Vietnamplus

The number of new customers of commercial banks has increased dramatically in recent years thanks to their digital applications.

The MB Cambodia Bank, Public limited Company (MB Cambodia) officially launched its services on February 27 as a commercial bank wholly invested by Vietnam’s Military Commercial Joint Stock Bank (MB).

Governor of Bank Indonesia (BI Perry Warjiyo has expressed his optimism about Indonesia's digital finance growth outlook for 2023 despite the global economic stagnation expected the same year.

Vietnam is a top market in adopting new technologies, in which 58% of digital consumers have used online banking solutions, e-wallets, money transfer applications, and digital banking.

Prime Minister Pham Minh Chinh said the banking system plays the role as arteries of the economy while addressing a meeting with chairpersons and CEOs of commercial banks in Hanoi on October 16.

The Republic of Korea’s digital transformation policy and implications for Vietnam, Vietnam’s digital banking transformation policy, the importance of credit information system in digital transformation, the leap towards digitisation and the recent trend of digital banking and payments in Asia were discussed at a recent symposium in Hanoi.

Vietnam is among the world’s best performers in digital banking, with around 15 trillion VND in total poured into digital transformation, Le Anh Dung, Deputy Director of the State Bank of Vietnam (SBV)’s Payment Department, told a talk show on September 28.

Techcombank has received eight awards from the global payments company Visa for its achievements in 2021. These prestigious awards were presented last month.

Cybersecurity is one of the central issues in the digital transformation of the banking system.

“There is a heated race towards digital banking going on in Vietnam, with banking services having found their way into every corner of life."

“There is a heated race towards digital banking going on in Vietnam, with banking services having found their way into every corner of life.”

Around 85 percent of Vietnamese banking consumers are more likely to use online and digital banking services compared to 18 months ago, according to a new report from SaaS cloud banking platform Mambu.

The adoption of digital banking in Asia-Pacific (APAC) emerging markets, especially Vietnam, has caught up with that in developed markets.

Digital economy, including digital finance and digital banking, will be an effective solution to recover the economy of the world and Vietnam in particular, heard a seminar held by the National Assembly’s Foreign Affairs Committee on September 28.

Thailand’s central bank said on August 19 it plans to test its retail digital currency for the public in the second quarter of 2022 as an alternative payment option.

The COVID-19 pandemic not only creates challenges for banks, but also pushes them to foster digital transformation to survive, experts have said.

Vietnam is among the regional countries that are seeing new digital bank models, experts have said.

Vietnam is marching towards becoming a cashless society with new methods of electronic payments being deployed widely, but security risks come hand in hand with new technologies and applications.

Thanks to breakthroughs in technology, customers can now open online banking accounts anywhere, anytime with just a smartphone, utilising facial recognition technology - also known as eKYC (or “electronic know your customer”). Banks are now in a race to use eKYC to build their digital banking platforms

The Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) has recently been honoured at four categories of the multinational financial services corporation Visa Inc.