, the largest FDI deal in Vietnam's banking sector at the time.· banking
2023
Launched BIDV SCFast program for supply chain financing, becoming the market leader in SCF outstanding loans.· lending
2025
Completed migration of Core Card system to the Way4 platform via FPT-OpenWay joint venture, modernizing card payment processing infrastructure.· card
2025
Launched BIDV Open API portal (SmartConnect) enabling fintech and third-party integrations across payments, accounts, and transfers.· banking
Regulated entities
1
regulatory licence held by Bidv
Licence types, jurisdictions and registered entities are in the Embedded Finance Index report.
The stack
5 layers disclosed in Bidv’s embedded-finance stack
Payments / PSP
BIDV Payment Gateway (self-operated)Way4 Core Card Platform (FPT-OpenWay, self-operated)
Banking / BaaS
in the full report
Card issuing
in the full report
Lending
in the full report
FX & payouts
in the full report
Accounting gap: significant
12 more providers across 4 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.