AI and Data: Competitive Breakthrough in Banking Industry

On September 25, 2025, in Hanoi , the annual Banking Industry Summit and Exhibition - Smart Banking 2025 - took place with the theme " Breakthrough in digital transformation of the banking industry: Data is the foundation, customers are the center ".

Delegates discuss at Smart Banking 2025. (Photo: Organizing Committee)

The event was organized under the auspices of the State Bank of Vietnam by the Vietnam Banks Association in coordination with IEC Group, accompanied by the National Data Association and the National Cyber Security Association.

At the event, delegates discussed how to transform huge amounts of data into seamless experiences, how to combine AI, big data analytics and new technologies to provide personalized services in real time while ensuring safety and security. It is not only a technology problem, but also a long-term strategy to turn data into a strategic asset, nurturing customer trust and engagement.

Leveraging AI for smart data mining

According to reports, AI is currently being widely used in the banking sector to support customers, optimize personal user experiences, control and analyze millions of transactions, detect fraud, analyze market demand, etc.

Sharing at the workshop, Dr. Can Van Luc, Chief Economist of BIDV & Member of the Prime Minister's Policy Advisory Council, said that effective application of AI and data in the finance and banking sector is bringing many benefits such as cost savings, process automation, productivity improvement, and customer experience improvement.

According to McKinsey (2023), GenAI can create annual added value for the global banking industry of 200-340 billion USD, equivalent to 9-15% additional profit.

Artificial intelligence is not only bringing positive economic value, improving efficiency and customer experience, but also reshaping data security. Mr. Nguyen Minh Hai, Technical Director of Fortinet Vietnam, shared: "More than 80% of businesses have been using AI-powered security solutions to solve challenges."

Many achievements in digital banking transformation

Speaking at the workshop with the theme “Breakthrough in digital transformation of the banking industry: Data is the foundation, customers are the center”, Dr. Nguyen Quoc Hung, Vice President and General Secretary of the Banking Association, emphasized that in recent times, Vietnam has witnessed the explosion of the digital financial services ecosystem. Non-cash payments have developed strongly.

Dr. Nguyen Quoc Hung, Vice Chairman and General Secretary of the Banking Association, spoke at the event. (Photo: Organizing Committee)

Digital banking becomes the main transaction channel; electronic identification and authentication make great progress; cooperation between banks - fintech - digital platforms is increasingly extensive; data analysis capacity, application of artificial intelligence (AI) and machine learning are promoted in credit appraisal, risk management, fraud prevention, operation optimization and multi-channel customer care.

According to Deputy Governor of the State Bank Pham Tien Dung, from the perspective of a management agency, the State Bank is one of the few ministries and branches that have issued a system of Circulars to regulate the entire process of collecting, synthesizing and analyzing data.

In the banking industry, no data is collected outside this legal framework: From statistical reporting systems, credit information monitoring, CIC systems, anti-money laundering, to all business applications, there are Circulars regulating, serving as the legal basis for the entire industry.

Deputy Governor of the State Bank Pham Tien Dung speaks at the event. (Photo: Organizing Committee)

Currently, the banking industry has deeply integrated with the National Population Database. The State Bank is also the first unit to issue a Circular on Open API, allowing parties to connect banking industry data.

"Data is the foundation, a valuable resource. However, customers are the center. Therefore, in the current digital age, the banking industry must meet three factors: Creating good, smart applications for customers; effectively supporting customers; protecting the legitimate rights and interests of customers," Deputy Governor Pham Tien Dung emphasized.

According to statistics, in Vietnam, more than 90% of transactions are currently conducted through digital channels and over 87% of adults own a bank account. Data generated every day becomes an invaluable resource for banks to design smarter, more convenient and safer products and services.

The reconciliation of 119 million personal accounts and 1.1 million organizational accounts from the National Population Database, along with credit data of more than 54 million customers, has opened up the possibility of providing more accurate, transparent and personalized services than ever before.

Smart Banking 2025 also has 3 specialized Workshops including: "Cybersecurity and fraud management in today's risk environment"; "Creating a digital ecosystem and seamless customer experience journey" and "Innovation and optimization based on AI and data".
In addition, the DF Cyber Defense 2025 Exercise Program is jointly organized by the Department of Information Technology - State Bank of Vietnam, Vietnam Banks Association and IEC Group.
The Finance - Banking Technology Exhibition also attracted nearly 30 leading IT solution providers, including Viettel Cyber Security, HPE (Hewlett Packard Enterprise), Juniper Networks, SAMSUNG, Fortinet, WEEDS VINA and Crowdstrike. Outstanding solutions introduced in the exhibition include: AI/ML, data analytics, fraud management and cybersecurity.
The Training Workshop with the theme "Cyber Security Shield: Early Identification, Rapid Response, Comprehensive Protection" was held for the first time, aiming to raise awareness and information security defense capacity in the Banking industry.

Minh Hoan

Source: https://vtcnews.vn/ai-va-du-lieu-buoc-dot-pha-canh-tranh-trong-nganh-ngan-hang-ar967418.html