UOB & FPT sign AI banking partnership for Asia-Pacific
Tue, 2nd Jun 2026 (Today)
UOB and FPT have signed a memorandum of understanding to explore collaboration in artificial intelligence, technology transformation and financial services innovation, with a focus on banking and regional market development.
The partnership will cover AI and digital innovation in banking, digital banking transformation, fintech and broader ecosystem development. The two companies will also examine projects involving digital banking platforms, legacy system modernisation, payments, digital lending and embedded finance.
The arrangement links one of Southeast Asia's largest banking groups with a Vietnam-headquartered technology company expanding across Asia-Pacific. It also reflects rising interest among banks in using AI, data analytics, automation and cloud-based systems to reshape product development and internal operations.
The collaboration is intended to support banking services across UOB's core markets. The bank is headquartered in Singapore and has banking subsidiaries in China, Indonesia, Malaysia, Thailand and Vietnam, alongside a wider network of branches and offices in 19 markets.
FPT, which operates in more than 30 countries and territories, said the partnership would provide a platform for the two companies and other stakeholders to turn innovation priorities into business opportunities. Initial pilots may be considered in Vietnam and other regional markets.
The companies expect to finalise a more detailed plan within 90 days, including the scope of pilots, an implementation roadmap, governance arrangements and expected outcomes. The memorandum therefore serves as an initial framework rather than a final operating agreement.
Regional focus
Vietnam features prominently in the plans. UOB said the tie-up builds on its longer-term investment in the country, while FPT described Singapore and the wider Asia-Pacific region as strategic growth markets.
Cross-border financial services and enterprise expansion are also part of the discussions. The companies aim to support more connected financial ecosystems across Vietnam and the wider region, an area of growing focus for lenders and technology suppliers as corporate clients seek smoother transactions and financing across ASEAN markets.
For UOB, the agreement is part of a broader effort to modernise internal architecture and adopt newer forms of AI. Banks across the region have been weighing how to use generative and agentic AI to improve productivity, risk controls and customer service while meeting compliance and governance requirements.
For FPT, the memorandum adds a banking relationship in a sector investing heavily in platform renewal and automation. The company reported revenue of USD $2.66 billion in 2025 and employs more than 54,000 people.
Senior executives from both sides attended the signing. Gillian Chua, Head of Strategic Alliances and Sourcing, Group Technology and Operations at UOB, and David Nguyen, Chief Executive Officer of FPT Asia Pacific, signed the memorandum. Lawrence Goh, Head of Group Technology and Operations at UOB, and Nguyen Van Khoa, Group Chief Executive Officer of FPT, witnessed the exchange.
Lawrence Goh outlined the bank's aims for the partnership.
"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," said Goh.
David Nguyen said the companies see a broader regional opportunity in financial services.
"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," said Nguyen.