How Cake’s AI‑Powered Cloud Platform Turned It Into Vietnam’s First Profitable Digital Bank

The Euromoney Group Level Banking Awards evaluate banks on strategy, technology, performance and customer value. In September, Euromoney named Cake Digital Bank Vietnam’s Best Digital Bank 2026, noting its shift from digital experimentation to a scaled, profitable operation.

Cake now serves more than 7.6 million customers via a single digital platform that offers payments, savings, credit, cards, investments and international money transfers. Its partner ecosystem includes retail, telecom, transport, insurance and other digital services.

From the start, Cake built its infrastructure on cloud computing and artificial intelligence. AI and data science continuously analyse customer behaviour, allowing the bank to tailor products and services to individual needs as the user base expands.

After 3.5 years of operation, Cake announced it had become the first fully digital bank in Vietnam to achieve profitability. Its average revenue per user (ARPU) reached US$25 in 2025 and is projected to rise to US$44 in 2026.

CEO Nguyen Huu Quang said, “The ‘Vietnam’s Best Digital Bank 2026’ award marks a new stage in Cake’s development. Through digital financial services, we are delivering faster, more accessible banking while scaling personalization and generating tangible business results.”

The bank’s success shows how cloud‑based AI can turn data into personalized financial products, drive rapid customer growth and deliver solid financial performance – a model other emerging markets may seek to replicate.

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