Singapore, 29 May 2026 – UOB and global technology corporation FPT have signed a Memorandum of Understanding (MoU) to explore strategic collaboration opportunities in artificial intelligence (AI), digital and technology transformation, and financial services innovation. The MoU exchange ceremony took place at the Vietnam - Singapore Tech Connect Forum during General Secretary of the Communist Party of Vietnam and President of the Socialist Republic of Vietnam To Lam’s official visit to Singapore.

Under the MoU, the collaboration will span a broad set of strategic areas, including AI and digital innovation in banking, digital banking transformation, fintech innovation, and regional growth and ecosystem development. The partnership aims to modernise how banking services are designed, delivered, and scaled across UOB’s key markets, leveraging AI, data analytics, intelligent automation, cloud, APIs and modern architecture.

The MoU will also establish a platform for UOB, FPT and ecosystem stakeholders to translate innovation priorities into scalable business opportunities. This includes advancing digital banking platforms, legacy modernisation, payments, digital lending and embedded finance, alongside piloting initiatives in Vietnam and other regional markets. The collaboration will further support cross-border financial services, enterprise expansion and the development of more connected, innovation-driven financial ecosystems. The detailed plan of the MoU, including pilot scope, implementation roadmap, governance model and expected outcomes, will be finalised within the next 90 days.

Lawrence Goh, head of group technology and operations, 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, 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.”

Singapore and the wider APAC region have been among FPT’s strategic markets. As a leading global technology and digital transformation company headquartered in Vietnam, FPT brings strong engineering expertise and deep capabilities across AI, cloud, data, automation and modernisation to over 500 leading enterprises across various sectors. This complements UOB’s regional banking network and supports its transformation ambitions to accelerate the adoption of advanced technologies, including generative and agentic AI, to enhance productivity, risk management and customer experience across the Bank. UOB and FPT’s collaboration will further drive innovation and support growth across Vietnam and the region. This builds on UOB’s longstanding support for Vietnam’s development through continued investment in its local franchise, while strengthening its role as a connector of businesses and opportunities across ASEAN.

UOB deputy chairman and chief executive officer, Wee Ee Cheong, also met with President To Lam on 30 May 2026, during his state visit to Singapore as part of the Shangri-La Dialogue 2026, to discuss the bank’s long-term commitment to Vietnam’s growth and regional integration.

UOB has been operating in Vietnam for more than 30 years, beginning as a representative office in 1993.Today, UOB is the only Singapore bank to have a subsidiary in Vietnam with five branches in Ho Chi Minh City and Hanoi. With a total charter capital of VND 10 trillion ($380.2 million), UOB Vietnam is now the second largest foreign-owned bank in the country. With the integration of the Citi Vietnam's consumer banking business into UOB in July 2025, UOB Vietnam has significantly expanded its customer base, expanding its reach and strengthening its presence in one of ASEAN's fastest-growing markets.

UOB has been actively promoting foreign direct investments (FDI) into Vietnam and also assisting Vietnamese companies to expand globally. Since 2020, the Bank’s FDI Advisory Unit has supported more than 400 companies with a total of about SGD 9 billion ($7.0 billion) in projected investments, creating more than 60,000 job opportunities. This makes UOB one of the most active foreign banks supporting FDI into Vietnam and helping Vietnamese companies expand abroad through trade finance, cross-border cash management and regional banking solutions. As part of its long-term commitment to Vietnam, the bank is building a new headquarters in Ho Chi Minh City. UOB is also studying participation in the Vietnam International Financial Centre (VIFC), which when finalised, would help facilitate capital flows from Singapore and ASEAN into Vietnam and bring international investors closer to opportunities within the VIFC.

Wee Ee Cheong, said: “Vietnam is a key market in UOB’s ASEAN strategy and is one of Southeast Asia’s most dynamic and resilient economies. We see tremendous opportunities in Vietnam’s continued transformation and its growing role as a key hub in ASEAN. For more than three decades, we have remained committed to contributing towards the country’s growth journey and we look forward to deepening our partnership with Vietnam by facilitating cross-border trade, supporting FDI flows and empowering local enterprises to scale sustainably.”