This collaboration will see BPC provide the end-to-end payment experience that is core to Cake’s concept as a customer-centric bank with the goal of building a simple, trusted, and socially delightful digital bank. Started in January 2021, Cake is a collaboration between Be Group (the organisation behind Vietnam’s ‘Be’ ride-hailing app) and a Vietnam-based bank, VPBank. The bank is building a lifestyle banking application. Integrated into Be’s interface, it enables users to open a banking account online in two minutes and transfer or receive money, pay bills, invest, and make deposits using the latest technology.
Cake can enable as many as ten million existing Be customers and drivers, many of whom are young professionals and key drivers of the digital economy, to access financial services. Cake’s products and services are fully licenced by the State Bank of Vietnam through VPBank, with Be Group’s beFinancial managing the operations of the new digital bank.
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