Published by Wanda Rich
Posted on January 15, 2025
San Antonio, Texas – December 23, 2024 – Futurex, a leader in enterprise data security, has partnered with Cake, Vietnam's largest digital bank by user base, revenue, and product varieties, to set a new benchmark in secure payment processing through cloud payment HSM technology. Cake and Futurex have delivered Vietnam's first fully cloud-based Card Management System utilizing Visa Cloud Connect, operating entirely on cloud payment HSM. This marks a significant milestone in the financial services landscape.
Cake, known for its seamless and cutting-edge digital banking experiences, serves over 5 million customers across Vietnam. It offers a comprehensive suite of financial services, including savings, loans, and AI-driven tools for secure and efficient online transactions. With Futurex's globally distributed cloud payment HSM infrastructure, Cake has successfully integrated a robust cryptographic platform that provides top-tier security, scalability, and compliance for its payment ecosystem.
"At Cake, we continuously seek innovative AI and banking technologies to enhance customer experiences while maintaining the highest standards of security," said Mr. Hien Tu - CTO of Cake. "Futurex's cloud payment HSM solution has been instrumental to our cloud initiatives, enabling us to scale payment services efficiently, minimize capital expenditures, and deliver seamless service to our clients - solidifying our reputation as a leader in financial technology."
Futurex's cloud payment HSM solutions span five continents and empower Cake to streamline its operations while adhering to rigorous regulatory standards. This partnership underlines Cake's ambition to leverage advanced technologies and cryptographic solutions to redefine banking in Vietnam. Futurex's hybrid cloud architecture ensures a smooth migration to this secure environment, allowing Cake to scale its services without disruption.
"With Cake's innovative vision and our cutting-edge cloud payment HSM technology, this collaboration signifies a breakthrough in secure financial transactions," said Adam Cason, VP of Global Alliances of Futurex. "We are proud to support Cake in achieving a fully digital and secure transaction environment for their customers and setting a benchmark for other financial institutions in the APAC region."
This achievement highlights the growing adoption of cloud-based security solutions among financial institutions in APAC, paving the way for scalable, compliant, and cost-effective payment ecosystems.
For further information about this collaboration and the innovative solutions, visit www.futurex.com or https://cake.vn/en
About Futurex:
For over 40 years, Futurex has been an award-winning leader and innovator in the encryption market, delivering uncompromising enterprise-grade data security solutions. Over 15,000 organizations worldwide trust Futurex to provide groundbreaking hardware security modules, key management servers, and cloud HSM solutions.
Futurex is headquartered outside of San Antonio, Texas, with regional offices worldwide and over a dozen data centers across five continents and delivers unmatched support for its clients' mission-critical data encryption and key management requirements.
About Cake Digital Bank:
Cake Digital Bank (Cake) launched in January 2021 in Vietnam. Cake is a digital-only bank that applies AI in the entire banking process with the orientation of "Next GenAI Bank". By the end of 2024, Cake Digital Bank serves more than 5 million customers and provides a full range of personal financial services of the banking sector, including: bank transfer, payment, savings, investment, consumer loans, BNPL, credit cards, etc. In Vietnam, Cake is the digital-only bank that meets the ISO/IEC 30107-3 standard for facial biometrics; Cake also meets the highest standard for payment card data security - PCI DSS 4.0 level 1. In 2024, The Asian Banker recognized Cake as the "Best AI Technology Implementation". At the same time, Euromoney also voted Cake as "Rising Star 2024."
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