Singapore – Vietnamese IT services giant FPT has solidified a strategic partnership with audax Financial Technology, a digital banking solutions provider backed by Standard Chartered, in a move poised to accelerate digital transformation for financial institutions across the Asia Pacific and Middle East regions. The collaboration sets an ambitious target of generating $100 million in revenue over the next three years.
Under the terms of the agreement, FPT will serve as audax’s primary regional partner in Asia Pacific, taking charge of critical functions including development, testing, deployment, and ongoing operational support for audax’s digital banking platform.
This synergistic partnership combines audax’s robust digital banking platform with FPT’s deep expertise in cloud-native development, microservices architecture, DevSecOps, and agile delivery. The combined capabilities aim to provide scalable and secure digital banking services to meet the evolving demands of the financial sector.
Pham Minh Tuan, CEO of FPT Software, highlighted the significance of the alliance, stating, “Building on our nearly three decades of experience in the financial services domain, and a longstanding partnership with Standard Chartered Ventures across multiple strategic projects, we will accelerate digital banking transformation and help our customers expand access to secure, future-ready financial services.”
A key focus of this initiative is to address the needs of underbanked populations in the Asia Pacific. By enabling financial institutions to modernize their legacy systems and embrace innovative models such as embedded finance and Banking-as-a-Service (BaaS), the partnership seeks to bridge the gap in digital financial services access.
Kelvin Tan, CEO of audax, echoed this sentiment, emphasizing, “This partnership supports our vision to lead the digital transformation of banking, enabling financial institutions to scale, unlock new growth opportunities, and stay ahead of the curve with innovative business models that drive financial inclusion.”
The collaboration between FPT and audax is not new, having commenced in 2020 with FPT’s support for audax’s product development and market rollouts within the Asia Pacific.
FPT, headquartered in Vietnam, is a diversified conglomerate with significant operations in technology, telecommunications, and education. Its technology arm boasts 3,000 engineers serving over 200 clients in the fintech sector.
audax Financial Technology is dedicated to assisting banks and financial institutions in scaling and modernizing their operations. Notably, audax played a pivotal role in enabling Standard Chartered’s SC nexus Banking-as-a-Service offering in Asia. This latest partnership with FPT follows audax’s December collaboration with Tuum, which focused on delivering digital banking capabilities in the Middle East.
