Singapore – United Overseas Bank (UOB) and FPT Corporation have signed a memorandum of understanding (MoU) to explore collaboration opportunities in artificial intelligence (AI), digital transformation, and financial services innovation.
The MoU was exchanged during the Vietnam–Singapore Tech Connect Forum, held as part of the official visit of To Lam to Singapore.
Under the agreement, the two organisations will explore cooperation across several strategic areas, including AI and digital innovation in banking, digital banking transformation, fintech innovation, and regional ecosystem development. The partnership will focus on modernising banking services through the use of AI, data analytics, intelligent automation, cloud technologies, application programming interfaces (APIs), and modern technology architecture.
The collaboration is also intended to create a platform for UOB, FPT, and other ecosystem stakeholders to develop and scale business opportunities. Areas of focus include digital banking platforms, legacy system modernisation, payments, digital lending, and embedded finance. The parties also plan to pilot initiatives in Vietnam and other regional markets.
In addition, the partnership aims to support cross-border financial services, enterprise expansion, and the development of connected financial ecosystems. According to the companies, a detailed implementation plan covering pilot programmes, governance structures, timelines, and expected outcomes is expected to be finalised within the next 90 days.
Commenting on the agreement, Lawrence Goh, Head of Group Technology and Operations at UOB, said, “This MoU reflects UOB’s strategic intent to build a future-ready bank through strong technology foundations, responsible AI and purposeful partnerships. Together with FPT, we will explore practical opportunities to modernise our architecture, improve development productivity, scale AI responsibly and develop innovative solutions that can create long-term value for our customers and businesses.”
David Nguyen, CEO of FPT Asia Pacific at FPT Corporation, said, “The future of financial services will be shaped by how effectively institutions scale AI, modernise digital platforms, and strengthen cross-border connectivity. Together with UOB, we aim to build more scalable, AI-first models while opening stronger pathways for innovation, enterprise growth, and ecosystem connectivity across Vietnam, Singapore, and the wider region.”
The agreement comes as both organisations seek to expand the use of advanced technologies in financial services. FPT, a Vietnam-headquartered technology and digital transformation company, provides services in AI, cloud computing, data, automation, and modernisation for enterprises across multiple industries. The company said its capabilities complement UOB’s regional banking network and the bank’s ongoing efforts to adopt technologies such as generative and agentic AI to improve productivity, risk management, and customer experience.
The partnership also builds on UOB’s longstanding presence in Vietnam and its broader strategy of supporting business connectivity and economic growth across ASEAN.
