SINGAPORE, June 01 — Global technology corporation FPT and UOB have signed a Memorandum of Understanding (MoU) to explore strategic collaboration opportunities in AI, digital transformation, and financial services innovation.
The MoU exchange ceremony took place at the Vietnam – Singapore Tech Connect Forum during the General Secretary of the Communist Party of Viet Nam and State President H.E. 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 initiative is designed to modernize how banking services are developed, 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 modernization, payments, digital lending, embedded finance, and pilot 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 finalized within the next 90 days.
“The future of financial services will be shaped by how effectively institutions scale AI, modernize 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 APAC region,” said David Nguyen, CEO of FPT Asia Pacific, FPT Corporation.
Mr Lawrence Goh, Head of 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 create long-term value for our customers and businesses.”
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.