Promoting non-cash payment, digital banking, and green banking is the direction of the banking sector in the 2020-2025 tenure, State Bank Governor Le Minh Hung told a meeting in Hanoi on August 17.
After five years of development, Timo, the first digital banking platform in Vietnam, has decided to join forces with a new banking partner - VietCapitalBank - to deliver more rapid innovation and a better experience for customers.
“Vietnam needs to focus on restructuring the economy, promoting digitalisation and internationalisation following the COVID-19 pandemic because these are important to industrial development and sustainable development of the national economy and enterprises”, said an economic expert.
Mobile transactions in Vietnam are forecast to increase by 400 percent by 2025 in the Fintech and Digital Banking 2025 - Asia Pacific Report released by Backbase on May 11.
The Fourth Industrial Revolution (Industry 4.0) has a great impact on the human resources of the banking sector, according to the general director of Vietnam Prosperity Joint Stock Commercial Bank (VPBank).
Vietnam is committed to opening door for foreign investors, especially in the field of services, according to the roadmap in signed bilateral and multilateral free trade agreements.
Rising number of Internet users and mobile phone subscribers is smoothing the way for digital banking in Vietnam to thrive, but huge challenges keep lying ahead, according to insiders.
Digital banking is inevitable for Vietnamese banks and building trust is critical in the development of the new business model, experts said at a conference on June 14.
Challenges related to network security, customer trust and an inadequate legal framework are road blocks to the digital transformation of Vietnamese banks, experts told a recent conference in HCM City.
The Vietnam International Bank (VIB) has won two international digital banking awards from The Asset, making it the first bank in Vietnam to receive the awards for three consecutive years.
Ho Chi Minh City will create favourable conditions for Thai-based Kasikorn Bank (KB Bank) to open its branch in the city, the first of its kind in Vietnam, helping diversify local credit and banking activities, Vice Chairman of the municipal People’s Committee Tran Vinh Tuyen has said.
Kookmin Bank of the Korean KB Group has opened its first branch in Hanoi on the 25th floor of Landmark72 building after receiving approval from the State Bank of Vietnam (SBV).
Embracing the digital transformation is critical for Vietnamese bankers in the era of Industry 4.0, experts said during the 2019 Asian Banker Conference in Hanoi on January 10.
Deputy Prime Minister Vuong Dinh Hue called on Singapore’s Clermont Group to share its experience with and provide consultations for Vietnam in building and developing an ecosystem for fintech and digital banking.
Vietnam has seen a digital wave in the finance-banking industry, with many banks investing significantly into the segment, experts said at a recent conference.
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