Cake by VPBank Takes Gold at Qorus-Infosys Finacle Banking Innovation Awards 2026

Cake by VPBank won Gold at the Qorus-Infosys Finacle Banking Innovation Awards 2026 for its initiative, "Reinventing Financial Experiences Through an AI-First Banking Model." The Vietnamese digital-only bank was the only financial institution from Vietnam recognized at this year's awards, PR Newswire APAC reported on October 31, 2026.

Cake's AI-First Model Takes Gold in Rome

Winners were celebrated in Rome, Italy, during Infosys Finacle Conclave 2026. The 13th edition of the awards attracted 538 submissions from 206 financial institutions across 68 countries, with 37 institutions recognized across ten award categories. Selection combined voting by industry peers with evaluation by an expert jury of 81 senior banking executives.

Cake by VPBank was built as a digital-only bank from the outset, embedding AI, data and automation into its technology architecture, operating model and customer journeys. The bank applies AI across onboarding, credit assessment, fraud prevention, risk management, customer service and personalized recommendations, supported by independently developed core banking and card management systems.

Award-winning institutions included Santander, Commonwealth Bank, DBS, Maybank and CaixaBank. Santander closed its Webster Bank acquisition in August and expects $800 million in savings from technology integration and vendor consolidation, American City Business Journals reported on October 29, 2026.

John Berry, Chairman of Qorus, said the banking industry is entering a new era in which AI is becoming integral to innovation. Nguyen Huu Quang, CEO of Cake Digital Bank, said: "Winning Gold at the Qorus-Infosys Finacle Banking Innovation Awards is a meaningful international recognition of Cake's AI-first banking model."

Cake's Customer and Revenue Figures

According to akta.pro company records, Cake reached 6.2 million customers after five years of operation, a milestone announced in January 2026, and has recorded a cumulative transaction value of USD 13 billion since launch. The same records show Cake launched its GlobalX international remittance service in March 2026 and a fraud transaction alert feature in June 2026.

Cake reported more than 8 million customers nearly six years after launch, positive EBITDA in Q3 2024, 173% year-on-year revenue growth in 2025 and 121% growth in 2026. Average revenue per user rose from USD 12 in 2024 to USD 44 in 2026.

How Other Digital Banks Compare

Nubank cofounder Cristina Junqueira said leaning into convenience helped the digital bank break into the American fintech market, Business Insider reported on October 29, 2026. Sheikh Maktoum met Standard Chartered CEO Bill Winters to discuss global banking and emerging opportunities, GulfNews reported on October 29, 2026.

Cake's Euromoney Recognition

In September 2026, Cake was named "Vietnam's Best Digital Bank" by Euromoney under its Group Level Banking Awards, recognizing the bank's progress in strategy, technology and business performance.