Lotte Innovate has been selected as the preferred negotiation partner for IBK Corporate Bank's Vietnam IT project.

Lotte Innovation has been selected as the preferred negotiation partner for the IT project to establish a Vietnamese subsidiary of IBK Corporate Bank, marking a further step for Korean financial IT companies to enter the Southeast Asian market.

Lotte Innovation announced on April 27, 2026, that it was chosen as the preferred negotiation partner through a local Vietnamese legal entity. This project involves building the core computer system framework necessary for IBK Corporate Bank’s establishment of operations in Vietnam. The scope is not merely the introduction of computer equipment but includes the overall design and construction of software for banking operations, IT infrastructure, security solutions, as well as data centers and disaster recovery systems. The disaster recovery system is a mechanism that enables the bank to quickly resume normal operations in case of system failures or natural disasters, and is considered an indispensable security measure for financial companies.

The project is based on IBK Corporate Bank’s global system while reflecting local regulatory and financial security standards, focusing on constructing a compliant architecture for the Vietnamese subsidiary. Lotte Innovation plans to collaborate with IT service provider DXC Technology to design this architecture. The company also proposed applying modular and automated operation systems from the initial construction phase. Modularization involves breaking down required functions like building blocks for easier addition or replacement later; automation of operations means partially delegating management tasks traditionally handled manually to the system. For banks, this means greater flexibility when expanding branches or developing digital financial services in the future.

Lotte Innovation attributes its selection to its experience and localization capabilities in the financial IT sector. The company emphasizes that it has been responsible for the system construction and operation of Agribank, Vietnam’s largest branch network, for 20 consecutive years, thereby building trust in the local financial IT market. Overseas financial IT projects are often difficult to win solely based on technical strength, as understanding local regulations, security standards, and operational practices is crucial. It can be inferred that the long-term operational experience played a significant role in this project’s success.

Lotte Innovation also stated that on April 14, it met with the vice president of Agribank to discuss trends in the Vietnamese financial IT market and cooperation plans. This can be seen as an effort to go beyond a single project win and expand its network of relationships within Vietnam’s financial sector. In recent years, with economic growth, Vietnam’s demand for digital transformation of financial services has rapidly increased, making this market a key area for banks to upgrade their computer systems and invest in security. This trend is expected to become an important factor driving Korean IT companies to expand their business from merely system supply to operations, security, and full digital transformation in the future.