Ho Chi Minh City, April 15, 2021 – Timo Digital Bank platform today officially announced that Mr. Nirukt Sapru has been appointed to the Global Advisory Board of Timo with effect from 1 April 2021.

Nirukt has more than 34 years in retail, commercial and investment banking. Nirukt brings deep emerging market experience across Asia, Middle East, Eastern Europe and Latin America coupled with having run businesses in the OECD markets of Australia, Europe and North America.

Most recently, he served as Standard Chartered Banks CEO for Vietnam and Cluster CEO for ASEAN and South Asia cluster markets. During his tenure, Standard Chartered Bank Vietnam became one of the leading international banking franchises in Vietnam and he is in particular credited for building out a digital retail franchise.

Prior to joining Standard Chartered Nirukt was Global Head of Emerging Markets and Leverage Finance for ABN AMRO Bank based in London.

His extensive knowledge and experience in Vietnam and other financial markets will allow him to contribute significantly to the long-term domestic and international development of Timo.

Both Nirukt and the company strongly believe that any strategy must be based on customer-centricity. “Timo has an extraordinary cloud based native digital platform which allows it to provide a truly world class digital solution for its customers. With its obsession on customer outcomes, I am excited to join Henry and the team at Timo to help serve our customers to give them a truly world class customised experience” according to him.

With this appointment, Timo gains an exciting opportunity to understand international financial development trends and customise them to the digital banking ecosystem in Vietnam. Mr. Sapru will therefore play a key advising, supporting and empowering role for Timo’s senior management, complementing and validating strategic matters.

Setting up a Global Advisory Board is crucial to assist Timo in realizing its aspirations of becoming the preferred “financial partner” for customers and provide the best financial experience anytime, anywhere. To further advance this mission, Timo has concurrently made a series of additional senior management appointments tasked with developing further innovative solutions. The company hopes to positively contribute to the overall development of the banking and financial sector in Vietnam and improving the lives of the Vietnamese people through innovative and customised digital solutions.

These efforts are also starting to attract global attention. Recently, Timo was awarded “Best Digital Bank in Vietnam 2021” by the prestigious International Business Magazine, the third consecutive year that Timo has received the award “Best Digital Bank in Vietnam”.

Mr. Nguyen Bao Hoang – CEO of Timo said that he sees the line between digital and traditional banks continuously blurring in the future. Timo therefore aspired to simply become a leading bank in Vietnam over the next decade. Meanwhile, in addition to strengthening its position domestically Timo is also assessing international strategic opportunities. Specifically, the company is open to international partners and investors who can provide strategic value to the financial ecosystem and reach customers in both financial and non-financial segments to increase Timo’s overall competitiveness in this period of abundant opportunity but also significant challenge.

For further information please contact:

Ms. Thu Tran – PR & Communications Director 

Timo, HM Town, 412 Nguyen Thi Minh Khai, Ward 5, Dist 3, Ho Chi Minh City

Email: thu.tran@timo.vn – Phone: (+84) 909895377 

Hochiminh city, 19th Jan 2021


Timo was established in 2015, as the first digital banking platform in Vietnam to offer customers a unique banking experience coupled with products & services to make their banking life easier and hassle-free. 

The global banking sector is constantly metamorphosing yet in an embryonic stage in Vietnam. 

Timo has emerged as a leading non-conventional bank in the nation and beyond with a digital-first mindset. The bank has achieved a remarkable double first with The Global Economics award categories- #1 in Fastest Growing Digital Bank 2020 and #1 in Most Innovative Digital Bank 2020 in its ongoing digital banking transformation. The Global Economics is a U.K.-based premium financial magazine and is happy to commend Timo Bank in its unique approach of integrating banking with lifestyle sought after by many private banking customers.

Award criterias

Timo’s strategy is product-led, innovation-led, and customer-centric- the best of integrated functionality and value. Timo has modernized the e-Payments ecosystem with EasyPay for their increasing digital-native customer base. 

The following criteria were looked upon during the process of evaluation:

  • Customer Reviews/Feedback
  • Market Reach
  • Products and Services
  • Online Presence
  • Technology used
  • Innovation
  • Growth

What made Timo stand out from traditional banks was a strategic decision to bypass formal branches and instead, invite customers to “Hangouts”, which are hybrid coffee shop-banking centers. This was the first innovation that prioritized customers at the forefront of the business. 

Hangout model is the Timo’s commitment to put customer first

Timo’s vision & mission

Unlike typical banks in Vietnam, Timo also streamlined the sign-up process via Digital channels that could be completed in under 5 minutes, followed by a 15-minute physical visit to any of the Hangouts nationwide where a “wet signature” and Debit Card was collected (as required by State Bank of Vietnam regulation). A new Timo member enjoyed a complimentary beverage at the Hangout, while the verification is completed and walks away with a Debit Card. 

Most importantly, this customer experience and customer-first approach allowed Timo to demystify the complex banking environment and deliver a Simple, User-friendly and transparent banking platform accessible on iOS, Android and through a web app. Safety measures like authentication, are also streamlined with multi-level security protocols like Fingerprint Login, Face Recognition, Card lock / Unlock iOTP in the App and OTP via SMS to ensure customers’ funds are safe.

After 5 years of operating in the market, Timo opened 5 hybrid coffee shop branches called “Hangouts” across 4 key provinces nationwide – where customers can experience a digitized financial product in a unique environment that’s not a typical bank. In 2019, Timo was recognized for its innovative efforts and was awarded “The Best Digital Bank in Vietnam” by Asia Money– further cementing its maturity and success in improving the landscape of banking sector in Vietnam. 

New year new look with Timo

Timo changes banking partner

Extending the digitalization trend in Vietnam, Timo decided to move to its next development stage by partnering with Viet Capital Bank in September 2020, with a shared vision of bolstering innovation and better customer experience. 

Timo’s mission is to benchmark its smart financial management platform with a focus on the best user experience. Timo offers users can conveniently send and receive payments, manage savings and investments, borrow money and create financial plans. To accomplish this mission, Timo decided to form this strategic partnership with Viet Capital Bank that promises a closer working relationship and upgrades. 

Within 2 months post the transition from the previous partner, Timo recorded impressive numbers with over 100,000 new and migrated accounts. The company has been quick to expand its capacity by continuously deploying new ‘hangout’ branches and pop-up event locations to meet the overwhelming demands of customers eager to join the newest digital bank. In the true spirit of collaboration, Viet Capital Bank branches in select cities, also onboarded Timo customers. This number will continue to grow as Timo and Viet Capital Bank strengthen their partnership and aims to reach as many customers as possible across the country. 

About Viet Capital Bank 

Established in 1992, Viet Capital Bank has over 27 years of experience in transforming the banking sector of Vietnam through a focus on technology and customer care, especially for SMEs and individual clients. In digital banking, Viet Capital Bank has earned its reputation to adopt digital transformation initiatives such as being the first to implement eKYC with TrueID technology from VNG. 

Viet Capital Bank has also been pioneering in online and mobile banking and has led the banking sector in partnerships with the leading Fintech and digital financial services innovators. Its business results through the first 6 months of 2020 reflect the benefits of this focus on technology and innovation as the number of transactions and transaction value handled by Viet Capital Bank have increased by over 3 times and over 5 times, respectively, as compared to last year.

Timo Best Digital Bank 2019


HCMC, 2nd October 2019

Timo Digital Bank receives the “Best Digital Bank in Vietnam 2019” award.

Second from left to right:
Mr. Andy Ho (Board of Directors of Timo), Mrs. Nga Lam (Chief Financial Officer – Timo) and Mr. Giang Pham Long (Head of Digital Banking Services – VP Bank) received the award from  Asiamoney representatives. 

September 25, 2019 – At the Asiamoney Awards ceremony on 25th September 2019 in Singapore, Timo won the “Best Digital Bank in Vietnam 2019” award amongst an audience of its peers.

The Award is given annually by Asiamoney, a subsidiary of the prestigious Euromoney financial magazine that is a trusted source of banking and capital markets news amongst the financial sector. Asiamoney has been an authoritative voice for the banking and financial industry in Asia for almost three decades, with the Asiamoney Awards acknowledging pioneers across categories of finance, investment, SMEs support activities and CSR activities.

When asked how winning this award made him feel, Mr. Don Lam, Chairman of Timo said:

I am proud to see Timo realize our initial vision and change the face of banking in Vietnam. As a market leader in the Fintech space, we will continue to push innovative solutions and create progressive and intelligent customer experiences across our platform”.

For Cameron Warden, CEO of Timo, this award is a testament to the last few years of hard work and determination. He says:

It’s fantastic to see that our strategy of innovating on customer experience through technology is paying off. We’re excited to be a true catalyst for change in the banking sector in Vietnam”.  

The “Asiamoney Best Bank Awards” were created to identify which banks in each market across Asia have excelled across a range of core banking activities over the past year. The 2019 award ceremony honored participating banks across categories like Best Domestic Bank, Best Bank for SMEs, Best Corporate & Investment Bank, Best International Bank, Best Digital Bank and Best Bank for CSR. 

Asiamoney’s award decisions are made by a team of senior journalists, chaired by Euromoney’s editor, after receiving detailed submissions from market participants and in conjunction with research into the banking and capital markets by their editorial committee. Their senior editors also visited each country or territory to meet leading bankers and gather client and competitor feedback. 

For Timo, this is a prestigious award in the field of banking, evaluated by a team of highly qualified Asiamoney award advisors and senior journalists via surveys and interviews conducted with random participants to receive their responses and sentiment toward a brand. 

Enthusiasm for Timo in Vietnam has been growing, just like it’s customer base which is a little over 250,000 in 4 short years since opening its doors in 4 locations – Ho Chi Minh City, Hanoi, Da Nang and Can Tho. The hybrid “Hangout” coffee shop concept resonates well with Timo’s younger target demographic, who love the fact that they can open a bank account on their phone while sitting in a coffee shop.


  • For more information, please contact:

    Ms. Manisha Philip

    Marketing Director – Timo Digital Bank sponsored by VPBank

    Mobile phone: +(84) 931493154 | Email: manisha@timo.vn

    Head office: 194 D – E Pasteur Street, Ward 6, District 3, HCMC, Vietnam.

    Phone number: 1800 6788. 


Timo Digital Bank powered by VP Bank was founded with 3 core goals:

  • Providing a smart financial management platform with user-oriented experiences that support them with more convenient banking operations;
  • Supporting users to take advantage by enjoying life and managing finances and time on their own terms;
  • Transitioning from traditional banking experience to digital banking.

In 2015, the first version of the Timo Digital Bank application was introduced to customers with an eye-catching, friendly and easy-to-use interface. Soon after, the Timo team has added a variety of new functions and features but still retain the strengths of the Timo application. Currently, users of the Timo Digital Bank app, besides transactions – remittance related actions, can also make investments, buy insurance directly in-app and even buy flight tickets.

  • To know more about the award, read the article here.
  • And for more details about Timo, please visit the website: https://timo.vn/ and other official media channels including LinkedIn and Facebook.