Case Study: Vietcombank achieves strong transaction security and reduced fraud with Thales OneWelcome

Vietcombank Ensures Transaction Security with Thales Authentication

Vietcombank, Vietnam’s leading commercial bank, needed to strengthen security for its VCB Online platform used by more than 500,000 customers and to comply with the Vietnamese Electronic Transaction Law. To move beyond SMS/OTP and reduce the risk of online fraud and unauthorized access, Vietcombank selected Thales OneWelcome and its SafeNet eToken USB Authenticator for certificate-based two-factor authentication, alongside Thales SafeNet HSMs to protect private keys.

Thales OneWelcome implemented SafeNet eToken USB Authenticators for certificate-based logins and digital transaction signing (issued to more than 10,000 corporate customers) and deployed SafeNet HSMs to store cryptographic keys in a hardware root of trust. The rollout—localized to Vietnamese and operational within three weeks—significantly reduced identity-theft and transaction-fraud risk, improved customer confidence in online banking, ensured regulatory compliance, and provided a scalable foundation to extend strong authentication across Vietcombank’s broader customer base.

Vietcombank