OceanBase Partners with Vietnam's MB Bank for Database Upgrade
OceanBase and Vietnam's MB Bank have signed a memorandum of understanding to support the bank's database modernization and infrastructure resilience.
Singapore-based database technology provider OceanBase, affiliated with Ant Group, has signed a memorandum of understanding with Vietnam’s MB Bank (Military Commercial Joint Stock Bank). The agreement aims to support the bank's efforts in modernizing its database technology and enhancing infrastructure resilience.
OceanBase will provide the necessary database technology for MB Bank's modernization initiatives. The bank will maintain full control over its data management and daily operations. This partnership occurs amid significant expansion in Vietnam's digital economy.
Vietnam's digital economy has seen robust growth, with a report projecting a 17% increase in 2025. MB Bank's upgrade of its database infrastructure is a strategic move to maintain competitiveness in a rapidly digitalizing financial sector.
The collaboration also signifies OceanBase's expanding presence in Southeast Asia, building on previous partnerships, including its work with GCash in the Philippines.